Many business owners and leaders consider the recruitment process a reactive process to replace existing talent and may not consider the full impact to the business nor optimise the commercial implications across the entire business.
It all begins with creation of a Recruitment Strategy. A sound recruitment strategy typically includes several key components aimed at effectively identifying, attracting, and selecting the best candidates for available positions within an organisation and most of all includes a plan for your people’s development, progression plans and creating a culture that improves overall productivity.
Ideally you will have a transparent employee matrix to understand each of your employee’s place in the business in terms of their values alignment, how ambitious they are and the likely path for their growth, what skills they need to develop into those future roles and to ensure communication of those pathways and the growth required.
Here are some essential elements of a comprehensive recruitment strategy that can help organisations enhance their ability to attract, select, and retain top talent that aligns with their needs and culture.
Clear Job Descriptions: Detailed and accurate job descriptions outlining the responsibilities, requirements, and expectations for the role help attract candidates who possess the necessary skills and experience is a basic requirement of good recruitment, but are you aligning the values of the business to find the impact players?
Targeted Job Advertisements: Posting job ads on relevant job boards, industry-specific websites, social media platforms, and professional networks to reach the desired talent pool could be wider than the obvious few online channels.
Employer Branding: Building and promoting a positive employer brand will help you attract top talent. This involves showcasing the company culture, values, benefits, and opportunities for growth and development both internally and externally. Your people can be your best ambassadors too.
Candidate Sourcing: Actively sourcing candidates through various channels, including job boards, employee referrals, networking events, career fairs, and recruitment agencies. Many do recruitment, but don’t always have a deep understanding of your culture, values and the dynamics of the existing team. Someone who deeply understands your business will always do better for you.
Effective Screening Process: Implementing an efficient screening process to review resumes, conduct initial interviews, and assess candidates’ qualifications, skills, and cultural fit. Using technology can be your best friend to manage the scale of candidates and prevent skipping over the gems.
Interviewing Techniques: Training hiring managers and interviewers on effective interviewing techniques to evaluate candidates objectively and fairly. Skills are easy to train, but are your interviewing to fit with the values of the business, the dynamics of the team and for the business strategy? Many recruitment campaigns get stuck on the skills and the talent don’t stick impacting culture and costs.
Candidate Experience: Providing a positive and engaging experience for candidates throughout the recruitment process, including timely communication, transparency, and feedback is crucial at keeping the best talent and onboarding them successfully, particularly for a values driven culture.
Diversity and Inclusion: Actively promoting diversity and inclusion in recruitment efforts to ensure a diverse candidate pool and foster a more inclusive work environment without being tokenistic.
Assessment Tools: Utilizing assessment tools such as skills tests, personality assessments, and behavioural interviews to evaluate candidates’ suitability for the role and cultural alignment. We love psychometric testing including values alignment testing!
Offer and Negotiation: Making competitive job offers and effectively negotiating terms with selected candidates to secure their acceptance. Good people are worth their value but also remember that good people care more than just about the money so make the company culture worth being there.
Onboarding Process: Developing a structured onboarding process to facilitate a smooth transition for new hires will set them up for success in their roles. You can’t under-estimate the importance of first impressions and getting new team members integrated into the team. Managers need to take a key role early on and give the employee the gravitas they deserve making them welcome into the team. Make sure you maximise the functionality within your HRIS software including embedding your values, creating a visible organisation chart and most importantly for your professional development and goal setting processes.
(Note: If your HRIS software doesn’t do those things then ask about CentralStation™, our proprietary people and culture software)
Continuous Improvement: Regularly evaluating and refining the recruitment strategy based on feedback, metrics, and industry best practices to optimize effectiveness and efficiency over time. Consider how you can break industry challenges or talent shortages by developing your existing team or solving bigger issues and being a key leader in making change. Consider having a performance plan for every employee and not just focusing on fixing the ones that are under-performing. Everyone in your business should know how they can progress in the business and what needs to be done to get there.
By implementing a strong recruitment strategy you will attract, select, and retain top talent, thereby ensuring your ability to achieve business objectives and maintain a competitive edge in the marketplace. Productivity is a likely by-product of a sound recruitment strategy including cost savings across many business units, and a positive impact on culture.
Some key questions to ask yourself:
- Is your recruitment strategy in alignment with the business goals?
- Are your values embedded through the recruitment process to attract the right candidates?
- Are you developing people for growth within the business to maximise your retention in the first place, retain your intellectual property, build a culture of a growth mindset, and finding the impact players that help improve productivity?
- Are you measuring your people metrics to watch for cultural trends, or for blind spots in leadership?
- Does your organisation structure allow for progression?
- Are you resolving industry issues to benefit your long term objectives?
Ask us at Wall Street about our in-house recruitment and head-hunting team and how we integrate PeopleEconomics® across everything we do.
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