Talent acquisition should be a top priority for any company that is invested in hiring top talent for the long term. A successful hire is more likely to be made when organizations take the time to develop recruitment strategies and practices that are aligned with the goals of an aggregate business. Making smarter choices during the hiring practice can boost ROI, and reduce costs accumulated by high turnover rates and mediocre employees. It just takes a little planning.
So how can you create a recruiting strategy that works with the needs of your business to find and onboard top-quality talent? According to our research, there are 6 critical factors that organizations must consider and integrate into their hiring plan.
Elements of a Successful Recruiting Strategy
- Employee base strategization. How many employees do you actually need to hire for your company to function? Also known as “workforce planning,” this element is intrinsic to most sound business plans, and is therefore easy to translate into a recruitment strategy. For long term-solutions, a company should modify their employee base strategy on an annual basis, to account for business advancement.Once you know how many employees are required by any given department, this allows you to prioritize positions and make smarter investments in employee base development as your organization grows.
- Recruiter stratification. Your team of recruiters must be varied in terms of their skill sets and levels of knowledge, and they should have well-defined roles within their department. Leveraging the right recruiter for a specific position will ensure that the best hire possible is made.For example, hiring for a highly-skilled position should be handled by one or two recruiters who have advanced relevant industry knowledge, and will therefore know what questions to ask, and how to discern top talent from mediocre applicants. Entry-level positions with a high volume of applications may be handled by junior recruiters.
- Reference checking. We think this should be obvious, but it’s something that businesses often overlook, which can cost a company a lot of time, money, and wasted energy. It’s such a simple change, and it can make all the difference between hiring a qualified, honest, and motivated employee, or a fraudulent or otherwise problematic candidate.It’s easy to get excited about a potential hire with a stellar resume and personal charm, but checking their references can be just as easy and yet may uncover some hidden truths about your “perfect” candidate. Leveraging a hiring solution, such as our automated Harver Reference, can take the footwork out of checking references and garner honest feedback on your candidate, so that you can make smarter hiring decisions that will benefit your company as a whole.
- Smart sourcing. Your recruiting team should know where to look to find the best fit potentials for any given position, starting with the inside of your company. With growth at the forefront of corporate priority, it is often tempting to go straight to outside talent, but sometimes the best candidates for the job are already in the employ of your business. It is inexpensive and fast to start searching for potentials in your own employee base, first, and once hired, they need less onboarding to get started. You should also be continually building a talent pool that is filled with experienced, warm contacts. This should be your second go-to for outreach after internal lists. However, recruiting departments often find it challenging to build this pool fast enough using traditional sourcing methods.
In this case, you may consider automating your sourcing to some degree. For example, our Harver Reference tool queries candidates’ references whether they’d like to hear more about your organization. On average, our customers convert 50% of references into passive candidates. As you can imagine, these are high quality passive candidates because of their existing relationship with your already-vetted pool of current candidates. As well, this strategy can build up a large, interested talent pool very quickly.
- Employee branding. The identity of a company is sometimes more valuable to a candidate than other dry stats or descriptions. Workers garner personal pride from their place of employment if company values are in line with their own.One way to attract top talent who are not only skilled, but also a best fit for your company, is by marketing a strong employee brand which communicates benefits, lifestyle, and other extracurricular values facilitated by your organization. A job description should include details such as specific annual perks you provide to full-time employees, charities you regularly donate to or encourage employees to volunteer with, or your environmental policies. Highlight what makes your company a great place to work so that you can attract top tier candidates. Make sure your potential candidates know why your company is the best choice for them.
- Considering the candidate experience. Recruiting is a two-way street, and while you’re evaluating your new potential, they are also evaluating your company. Retention starts at outreach, and your recruiting strategy should aim to make the candidate experience easy, clear, and enjoyable, from start to finish.
Start by providing accurate, detailed information about the position. Outreach messages should be personal, and interviews should ask specific questions which show that you’ve done your research and know who this employee is as an individual. All inquiries a candidate sends you should be answered in a timely manner, and your tone should be cordial. And if you like them, let them know right away! A business can miss out on a quality hire if they leave the candidate hanging for too long.
Final Thoughts: Elements of a Successful Recruiting Strategy
Planning a successful recruiting strategy is a complex and multifaceted undertaking which is absolutely worth the result: a qualified employee base, and ultimate boost to your company’s production power. Leverage our list of critical elements to begin building your strategy today.
Haven’t updated your recruiting strategy or hiring process lately? Schedule a call with our experts for guidance and we’ll help you hire better, faster.