Best Ways to Find Candidates.
Heavy competition for workers with specialized skills doubles the difficulty budget crunches impose on recruiters. Sixty percent of small business owners and managers say their biggest human resources challenge is finding skilled talent. Some companies with deep pockets are offering generous transition packages to lure workers away from competitors. But for businesses that can’t afford this, smarter strategies are required.
Here are a few tips to quickly and easily avoid some basic problems and challenges that have a high impact on your recruitment process:
Volume of Open Positions
Obviously as corporate growth increases, so will the hiring volume. However most recruiting leaders don’t realize that retention problems at your firm will further increase that hiring volume and an increased volume of open positions will overload the recruiting system. Because most corporate retention teams have been completely decimated and their retention approach hasn’t been updated in a decade, corporate efforts to prevent this increased turnover will have little impact. As the job market opens up in specific industries and regions, many employees who have been focusing on job security for years will begin to realize that it’s time to move on, hence increasing the turnover. Last year alone corporate turnover increased by 45%, and a similar increase for this year and next is expected. This means that the volume of open positions will dramatically increase because of the combination of new corporate growth and high employee turnover, going beyond the capacity of recruiting leaders. In every small business, recruiting operates at a low-volume mode in the initial years, hence, lack of capacity and scalability becomes a major challenge, in addition to having to fight over individual talent.
Be prepared for Competition
As the economy improves, the power will inevitably shift away from the corporation to the job seeker. With so many jobless individuals applying for every open position, often recruiters and managers could pick and choose over numerous applicants. And as a result, recruiting could have been labeled over the last few years as being relatively easy. With the new shift, most corporate recruiting functions simply aren’t ready for a return to intense competition where the candidate holds the power. Solving the intense competition problem will be difficult because the primarily “active” recruiting approaches that have worked and dominated over the last handful of years will simply fail when you have to fight over prospects and candidates. Having to fight to fill every position qualifies this problem as the one with the highest impact unless you have developed a plan to return your function to a war-for-talent model. And even then, a lack of resources may restrict any shift in your approach.
Manage Speed of Hiring
A lack of speed in hiring will restrict your results — the business world moves much faster today than it did during the last recruiting boom. Recruiting hasn’t maintained its speed capability because reduced recruiting resources and a lack of competition have caused many firms to stop focusing on their time to hire. But in a newly competitive and faster moving world, delays in hiring may cause you to lose literally every top candidate. In the near future, top candidates will have multiple offers and they simply won’t be around when indecisive managers finally make their hiring decision.
Quick Hiring Managers
The fact that there has been little money for development or training for either recruiters or managers will mean that in growth mode both are likely to initially stumble under the new environment. In addition to that, rusty hiring managers and underdeveloped recruiters have diminished capabilities — a low volume of hiring and the lack of competition may have caused the capabilities of your hiring managers and recruiters to degrade significantly.
Small businesses are fueling our economy, but they must be able to locate and land top hires in order to continue succeeding and building a stronger future. By accessing many of the same tools large companies use, those top candidates are within their reach. Spending some of your budget on the right tools is better than missing out on talented prospective employees. In this age of technology, you can take advantage of many of the same tools, techniques and resources that larger organizations use to attract and land highly sought-after candidates. Contact HyperEffects to chart out a tailor-made tool for your hiring process to be more swift, organised and easy.
