Factors Impacting Your Recruiting Capacity
In this week’s blog post, we’ll talk about two common challenges we see, and the questions C-Suite leaders need to address to make SURE you’re putting resources in the right place to hire the talent you need now and in the future. Your business depends on it.
Work from the Inside Out
The #1 goal of recruiting should be to impact business results. However, HR/Recruiting is still perceived as – and treated like – a cost center.
In this year’s global CEO survey, C-Suite executives cited attracting and retaining top talent as their #1 internal concern and they think talent shortages will only intensify beyond 2019, which underscores why organizations should constantly reexamine how they’re attracting and retaining their best and brightest.
The PWC survey went on to explain, “CEOs are well aware of the extraordinary challenges ahead but seem less certain about how to tackle them. 93% say that they recognize the need to make a change, or are already changing, their strategy for attracting and retaining talent. But there’s still an enormous gulf between intention and action; a staggering 61% of CEOs haven’t yet taken the first step.” (PWC Global Survey, 2019)
Who do you view as responsible for hiring? Is it Human Resources? The Hiring Manager? You? Everyone? Ask yourself: does that person (or you) have the knowledge, experience, tools (and market intelligence) to hire the best fit for your company?
Change is coming. If your recruiter or HR person isn’t at the decision table, you may be cutting yourself off at the knees. The people doing your hiring need the capacity to bring you the insight and information you need to make strategic decisions. If you don’t let your internal expert have influence, you won’t get the result you want.
You also can’t halt business production (revenue generating activities) to address emerging hiring or staffing shortages. Every team needs different tools and support to target and hire the really great talent. Most business leaders and managers (and dare I say HR) aren’t trained in talent acquisition and recruiting. Small mistakes, outdated practices, misunderstood tools and overwhelmed staff, limit ROI and create overwhelm for whoever does your recruiting. If your team is overwhelmed, YOU will be overwhelmed.
ROI Reality Check #1:
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Does your team know the trends, needs, and tools to identify, engage and communicate with job seekers in today’s competitive hiring landscape?
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Are you relying on processes that worked just over 5 years ago? (If you are still using the same hiring strategy from 10 years ago, I would be very concerned!)
If Craigslist and a prayer are still your go-to’s for hiring, your approach and strategy is most likely outdated. Spending some time looking at where to invest using data and analytics is necessary to strategically to address gaps and get the results you need – without a side of overwhelm.
Job Market Challenges
Now let’s look at the job market and how job seekers engage with and perceive employers. Hiring the right talent isn’t easy. It can get overwhelming and expensive if you don’t have a current understanding of candidate expectations and experiences. It’s a candidate’s market, and companies are competing for the same talent. A January 2019 report from Jobbatical stated “Talent shortage is a real issue in the current market. Almost three quarters (72.8%) of employers are having a difficult time finding skilled candidates and 45% of employers are concerned about finding employees with the necessary talents.”
When you find the talent you need, decision-makers must offer job seekers more than just a living wage and clear job description. You need candidates to see your workplace as desirable – and that means sharing an employment brand that people want to be a part of.
“Employers are open to added incentives. As many as 31% of employers say they will give employee discounts, 25% will offer the ability to work remotely, 22% will allow extra paid time off, and 21% of employers will grant a sign-on bonus when recruiting candidates,” the report continued. (Jobbatical Blog, January 2019)
ROI Reality Check #2:
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Do you know how you’re perceived by the people you want to hire most?
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Have you invested in creating an employment brand that appeals to your best-fit future employees?
Don’t worry if this sounds overwhelming. With a little guidance, you can take some simple, cost-effective steps to ensure that your employment brand is known to attract the ideal people you want to hire.
Over the next few weeks, we will continue our overview of small steps CEOs can take to get and stay proactive in light of global and regional changes in hiring trends, economic growth, and expectations from candidates.
More to come!
Look for more Recruiting ROI information as we dive in to challenges and pain points leaders and CEOs face when determining spending and measuring recruitment efforts.
Got a question about recruiting or hiring? #AskR2R in a message and your question could be featured in an upcoming post or blog!
