All business owners know the detrimental nature of hiring the wrong employee.
A single bad decision can dramatically impact productivity, performance, and company culture. Furthermore, research shows that replacing this employee costs 21% of their annual salary.
If you’re looking to hire for your business, you must know which recruiting strategies work — and don’t work. Do you want to make 2020 your best year yet? Let’s get started.
1. Nurture and Attract Your Current Employees
Many bosses neglect their current employees when hunting for new ones. This faulty strategy is a costly mistake. You risk alienating your team and losing some of your best performers.
As a general rule of thumb, take time to acknowledge and appreciate the staff working for you. Identify your top employees and focus on what you can do to keep them happy. Show your gratitude regularly through both verbal and written affirmations.
Ask what you can do to keep them excited and supported in their work. Offer to help when help is needed. And remember, if it’s an employee that you love, it’s much easier to grant a pay raise than it is to gamble on a new hire altogether.
2. Identify (and Chase) Your Priorities
We’ve all heard the cliche that you get what you pay for. When it comes to hiring the best talent, this statement is about as accurate as accurate gets!
Only you can decide what you’re truly willing to spend on the right person. However, if you want your business to flourish and you’re desperate for positive change, you need to review your budget.
“Going cheap” on your hires may save you a few bucks on annual salaries and benefits. However, the invisible, long-term costs can be far more expensive, especially if you want to start leveling up your business.
Top candidates are an investment in your company’s success. Of course, you may not see financial gains immediately. However, by reaching for the top talent, you are more likely to receive the top results.
3. Consider Past Employees
Past employees can be some of the easiest hires you do. They already understand the company’s expectations, and they already have a previous history doing the work. If they left on good terms to gain more practical experience, even better!
New hires can take anywhere from 3-6 months to grow into their roles fully. Ex-employees, on the other hand, can find their groove much faster. They already know you, and they likely have a healthy thirst for the tasks they need to complete.
The only consideration to keep in mind? What made them leave in the first place? While not a complete hindrance, you should keep this answer in mind, as it could lead to a future pattern.
4. Incentivize Employee-Based Referrals
Who better than your own employees to provide you with recruiting leads during the hiring season? After all, they know your business structure and expectations. However, beyond what lies on paper, they also know what working for the company feels like.
Referrals can help solicit talent you may have otherwise overlooked. Consider creating an incentive program for employees willing to offer referrals. You want the reward to be captivating without being so intriguing that it compromises the quality of the referrals you receive.
Tight on money? Monetary rewards aren’t the only way to go. Consider alternative perks like paid time off, gift certificates, or entry tickets into an annual raffle.
5. Spend Time On Your Job Descriptions
If you’re still copying and pasting the same job description you were using five years ago, you’re asking for hiring problems. The job description is the portal to locate the best employee. Treat this task with special attention.
Specify Titles
You want to use as accurate titles as possible. Vague terms will attract a general pool, but highly specific titles will attract the most qualified and suitable candidates for the job.
Use Specific, Clear Descriptions
Employees need to know what they should expect on a daily basis. However, you shouldn’t need to write a lengthy novel to get the point across. Focus on including the essential tasks and expectations that you expect employees to follow.
6. Cast A Wide Net
Don’t limit yourself to one or two job boards when posting for an open position. You want to take advantage of as many different channels as you can. And don’t overlook social media- many people are now sourcing their best hires through platforms like Facebook and Instagram.
The one downside to casting a wide net is that you’ll receive more applications. That said, you can create filters that will parse out those who are unqualified. And even if one candidate isn’t the right fit, you can always save their contact information for later — just in case.
7. Outsource Your Recruiting
What happens if you don’t have the time, energy, or desire to spend your efforts on recruiting the best talent? What happens when you can’t find anyone who seems to fit the job best? That’s where executive outsourcing helps!
Executive recruiters do the hunting and analyzing so you can focus on what you do best — running your business. No more sifting through resumes or scanning job boards. No more wasted time on interviews with the wrong people.
Learn more about how these specialists can help you.
Final Thoughts On Top Recruiting Strategies
Finding talent takes time, persistence, and dedication. Using the right recruiting strategies will optimize your process.
Are you looking for more advice on workplace and business success? Check out our tools and tips blog archive today.
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