Let's face it: nobody likes the recruitment process, on either side of the coin. It's time consuming, clunky, and often frustrating for everyone involved. However, 47% of Canadian employers plan to add staff in Q4 according to a ManpowerGroup survey.
With a large draw on an already tight talent pool, how does your recruitment strategy stack up? If you're not sure, it might be time for a Recruitment Rethink.
Gone are the days when a company could cast a wide net expecting to land a long list of top tier candidates all vying to work there. With record low unemployment numbers and the career ladder climbing that occurred throughout the pandemic, it's a tight market and top talent is harder to land. But here is the good news: with a strong recruitment strategy, you can land top talent.
You get to decide what top talent means for your business and with a clear vision of success, you can tailor the recruitment strategy to make your business stand out and attract exactly who you're looking for.
Understand who will succeed (and who won't). It's critical to dig in and identify the type of person that will be successful in the role and with the company. Truly understanding what success looks like will narrow down which skills, characteristics, values, and experiences to focus on. On the flip side, what does the wrong hire mean? Get familiar with not only your dealbreakers, but how you define mediocracy.
Ensure you have a fair and competitive offering that aligns with what your top candidates want. A good salary in today's market is very important, but work flexibility, remote work opportunities, career growth, and further education are major factors being considered by current job seekers.
Make sure that your job postings are compelling and speak to the identity of the company and the specific role. Let your candidates know why they would love to work there and what a good fit means to you.
Check in with your Employer Value Proposition (EVP). When someone 'Googles' your company do they like what they see? Your reputation speaks volumes and is an opportunity to stand out and really land those top candidates.
Create a positive experience for everyone. It's safe to say that most people can think of a recruitment process that was particularly painful. Find ways to make it a better experience for everyone: be timely, limit 'jumping through hoops', and most importantly, communicate.
This seems like a lot of work, what's the risk?
A Robert Half survey indicates that 86% of managers admit to having made a poor hiring decision. A 'bad hire' is estimated to cost 1.5 to 3.5 times the position's annual salary, and on average takes 27 weeks to take action to replace that person. These estimations are just scratching the surface and don't factor in harder to measure costs like lost opportunity on business growth and the reduced bandwidth of your top performers who take on the extra work.
We can help
VIMY HR can build a customized strategy to find the talent you need to successfully grow your business. We are invested in your success and can assist with the evaluation of your current recruitment strategy and tools to land top talent.