by Darcy Bevelacqua, Managing Director, Analytics & CX
With the economy expanding, finding great talent is harder than ever. We’re seeing new trends that make it even harder to attract high quality talent. The power of recruiting is moving from the employer to the employee and we will need to adjust to retain and attract the best and the brightest.
1. Put the needs of candidates first
We need to begin our transformation by thinking about the needs of the candidates, not just the needs of the company. How do we nurture job seekers? Do we give them the same respect we give a potential customer? Do we make it easy for potential hires to find out about our job openings?
We have a new trend in recruiting called “ghosting.” This means a person who disappears, or goes missing in action without any explanation. According to NPR employees may not bother to tell you they are resigning, and they may skip on jobs without a text, email, or other communications. The same thing is happening with potential candidates. According to Cutch, a market insight firm, 50% of job seekers think it’s reasonable to ghost a potential employer, meaning they don’t show up for interviews, or work, and lose interest in the recruiting process.
No one is sure if this is because of the power shift in a tight market, or millennial malaise, or something else. Regardless, it’s a growing trend we need to avoid.
We need to start things off with new candidates on the right note. This means having a tight hiring process where everyone knows what to expect and candidates are constantly updated as things go along. Gone are the days where you can take weeks to get back to them.
2. Improving your Company Reputation
It’s also important to protect your company reputation. If you keep candidates in the loop too long, word spreads and it will come back to haunt you. Clear communications during the early stages are essential to avoid ghosting.
94% of potential candidates (ICMS study) will check out your company reputation on Linkedin, Facebook, Glass Door, etc. They listen to the opinions of their peers. One third of potential candidates have not accepted a job based on the employer reputation ( ICIMS Modern Job Seeker Report).The only way to counter this, is to get your employees to share their positive workplace experiences on these platforms and to recognize that employees are a critical part of your long-term success. Build your brand reputation by showing the world what good you do and building a workplace where people are respected and valued.
Implement an employee referral program. Make it easy for employees to share open positions and job postings with their friends. Recognize and reward employees for bringing new employees into the company.
3. Improve your on boarding process
As an executive recruiter we find the onboarding process in the first 90 days to be critical to the candidate’s success. You need to take time to get the new employee up and running. Introduce them to people they need to know, build a detailed 90 day plan that outlines the expected goals and outcomes. Be sure management and the employee participate in the plan. Hold regular meetings to provide feedback so the employee knows how to adjust their style to be successful. Look for some short-term wins to help the employee feel comfortable that they are making a positive contribution.
We think that all executives should have an executive coach for their first 90 days. This helps them make the required adjustment and get 360 feedback so they get off on the right foot. Making the right first impression can be the difference between success and failure.
4. Invest in your employees and your culture
Employees need to feel that they are developing and learning new things along the way. An IBM study found employees are 12 times more likely to quit when they feel like they aren’t developing. Find ways to challenge your employees and help them grow. This can be course work, attendance at trade shows, shadowing other employees, visiting with co-workers in other locations, special projects, time off for charity work etc.
Invest in your culture. This is a combination of your mission, values and work environment. On a regular basis be sure you are communicating your values and showing how you live those values every day. Employees want to be a part of something bigger then themselves, so think about how you want to reinforce your values. Ask employees what you could be doing that you are not. Highlight he values you want in your internal communications and be sure to celebrate your success and the employees who make it happen.
5. Think about your total offer package
Your total offer package is more than the salary/compensation people receive. It includes your employee benefits, your working environment, your cafeteria, educational opportunities, work-life balance, recognition, family leave policies, community service, etc.
One perk that is getting more attention these days is flexible work hours and the ability to work from home to help employees meet their family obligations. This enables employees to be more productive and increase their productivity while balancing their personal lives.
Recognizing employees and their teams for a job well done, so employees know your value their contributions. Gift cards for employee of the month, or those that have gone above and beyond.
Encouraging employees to take vacation is another important part of the work balance environment. Places who have unlimited vacation are finding employees may actually take less vacations. Be sure to have senior management take their full vacations so employees feel that taking their vacation time makes a positive contribution.
Summary
Make your company the place that people come to build their careers! Build an authentic culture and work to continuously improve it. With the market demand favoring candidates in high demand areas (i.e., Analytics, CX, MarTech), it is advisable to retain an experienced, well-regarded executive search firm partner to help find the right talent, shorten recruiting timetables, and assist in placed candidate transition support coaching/consulting. Pls. call our firm, Executive Connections LLC, if we can be of assistance in upcoming talent acquisition needs.