The unemployment rate continues to decline in the United States, adding fuel to the fire in an ever-competitive marketplace for talent. This leaves many employers to wonder, “where have all the rockstars gone?” Here are a few things to keep in mind when searching for your next great hire.
Recruiting Starts Before the Job Opens
Remember that recruiting starts before you have an opening. Job satisfaction surveys, stay interviews, and exit interviews are all important pieces of your recruiting process. This way, you can identify the type of candidate you’re looking for. Identify these factors before you start the recruitment process.
Management style the new hire will work under.
Personalities of the team members the new hire will join.
Reasons people leave the organization and, more importantly, reasons why people stay.
You Get Out of Recruiting What You Put In
Too often, employers post on the local job board and hope the right person comes across the opening; however, your best candidates may not be actively looking. These candidates are known as "passive candidates." They are open to finding new job opportunities, but aren’t looking at job boards. Here's what you can do to find these rockstars:
Don't wait for the perfect candidate to find you -- find them. Tap into the passive candidate market the same way recruiting agencies do. Agencies typically make 200-300 phone calls to passive candidates every day. You don't have to make that many calls, but you can employ that same successful tactic by picking up the phone and reaching out to these candidates yourself to find that perfect rockstar.
Offer a lucrative finder fee to your current rockstars. Many employers pay referral bonuses, but the payoff isn't enough to motivate an already busy employee to reach out to his or her connections.
Better Pay Doesn’t Always Equal a Better Applicant
Most research indicates that pay is not usually the #1 reason employees leave. More often, poor management, lack of respect, or poor work/ life balance are cited as reasons employees leave.
According to SHRM, by 2025, millennials (those born from early 1980s to early 2000s), will make up approximately three quarters of the workforce. Forbes indicated that 78% of millennials are influenced by how innovative a company is when they select a job and 70% of millennials want to start their own business one day. Creating a culture that drives innovation may be more lucrative than providing a higher salary for many businesses.
Still Have Questions About Successful Recruiting?
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