How successful companies hire new staff
Whether you are a small, medium or large company, you want great people working for you. And you want to find these people quickly and without spending a fortune.
Most companies would admit that their hiring process could use a makeover. Streamlining your recruitment process may take some effort now, but should save you time and money in the future.
Despite living in a world where analytics controls everything, most companies aren’t making the most of their recruitment process. Recruiters ACT Bridge, recently conducted a survey which found that 56% of US employers don’t measure the return they’re getting on talent investments.
Here are the key ways to cut down the search for your perfect candidate and save some cash in the process:
1. Create an employee referral program
In 2011, employee referrals accounted for the number one source of external hires. Referrals beat company career sites, social media and large job sites. Referrals often make better and longer lasting employees. Referred employees are proven to last twice as long as candidates who come into your company through other channels.
Your current employees understand your company and refer those who they believe will also make great staff members. If your company does not have a referral system in place, you’re probably missing a trick, and hiring the wrong types of people. Bad hires can lead to as much as five times the hire’s salary, according to the Society of Human Resource, so it makes sense to get one up and running.
Make the program accessible to all workers and promote it. Offer an incentive, for example a bonus after the new candidate has been hired for 3 months, to encourage staff members to take part.
2. Make your career site a talent community
Only one out of ten candidates will visit a corporate career site and apply for a job. Career sites are often long winded and take a lot of time to join and enter details. Allow your candidates to apply quickly, even when there isn’t a job opening. This encourages the candidate to build a relationship with you over time.
Assign a manager to engage with candidates. Encourage them to return and join a conversation, by posting blogs, industry news or other information that will get them excited to work for you.
Next time, when you do have a job opening, you have a talent pool of people who are engaged with your brand, and are eager to work for you. This should dramatically cut the time it takes to fill a position.
3. Vet your candidates
This may seem an obvious one to some companies, but not all employers do this. ‘Google’ your candidate. Check their social media accounts for anything that would adversely affect your business. Remember to take into account that social media is mostly used for; you guessed it, being social, so some of the content will be suited to their personality, and is easily taken out of content.
Another thing to check out is wide claims on their CV. If something seems to goo to be true, it probably is. Make a few calls to check that they aren’t lying on their CV. This may seem like a cynical approach to hiring, but this will save you money in the long run. No one wants to hire, then fire someone for fabricated qualifications or derogatory comments made on their Twitter feed.
Using these key points should hopefully cut down your cost and the time it takes to hire new staff. It allows you to spend more time nurturing existing employees and building the team that will grow your company.
What are other ways you can reduce cost, time and effort when hiring? Let us know below.