Finding great talent has always been challenging for business owners. It takes too long and costs too much. Often, that’s because most recruiting is done in ‘reactive mode’. In other words, business owners only begin the process of recruiting when a need arises, such as an employee leaving or a new bit of business coming in.
While there’s always going to be a need for reactive recruitment, smart businesses are wising up to the benefits of recruiting roles before they’re needed. This may seem risky but given great people attract great work there’s a compelling case for focusing on growth and taking on great people in anticipation for the great work they will bring to the business.
With that in mind, here are three tips on how you can embrace a more proactive and positive approach to recruitment.
- Lead from the front; don’t play catch-up
This first step to hiring for the needs of tomorrow is to stop thinking hiring processes are static and ‘just the way they are’. Research we conducted last year found 56 per cent of new hires fail to meet their job specification within the first two years. That means after the average 60 days and $15,000 it takes to recruit a new hire, over half simply don’t work out.
That’s a low success rate for a model many have been stuck using for some time. It’s also why more businesses are challenging the norm by embracing technology and data–rich platforms that bring a more scientific approach to candidate selection.
- Look to new solutions; ditch old legacy systems
Although many businesses have turned to the internet to help source talent, the length of time it takes to find the right person remains unchanged. That’s because web-based tools have opened up access to potential candidates but not done much in the way of helping find exactly what you need, or attracting them to you when you do find them.
Take LinkedIn as an example. The tool is a fantastic resource for professional networking but less useful for recruitment. It’s hard to validate candidate date, assess whether they’re open to discussing a new role, and given they’re likely not looking – hard to make the right approach to engage them in your opportunity. To be successful in recruiting (and reducing the time and cost it takes) take a critical look at the tools you use and rate them based on their success so you can clearly understand what’s helping and what’s not.
- Maximise your talent pool and leverage data insights
Put simply – the trick to finding the talent you need quickly is by accessing a large pool of talent and then using smart technology to search the pool for those that match your requirements. When you’re using this type of tool you can be confident you’re exploring all possible opportunities and searching out candidates most likely to meet your current and future requirements.
It makes sense when you look at it like that – increase access to potential talent and get clever on how you review that data. Despite this thinking, it’s surprising how many businesses continue to hire in the same old ways.
It’s even more surprising when you consider how technology has changed so much of what we do in and outside of work. Whether it’s dating, shopping or ordering a cab, technological innovations mean we have more choice, freedom and control over aspects of our lives we previously accepted as ‘it’s just the way things are.’
The best way to build your dream team is to be open to new sorts of candidates from a variety of sources. Always have your eyes open and challenge the status quo of hiring. The more you are looking into new ways, the more you’ll find those perfect candidates to build that dream team.
About the Author
Ben Hutt is CEO of The Search Party, an Australian-based data science tech platform that is speeding up and reducing the costs of hiring in Australia.
Hutt has over 15 years’ experience in transforming business productivity, management consulting, and problem solving with top-tier firms including Macquarie Group and PwC Consulting. He is married with three children and is an Ambassador for Opportunity International.