Businesses have traditionally focused on building a strong strategy founded on two core areas: sales and marketing. Both disciplines are oriented with a common goal of increased revenues and a wider profit margin and, consequently, consume the lion’s share of resources. The larger the pool, the easier it is for these two departments to scale and improve their decision-making.
At long last, businesses have started waking up to the fact that recruiting and hiring must form the third pillar on which any successful strategy must be built. That’s why in 2019, your hiring roadmap needs to be confident yet flexible. It is but the next logical step.
Why Recruiting Merits Attention
In recent years, businesses have realized that though sales and marketing are two of the strongest pillars of a business, recruiting can no longer be ignored. If you’re aiming to build the best sales and marketing strategies, why not have an equally robust recruitment strategy as well?
Businesses might grow because they say the right things and sell more units, but those two are achievable only with a team of hard-working, creative and crafty employees. So not only does every organization worth its salt need a top-tier recruiting strategy, but one that is aligned to the realities of the modern market.
What to Consider for 2019
The tricky part about recruiting is that there’s no one-size-fits-all solution to your problems. Humans are diverse creatures with personalities and minds of their own. Getting them to dedicate a large part of their lives to your organization is not an easy win.
As talent leaders, you need to understand the complexity of the game: employment market conditions, labor costs, and individual ambitions are just a few of the aspects to consider. You should also be asking yourself how you can help candidates fulfill their ambitions while also achieving your organizational goals.
Here are a few specifics to keep in mind while developing your hiring strategy for 2019.
There are two aspects to consider here: organizational resources and financial compensation.
Resources are limited. Your department (like all others) has to make do with the budget allocated for the year. This gives rise to the concept of “opportunity cost”: using available resources in the best manner possible, while ensuring you’re meeting or exceeding targets. To accomplish this, you should have a list of prioritized goals or targets. Concentrate on filling roles that have the greatest revenue impact, for which you’ll need high-performing candidates who can incite or oversee rapid growth.
The second aspect, compensation, is no less important. In 2019, businesses will have to up the ante to ensure that they hire the best of the best. Decreasing unemployment figures indicate that candidates can afford to become (or remain) selective about their jobs, and that companies will have to pay them veritable bounties to get and keep them in your employ.
This is all about how you will acquire your talent pool.
First of all, you should build a brand people want to work with and for. They say your reputation precedes you, but being a company people want to be associated with is easier said than done. It mandates enough transparency in your operations to convince potential candidates they want to work with you.
Sourcing, meanwhile, is the actual task of finding potential applicants or candidates for your open roles. This begins with developing a clear roadmap; one that preferably includes a referral program to reward current employees for recommending the talent they know and love.
A recruitment process built to optimize candidate experience can and will work wonders. Candidates often reject job offers based on their experience during the recruitment process. They want to be treated with fairness and feel valued, not only when they join your company but even during initial interactions.
Work on making your candidates feel as comfortable as possible, and then “sell” them the job. Show them why they should join your organization. Quick and honest communication, along with real effort at building a trusting relationship, is imperative to obtaining and retaining quality employees.
Employers should build diverse teams, not solely for the purposes of fairness and equality, but to create an idea-centric workplace and cultivate cultural understanding among employees. Today’s America is more diverse than ever and is home to people from virtually every walk of life. Making all your employees feel at home isn’t just a something to work for; it’s a target you should actively pursue.
The other kind of culture to observe and cultivate is of the organizational variety. That’s not to say that everyone must conform to the same beliefs and personal code, but that there needs to be a shared set of values that help teams work towards common goals in harmony. Poor hires can cause more than just bottlenecks and delays; they can bring down a whole organization’s morale.
The Key Takeaway
Recruitment trends are evolving, and the US is fully expected to play a leading role in influencing global opinion on the subject. American businesses are starting to recognize the importance of an effective recruiting and hiring process, and the effects can be seen worldwide. Be sure to step your game up in 2019… and beyond!