Do you have millions in your budget to hire candidates who are dedicated to quitting on you four months down the line? Do you hope for additional team members who will create dysfunction and chaos within an already amazing company culture? How about disengagement — you must need someone on your team who is fully committed to wasting time?
If you answered no to all of the above, you can probably understand, then, how essential it is for companies to hire the right people.
The real cost of hiring is a topic that has been discussed time and time again but the brutal truth is that we keep making the same mistakes because we aren’t leveraging our resources to make smart hiring decisions.
First and foremost — get your employees involved! YES, Referon is an employee referrals platform and we want to promote leveraging your existing talents to find new hires. *Of course! But beyond that you have an opportunity to get employees from different departments collaborating on potential new hires. You also create a link for your employees to the success of the company. Employees who refer new hires feel proud when those hires succeed in their positions (Entrepreneur). Referrals are #1 in employee retention rates after 1 year at 46% vs. 33% for other sources according to Undercover Recruiter — but we don’t wanna brag.
Don’t expect traditional models to produce innovative solutions. It’s like expecting a fax machine to connect to Instagram. The traditional recruitment methods are “long in the tooth” (meaning old af). Gone are the days of considerations being limited to location, remuneration, company, job role and progression. Talented employees now work remotely, care more about social impact than salary and want a role that allows them to make an impact in the company. The traditional model reads a bit like a roulette game where you place all of your bets on getting a candidate through to different stakeholders in the hopes that they come out victorious and you can check another role off your list. And let’s be honest, cultural fit means different things to different people (ahem, unconscious bias, ahem).
If you want to avoid being part of the bad hiring club where a poor hire at mid-manager level with a salary of £42,000 can cost a business more than £132,000 (REC); transparency is key. Be open and honest with candidates about things like company culture, team management and career progression — and make sure if you are using and external agency that they are well informed on all topics. Talent acquisition is not a sales role — and it shouldn’t be one. The focus should be in making sure there is a match and expectations are met on both the candidate side and the team side so there are no misconceptions about roles and responsibilities.
Onboarding is a prime opportunity for employers to win the hearts and minds of new employees. Don’t waste it, experts say (SHRM). A good onboarding program can really help new employees feel engaged and help set clear expectations. Open lines of communication can set the stage for a collaborative team member early on — and let’s be real, who doesn’t love the idea of a buddy on the first day to show you where the good biscuits is kept? Good onboarding can make a new employee feel like part of the team; great onboarding can turn that employee into your brand ambassador. Your choice.
If you’re looking to double up on awesomeness in your company, check us out at referon.io