Three Reasons to Make Your Hiring Process a Top Priority
No priority is more important to your business than hiring top talent. Yet, recruiting tasks often end up at the bottom of the “to do” list. Here are three reasons why hiring process should be at the top of your list:
1. Top Performers Make Big Impact
Research shows top performers generate 80% of your business results.
In fact, one study showed they make 300 X more impact on your business than your average performers! As a result, those employers who attract top talent have more business success.
2. Speed Improves Hiring Outcomes
When you need an “A player” for a key position, you have to move quickly. Did you know the top 10% of candidates will be gone from the market within 10 days? Improve Hiring Results With Speed If your process is slow, top performers will think you’re not serious, or that you’re slow at everything. This often results in losing top candidates to your competitors. And, if they are still available, when you’re ready, you may have to pay more. By this time, they’ve had multiple interviews, driving up salary expectations. The most common bottleneck in hiring process is the manager’s desk. For this reason, hiring manager accountability is key to speed. By designing a fast and effective process and establishing accountability, you’ll improve hiring outcomes and attract top talent.
3. Better Hiring Process = Higher Employee Retention
When managers “own” the need for results, the chance of a successful hire increases. Having “skin in the game” encourages better decision making. It also inspires managers to improve on-boarding and mentoring of new hires. All of these dynamics improve employee retention.
To create that ownership of results, reporting can be useful. We’ve all heard, “what gets measured gets done.” One of our clients proved the success of this strategy. The President of a large General Contractor started a weekly recruiting call with all hiring managers. Before the call, a report was distributed, listing all open positions, hiring manager assigned, and activities since last call. This transparency improved hiring results and the company’s ability to attract and retain top talent.
For more information on attracting top talent or improving hiring results, Call Kathy Cole, at 630-282-7747 or email her at firstname.lastname@example.org.