Stephanie Klein, president and CEO of the Experience Factor, is a regular columnist for the Denver Business Journal. Her most recent column is reposted here.
Competing effectively for top talent shouldn’t be about doing the same things you have always done and hoping for a different result. Many current hiring challenges are reminiscent of the similar challenges we faced in the 1990s.
Let’s begin with a brief explanation of the hiring market of that decade. By 1996, the latest recession was over, technology was starting to impact every major institution, while tech firms, dot-coms and telecom companies were all the rage. The economy’s growth was unbridled; company profits and IPOs hit an all-time high, setting off a fierce competition for top talent.
In response to the intense need to fill key positions, many organizations were forced to evaluate and consider a candidate’s future potential and track record of success rather than focusing solely on, and waiting for, an exact skill set. Because technology was evolving so rapidly, hiring managers simply couldn’t wait for the perfect candidate to appear and apply. Most people looking for work did not have an exact skill set, but they leveraged transferable skill-sets to appeal to a hiring manager.
Once this “war for talent” was declared, many companies rolled out unprecedented perks and incentives. The objective was clear: win top talent and discourage turnover. With unemployment near 5 percent nationally, the employment pendulum was decidedly on the employee’s side.
While our current post Great Recession economy is hardly nearing the same exuberant point, most would agree that the worst is behind us, new jobs are being created, and there is forward momentum. Unemployment has finally dropped to a national average of about 6 percent. There are still many people unemployed, namely those who don’t have degrees/certifications, or those with limited technology skills, or even more challenged are those whose previous job was in an industry that is no longer in existence. Meanwhile, competition for highly skilled, specialized and seasoned professionals is actually greater than ever.
Interestingly, though, is that many employers still haven’t fully accepted and recognized that when seeking top talent to grow, the pendulum has clearly swung back to being an “employee’s market.” Many employers are still recruiting for candidates who don’t exist, or are using job postings that inadvertently weed out the weak but do little to attract the best. Yes, folks, we are back to the future. If you feel like you’re not seeing the type of talent you want or need to grow your business consider the following:
Sell your mission and culture. In this business climate, remember you are always competing for talent. Fine-tune your social media channels to trumpet your company’s reputation and attract passive candidates. Don’t miss an opportunity to share successes, describe your ongoing activities, and engage in topics relevant to your business. Keep defining who you are through your website, LinkedIn, Facebook, and Twitter. These messages should help focus and motivate your current employees and serve to build a community of people interested in working for you. Also consider truly revamping and investing in your employee referral program, providing incentives for the people who know you best to recruit colleagues with the experience you seek.
Stop posting skills specific jobs. If your process involves posting a basic job description with no compelling call to action, don’t be surprised if the people you’re hoping to attract don’t respond. The best candidates are looking for stretch assignments or significant career moves, not the chance to “complete all tasks in a timely manner.” They are looking for rewarding work, beyond financial incentives. If you must include a list of responsibilities and requirements, at least start with a description of how the role contributes to the wider organization. During interviews, be ready to identify opportunities for growth, and try and identify mutual values and purpose. If your organization doesn’t already have a formal mentoring and staff development program, consider instituting one.
Blend high touch and high tech. In our effort to use technology to make our lives more efficient, we sometimes forget that hiring needs to be a thoughtful blend of both high touch and high tech. Too much technology can inadvertently send a message to top talent that your organization doesn’t value people or their time. When is the last time you tried to apply for a job to your own company? Try it and evaluate your experience. What the process easy or difficult? Was the process warm and engaging, or clinical and black-hole like?
Invest in training. Most in-house HR or recruiting managers have not been schooled in the nuances of recruiting in a tight labor market. They need to learn how to sell your company and value proposition to potential candidates. They may need training or support from senior leadership to work more effectively with line managers to create realistic hiring expectations. Posting and praying is an exercise in futility and frustration. If your HR department is busy with other aspects of supporting the business and the lack of hiring is causing your business to stagnate, invest in adding professional recruiting staff, or hire a trusted outside recruiting firm for support.
As the American poet Archibald MacLeish famously put it, “There is only one thing more painful than learning from experience and that is not learning from experience.”
The post HR Strategies: It’s Back to the Future with Hiring appeared first on Experience Factor.