How do you attract the best employees? It’s a question that all businesses grapple with. As most hiring managers will testify, finding qualified candidates who fit in with your company’s culture can be extremely challenging. In data published within Deloitte’s 2019 Global Human Capital Trends, researchers noted that attracting and retaining qualified talent are among the biggest challenges faced by recruiters.
1. Recruiters need to develop a candidate persona that reflects their ideal candidate for each vacant role.
2. Employee referral programs encourage existing employees to actively participate in the hiring process. These programs are an excellent means of executing fast and cost-effective hires.
3. 80% of talent acquisition managers believe that employer branding has a significant impact on their ability to hire remarkable talent.
4. Recruitment automation can accelerate the time it takes to execute a hire, reduce the costs per hire, and enhance recruiter productivity.
5. Employers need to diversify their outreach strategies and consider academic programs, specialized job boards, or networking events when searching for talented professionals.
Erica Volini, leader of Deloitte’s Global Human Capital team, notes that this is influenced by increasing automation adoption rates, which call for a host of technical skills that many in today’s workforce simply do not possess. Volini adds that a large number of employers believe that many of today’s college graduates lack the necessary communication, collaboration, teamwork, and complex thinking skills — all vital skills needed to thrive in the modern work environment.
Additionally, there is also the fact that senior employees are retiring. Considering all of these factors, it’s hardly surprising that recruitment has evolved into an intensifying competition for talent.
So, how can your organization attract and retain the best talent? This guide will showcase five recruiting strategies that you can use to connect with top candidates.
Recruitment strategies to attract the best talent
When you consider everything that’s needed to replace a staff member – advertising job vacancies, screening, interviewing, selecting candidates, employee onboarding, and training – it’s easy to see why hiring is such a time-consuming and costly process. This applies equally when hiring in-office, or hiring remote workers.
Employing the right talent is a key component of every company’s strategic HR management. As such, it’s essential that your recruiting strategies and methods are optimized to be successful.
Develop a candidate persona
To connect with top talent, you need the best possible candidates to quickly notice the positions that you’re advertising. However, before this can occur, it’s necessary to define who your ideal candidate is. This is done by utilizing research, data, and facts to develop a candidate persona.
In recruitment, a candidate persona is a profile that represents your ideal candidate, in relation to a certain role. This can include your ideal candidate’s educational background, professional qualifications, skills, work experience, personal interests, and much more.
When you know precisely what you’re looking for in a prospective employee, you’re able to customize your recruitment strategy to attract the most suitable candidates.
By formulating a candidate persona, you can:
Strategies for developing a candidate persona
Create an employee referral program
Alongside social media and online job boards, employee referrals are one of the major sources of quality hires.
Employee referral programs are structured programs in which you ask your employees to recommend suitable candidates for vacant roles. More than any other source, your employees understand the type of candidates that you need to hire. Consequently, this makes employee referrals a superior recruiting tool, which results in reduced costs, lower turnover, faster hires, and improved workforce planning.
Creating an employee referral program
Once your business has decided to develop an employee referral program, there are a number of steps that need to be implemented. These steps are outlined below:
Identify your hiring priorities
Would you like referrals for each of your open positions? If you have a limited hiring budget, employee referrals can be an excellent way of executing a fast and cost-effective hire. Referrals also work well for:
Develop a referral policy
Each company’s referral policy needs to highlight the referral process, hiring expectations, vacant positions, and the relevant incentives and benefits. The referral policy should be drafted in a clearly worded document and made available within the company’s intranet or HR software platform.
Simplify the referral process
Whether you’re searching for a casual employee or looking to fill a senior position, your employee referral position must be easy to use.
Utilize incentives and recognition
Incentives for successful referrals can be both monetary and non-monetary. For non-monetary incentives, you can be as creative as you like. The idea is to get as much buy-in from your team as possible.
You can offer gift cards and certificates, a publicly announced thank-you, leisure packages, certificates of appreciation, flexible working hours, or even paid time off.
Analyze the program’s success
Just like any people management or employee program, it’s necessary to measure what’s working and identify areas that can be improved. Metrics to be tracked include:
It’s also important to look at how satisfied your candidates, referring team members, and hiring managers are with the referral program.
Improve your employer branding
To create a successful talent acquisition strategy, it’s critical to focus on your employer branding. This is highlighted by a 2017 LinkedIn strategy that found 80% of talent acquisition managers believe that employer branding has a significant impact on their ability to hire remarkable talent. For many potential recruits, the branding of the company is how they present their ‘employee value proposition‘: The value a company brings to an employee in return for the value the employee provides.
Before accepting any new position, talented candidates will meticulously compare companies. These candidates will invariably choose companies that offer the best culture, work-life balance, and opportunities for growth: Candidates search for the best employee experience. If your company can cultivate an appealing employer brand, you stand a much better chance of attracting high-level talent and finding long-term success.
When reframing your branding, consider how you can focus on the best aspects of your company’s culture and values. As well as highlighting your compensation and benefits packages, you could make reference to your company culture, in which employees enjoy a supportive and collaborative environment. Additionally, you could mention the growth opportunities offered by your company, along with an emphasis on your company’s work-life balance.
Employee review sites like Glassdoor, as well as the ‘About Us’ page of your website, are excellent platforms to showcase your company’s unique attributes. This can be the difference between highly qualified candidates selecting your company over your competitors.
Expand your outreach strategies
To connect with high-level talent, it’s vital that you expand your sourcing strategies. Ultimately, different skill sets require different methods of outreach. You’ll find your best sales managers in a different place than your best programmers, which means you need to diversify your sourcing approach.
Instead of spending the bulk of your time on LinkedIn, you should consider academic programs, specialized job boards, or networking events where you have the opportunity to find a specialized group of talented professionals.
Employers need to identify the places in which they can find top talent, whether that be conferences, professional events, social media, or online forums. Once this is done, the focus can shift to strengthening relationships and networking with the right people. This enables employers to increase their pool of candidates, maximize brand awareness, and enhance their ability to attract talent in the future.
Take advantage of recruitment automation
Recruitment automation is defined as a human capital management strategy that utilizes technologies like artificial intelligence, predictive analytics, and machine learning to automate the recruitment process. This has the ability to accelerate the time it takes to execute a hire, reduce the costs per hire, and enhance recruiter productivity. It has also been shown to improve the quality and effectiveness of a company’s workforce.
Recruitment automation is utilized by companies hiring at scale, as well as those seeking to achieve better hiring results in the shortest space of time.
Implementing recruitment automation
The below-hiring processes can benefit through recruitment automation
Recruiting top talent is an essential means of securing your company’s future. However, the current job market has never been more competitive. To ensure your company stands out from the crowd, it’s necessary to develop a recruitment strategy that showcases your business in the most appealing light.
By creating effective candidate personas, maximizing brand awareness, and utilizing an employee referral program, employers can better connect with top talent. This, combined with recruitment automation and diversified outreach strategies, is the best way to discover the talent your business needs.
How New Horizons can help
As the only Global Professional Employer Organization (PEO) with a dedicated, in-house recruitment team, New Horizons enables your business to attract the best employees across all industry verticals. With recruitment capabilities in more than 150 countries, our experienced team of global headhunters works meticulously to source, hire, and onboard your global workforce. Through our comprehensive HR platform, we also provide post-placement services that include global payroll compliance, local payroll sponsorship, and compliant labor contracts.
Our Global PEO and Employer of Record services allow your business to expand internationally, without the burden of establishing costly foreign entities. We manage all risk mitigation, compliance, taxes, benefits, and global payroll. This allows you to focus your efforts on growing your business in your new market, whilst still maintaining autonomy and control over your employees.
Our suite of expansion solutions let you go to market in as little as 48 hours, whilst saving up to 85% on traditional expansion costs.