Talent acquisition is back!
The labor market is recovering. Are you ready? Listen to a manager’s conversation with his boss during a hiring decision process… “Don’t worry, the candidate will wait for us. We’re the ones with the job. The market is still tough,” Dave told the boss of him . Three weeks later…”I really thought we had this one! I mean, it’s a great opportunity and they wouldn’t have to move. Look, I’m sorry. I didn’t think they’d take the other job. I know it’s a loss to our competitor. I promise, it won’t happen again,” Dave said.
The tide is out, and in certain sectors, it has turned. Talk to recruiters in the software field. It’s getting hot again!
If you haven’t already, now is the time to evaluate and strengthen your hiring processes. Several companies, which may have had strong hiring processes in the past, have abandoned their practices in recent years. The reasons are varied. There have been recruiting and HR team cutbacks, restructurings, and perhaps most importantly, companies just haven’t been in recruiting mode and organizations, like the people in them, lose skills when they’re not being used.
Let’s take a look at Dave again. First mistake, he thought he had a lot of time. Really good people, especially those who are passive candidates, don’t have to wait for an opportunity. They are valuable in any market. His second and third mistakes were not having a robust “waiting to wing” process and not investing the time it takes to produce a quality new hire. Most likely, resume reviews, interviews, and communication with candidates, including the one he lost, weren’t neat, disciplined, and thoughtful. When hiring professionals, companies bet on a significant investment.
If you were given $110,000 to purchase a resource for your business, due diligence would be required. You would be very clear about the requirements and needs that this new resource must cover. I would understand the specs and check references through other buyers. You would also understand that the price and availability of that resource can change if too much time passes. Bringing in a new human capital resource requires the same discipline and more.
The next time you’re about to hire, treat the process with the same detailed consideration you would any major project.
- Be very clear on the requirements and specifications
- Assign a team of 3 people who know the position and can interview and TRAIN them effectively!
- Develop a timeline that includes proper communication and recording, the devil is in the details
The next step is to paint the picture, that is, to set a context for the position you are about to hire. Painting the picture is especially important for management positions that tend to be complex, fluid, and located within a matrix organization.