This guest blog post is courtesy of Mary Anne Osborne, SPHR, and principal of the Osborne Group. Mary Anne is a people-centric HR professional and consultant with over 25 years of HR experience in telecom, finance, manufacturing, healthcare and higher education. Mary Anne presents monthly on our complimentary Sage Refresh and Recertify Webcast Series that are approved for 1.00 recertification credit hours toward PHR, SPHR and GPHR recertification through the HR Certification Institute.
One of the top concerns among human resources and businesses across the nation is talent management—or lack thereof—within an organization. If your company is struggling to attract and retain talent in the workplace, it may be time to reevaluate the way your human resource team is going about the recruiting process.
The Cost of a Bad Hire
A strong recruiting process is essential to help foster growth and sustainability within a business. Without a strong recruitment process in place, organizations face the consequences of a bad hire. According to a recent CareerBuilder survey, more than 40 percent of employers in the United States have made bad hiring decisions. These bad hires not only waste precious company time, but they can also cause a huge financial loss within the business. In fact, respondents to the CareerBuilder survey reported that they lost an average of $25,000 in 2012 because they selected the wrong candidate for the job.
Too often, organizations pressure the human resource team and hiring managers to find a candidate and get them into the workplace “ASAP!” Instead of trying to fill a vacancy as soon as possible, step back and take a look at the organization’s current recruitment practices.
Twenty-two percent of hiring managers from the survey said they hired a new employee even though they didn’t really get to know them well enough during the interview process. Meanwhile, 9 percent of respondents admitted that they didn’t even check a candidate’s references. Stop the cycle of a bad hire and save your company the trouble of losing time and money by reevaluating your organization’s current recruitment strategy. Here are a few ideas that bring tried-and-true recruiting practices and blend them with new, effective talent management methods to build a soundproof recruitment process that is the perfect combination of old and new methods.
Best of the Oldies
The most successful, business-savvy HR managers know that you don’t fix something that isn’t broken. In that case, these tried and true talent management practices have continued to help companies across the globe recruit the best of the best.
Start from the bottom line: In order to attract the right talent, you need to address what divisions are lacking within the company. What departments are falling behind? Are any of your employees staying late on a continuous basis because they are swamped with a work overload? These are the questions you need to ask yourself if you want to help your business grow. Aimlessly hiring employees won’t help the organization meet or exceed business goals.
Have a succession plan in mind: One of the most common mistakes companies make is that they overlook talent within the workplace. Before you start recruiting to fill a vacant midlevel or high-profile position, scan the office and asses the current workforce. This is an HR solution that can save time and money that is often wasted on trying to recruit outside of the company. Why extend your efforts if you already have the talent right under your nose?
Foster an employer culture that encourages employee engagement: During the interview process, it is likely that you’ll show a few of the final candidates around the workplace to help them gauge whether or not it’s a good fit.
New Recruiting Tactics
As organizations bring in new talent, human resource managers recognize that a return on employee investment has become increasingly difficult to maintain thanks to multiple generations working in one office. As baby boomers retire and Generation Y workers apply for their first jobs, human resources needs to assess what it is that job candidates are looking for in a place to work, what sort of benefits they value, and a way to blend these new ideas with older workplace traditions. Here are a few new practices business organizations are using to help meet the expectations of younger employees while maintaining the peace with loyal, long-term employees who are a few years from retirement.
Office Design: Cubicles and individual office spaces are becoming more obsolete in the workplace but are not completely extinct. Older generations, like the baby boomers, relate a personal office space as a means of recognition and reward for their hard work within a company, while Generation Y workers want an open-concept workspace where they can communicate openly with other coworkers. Consider combining an open floor concept in the middle of the office space to entice new employees and line the perimeter of the workplace with closed office spaces for mid- to senior-level executives and employees who have been with the company for a long period of time.
Make use of technology: Graduates entering the workforce are more technologically savvy than any generation before them. If you want to recruit top talent, your company needs to be stay on top of the latest technology trends and developments. This also means providing tools such as the latest payroll software solutions and employee self-service software. These tools help managers stay on top of employee management so they can better assess what areas of the company need to be improved.