Everyone knows that running a successful business means engaging in constant competition. The market is a non-stop MMA battle for supremacy. But, while everyone intellectually understands that success requires persistent struggle, they sometimes forget how completely that competitiveness impacts every aspect of corporate life.
Take hiring as an example.
Recruiting the best team requires a constant battle for talent…the same level of economic slugfest as winning new clients or launching a new product. More precisely, luring premium employees is more of an arms race than a street fight. If you fall behind the latest trends, you will miss out on the top prospects.
This failure can trickle down to the rest of your business. Without the highest-level employees, you don’t have the personnel you need to innovate or even to compete effectively. Losing the recruiting battle has a multiplier effect that drags down your entire business.
This dynamic makes it critical to be a front-runner in new hiring techniques. You become the top choice for stellar talent, allowing you to build the best team possible. Here are a few things to keep in mind as you look to become a recruiting leader in your industry:
Lean on Video
Video is quickly becoming a universal aspect of the recruiting process. As we point out in our comprehensive eBook about the future of recruiting, nearly two-thirds (63%) of human resource managers either regularly use video or have used it during a recent round of hiring. And the impact of the COVID-19 outbreak is only accelerating this trend.
By incorporating video into your recruiting efforts, you dramatically streamline the process. You can use automated video interviews to fast-track your initial contact with candidates. Later in the process, video offers an efficient and cost-effective way to build a relationship with your top prospects.
Build a Talent Pipeline
Being a front-runner in the recruitment space means getting the most out of your efforts. After all, the average cost-per-hire is estimated at more than $4,000. Anything you can do to reduce that amount will ultimately boost your bottom line.
A well-managed talent pipeline represents a critical way to maximize your resources.
Each time you run a hiring process, you meet lots of qualified candidates. However, you only have positions for, at most, a handful of them. Developing a talent pipeline means staying in touch with the best talent that you didn’t have a slot for this time around.
You can keep them in mind for next time, or you can use their talents on contract assignments. It gives you more flexibility in the near term and builds a roster of passive talent you can use in the future. Having the pipeline in place streamlines your process during your next recruitment cycle since you already have vetted candidates you can contact when a position opens up.
Take Advantage of Flexible Staffing
Building a talent pipeline should represent one component of a larger strategy dedicated to creating as much flexibility as possible. This provides both operational and recruiting advantages. On the business side, you are better able to adopt quickly to a changing marketplace (as happened when the COVID-19 outbreak first began to impact the economy).
For hiring, having a flexible strategy lets you treat your best candidates as individuals. You can accommodate various schedules and family situations. It gives you another selling point as you attempt to woo extraordinary talent.
Becoming a front-runner in recruiting leads to improvements all through your company. Partnering with a reliable staffing firm, like Recruiting In Motion, cements your place as a leader in your industry.
Map the Future of Hiring.
Contact Recruiting In Motion today to learn more. Also, check out our comprehensive eBook for a detailed look at the future of the hiring industry.