3 Recruiting Strategies That Capitalize Your Most Valuable Asset

by | May 23, 2017 | Blog

  • Ann Mulcahy

Let’s just say it – recruiting is hard.

It is very stressful for small business owners to find high caliber, experienced employees who fit their culture. Because every smart business owner knows that employees are key to attaining positive business results.

Just Google, “What is the most important asset of a business?” and you’ll receive millions of results with key words like employees, employee retention, human capital, and more.

In the end, they’re all saying what you already know, the most crucial asset of your business is your people.

Many business leaders claim to value their employees; however, few choose to implement recruiting strategies that communicate this ideal.

Hiring new employees for your team is more than just identifying candidates who have the technical skills or experience. You need a strategy that attracts people who meet your performance standards, thrive in your culture, and contribute value to your company.

Below, you’ll discover 3 recruiting strategies we’ve compiled for you. Implement one (or more!) of these strategies to help you protect and grow the most important asset of your business – your employees.

If you’d like help defining your organizational culture, building attractive job descriptions, or developing effective recruitment strategies for your business, give us a call at 877-753-0970 or learn more about our recruiting services here.

3 Recruiting Strategies That Capitalize Your Most Valuable Asset

1. Recruiting is Investing.

Under the pressure to fill a vacancy, it is tempting to neglect or accelerate the recruiting process in order to satisfy an immediate need. However, recruiting should be one of the most strategic and thoughtful investments you make in your business.

We have a little mantra around our office that goes, “Hire slow; fire fast.” Anytime we start to worry about filling positions, we remind ourselves of this saying.

So, how do you approach recruiting as an investment strategy rather than a productivity obstacle?

First, don’t discount the importance of acquiring the best talent. Hiring new employees is an expensive endeavor and even one “bad hire” can cost your business valuable resources.

Second, don’t allow discomfort or inconvenience caused by open positions to force you to settle for unfit candidates.

According to a recent survey by the Society for Human Resource Management, the average cost-per-hire is $4,129. Extending the recruiting process to find the right fit will be more profitable than hiring and losing a candidate that didn’t meet your needs.

You may have to be patient and creative, but investing time and resources into hiring the best talent will help you achieve your long-term organizational goals and will increase your business’s value over time.

2. Recruiting is Marketing.

With the unemployment rate reaching its lowest level in more than a decade, attracting and retaining top talent is becoming more challenging. Businesses are competing for excellent candidates and job-seekers have a variety of companies to choose from.

Passively posting a job description on your company website and waiting to receive qualified responses is no longer a viable option. Companies that want to attract the best talent must take an active approach to recruiting – they must market.

Start by building a recruiting strategy that includes multiple ways to identify candidates. Increasing the methods of sourcing candidates is crucial for discovering individuals who fit the needs of your business.

Don’t forget – develop metrics that measure the results of your recruiting efforts to ensure you are focusing on profitable sources.

Then, incorporate your brand into your recruiting process. Job descriptions, advertisements, and interviews are opportunities to communicate your unique company culture, mission, and standards.

The combination of recruiting and marketing increases the likelihood that the candidates you assess will be interested in and attracted to your company’s brand.

3. Recruiting is Fitting.

Skills, education, and experience are all important and desirable qualities when evaluating candidates. But of equal, if not higher, importance is a candidate’s cultural fit.

(Be sure to register for our online webinar about “Setting Up Successful Teams for Positive Business Results” where we will share the tools you can use to select top talent, develop a great team and cultivate effective professional relationships. Register here.)

Recruiting and hiring for cultural fit means that the candidate has the aptitude to adapt and thrive in your company environment. What are the most important values, qualities, and traits an employee needs to succeed in your company and in the available position?

Seek to hire candidates that are compatible with the characteristics of your culture.

For example, does your organization have clearly defined roles or fluid assignments?

Assess candidates for their structural preferences during the recruiting process to find a good match for both your business and the employee. Evaluating such skills prior to hiring is helpful, because it is difficult to teach an employee to tolerate ambiguity when they desire structure.

It is clear that employees who cherish their company culture contribute to the value of their organizations and are likely to do so for longer periods of time.

When employees fit well within their company culture, they are more likely to exceed and enjoy their roles, and businesses are more likely to retain and increase the value of their employees.

Let’s Sum It Up

The recruiting process can feel complex, but if you approach it with one of the three strategies described above you will attract people who add incredible value to your company’s mission and culture.

If you’d like help defining your organizational culture, building attractive job descriptions, or developing effective recruitment strategies for your business, give us a call at 877-753-0970.

Learn more about our recruiting services here.

Download Our FREE Resources

A list of our useful HR resources