Recruiting is like fishing. You can make excuses for a lack of fish but the real problem is where you fish and what bait you use. This reasoning opens a new article on ERE.net by recognised consultant in human resources management and professor of management at San Francisco State University John Sullivan. The focus is on the controversial topic of luring talent from competitors.
Sullivan claims talent shortage is a myth. "The myth of the talent shortage begins when you focus on the needs of an entire industry, rather than the needs of your own firm," he says and recommends asking how many people in the relevant profession are located within 50 miles of your company. A real shortage would exist if the answer was zero. The fact people are currently working for someone else does not mean they can't work for you. The problem is not talent shortage but your firm's inability to attract talent. The reason is usually one of the following three problems:
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weak employer brand
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obsolete or ineffective recruitment tools
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less interesting job opportunities and worse working environment than the competition
How to overcome a shortage of talent in your firm
The economic situation is improving. However, if you don't improve your recruitment and employer brand building strategy, you will experience an even worse talent shortage. Sullivan recommends the following steps.
1. Prepare a business case
Together with the financial department, clearly quantify the impact of improving the recruitment function on the firm's bottom line. Even the most expensive recruitment function in the world does not use more than 1% of the total company budget.
2. Focus on your competitors
There is no other option to gain already proven talent. Thanks to social networks, it is very easy to identify people you want to hire. But this is only the beginning. You have to come up with an offer they can't refuse.
3. Work more with data
You can't just copy the best practices of the best firms in the market any more. You need your own data. Start by measuring the quality of hire, monetary value of your top performing employees and the most successful recruitment channels.
4. Build a strong employer brand
Involve both your managers and employees in the development of your image as an excellent employer. Focus on social networks and job fairs.
5. Do not offer only money
The best workers want a job they will like, find challenging and through which they will have a significant influence over something. Money alone will not persuade them. Be prepared to offer, for example, various forms of flexible working. You should also hire and develop top managers. The best workers will not work for bad bosses.
6. Do not be afraid
To get the best talent in the market, you have to have courage. Your managers and HR professionals should not be afraid to attract talent from your competitors. They must be aggressive enough and see competition for employees in the same way as competition for customers. Is it unethical to lure a customer away from a competitor?
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