Finding the right talent for any role is difficult and over 90% of employers state that retention of new employees is a problem for their business. Not only do low retention rates disrupt the company and culture but it is also an extremely expensive and time consuming issue. Here is why you may be making the wrong decisions when employing new talent and how you can maximise good hiring:
1. Make your hiring process shorter
Oakstone have always said “Time kills all deals”, and it’s true. There are currently skills shortages within many sectors, especially commercial roles within technology industry and the right talent will be hired by somebody else if you don’t close them. Passive candidates also don’t want to be waiting for a long period of time for a role they don’t need. Eliminate long hiring processes and screen candidates quickly to avoid losing the right talent.
2. Change your talent pool
You can’t expect to do the same thing over and over again and expect different results – just like you can’t look into the same talent pool over and over again and expect someone fantastic to come out of it. Using recruiters is a great way to target new, talent individuals who may or may not being looking for a new position.
3. Background check
Lots of companies waive background checks to save time and choose to trust CV’s and LinkedIn profiles. Explore gaps in their CV and find out why they are there. It might prevent a bad hire.
4. Don’t be bias
We all create assumptions about people when we meet them and a lot of the time we are right however bias can often lead us to create the wrong decisions about the right person for the role. We also rely on the interview process too much. We now have the technology to research into talent and HR analytics enables you to make effective hiring decisions by identifying the most qualified candidate for your role based on job specific criteria and historical data, rather than ‘gut feel’.
5. Don’t rely on active candidates
Active candidates are the people looking for new roles, and actively applying for the positions. When you post an advert for a role and have people applying for that position you are limiting yourself to only the people that see your ad. By having the means to target passive candidates you are opening up a field of potential candidates for your role, making sure you have the best possible talent to make the right choice.