A company’s growth and success is dependent on the employees it hires.
When a company ends up employing an individual that is actually less-than desirable for a position, it equates to corporate losses equal to 30% of that person’s first-year income, according to the U.S. Department of Labor.
Even the largest and most desirable companies for people to work for are susceptible to this snafu. Zappos CEO, Tony Hsieh, has previously stated that his company’s bad hires have cost the e-retailer over $100 million; hence why the shoe giant offers new hires $2,000 to quit before they exit training.
The key to ensuring that your company doesn’t go bankrupt on bad hires is crafting a stellar recruitment process that helps weed out the undesirables and places importance on the right applicants.
Here are 3 steps to shaping a sophisticated recruitment method that translates into admirable new hires.
Write a Stellar Job Listing
In many ways, job ads have become an afterthought for employers. This is, however, an essential tool in the recruitment process.
The benefits of a great job listing are twofold – it attracts the right applicants while deterring those who are underqualified.
To properly create a listing that touts these advantages, it must be honest about the job itself while showcasing its interesting aspects and perks.
Equally as important as the job listing is where you post it. Places like Indeed and Monster are extremely prone to receiving tons of unqualified applications.
Instead of leveraging sites like these, seek out specialized websites or boards that cater to your specific industry.
What may be more fruitful, however, is posting on employment destinations like Woo.io. This sophisticated platform is extremely specialized in that it allows tech professionals to upload the exact perameters they are looking for in their dream job (like culture, location, and more). Companies can then approach these individuals (who remain anonymous until they accept a company’s proposal to learn more) with job offers. The rich machine-learning processes help to serve up relevant and potentially prosperous employee-employer connections.
This AI-driven approach creates a dynamic which is far more likely to drive top talent into the recruitment funnel and engenders high retention rates as the company fits the employee’s mold for satisfaction.
Save Time in Screening
In order to locate stellar employees, an intensive screening process is a must so as to not waste time on the wrong candidates while the right ones slip through the cracks.
Be sure that this process goes deep into the individual’s qualifications and personality with social media research, phone interviews, reference checks, and other background-probing methods. It is important to note that this only works if your company has already established what it is missing in skills and personality.
This process can be time consuming, however, and is prone to letting top talent get snatched up by competitors while they wait for you to call them. To kick this process into hyper drive, artificial recruiting intelligence platforms are a fabulous additional resource.
Tools like Arya are exceptionally capable of conducting intelligent screening analyses by integrating with applicant tracking systems and resume databases to understand which candidates possess the experience and skills that your company needs while even establishing their likeliness to move jobs.
This saves a good chunk of time by automatically filling the recruitment pipeline with top level talent and saves recruiters from sifting through stacks of resumes so they can get to the right people first.
Ask the Right Questions
Many companies ask a myriad of useless interview questions that serve no purpose for gathering data or getting to know the candidate such as, “What is your greatest weakness?” This doesn’t inspire honesty or tell you much of anything. Frankly, you’re better off asking absurd sounding questions like, “How many piano tuners are currently employed in Iceland?” At least this makes you sound creative and interesting.
Your interviewing process is the final frontier before hiring a new employee, so your questions had better serve the purpose of finding out who is best for the job.
Asking the right questions provides a clearer view on who a candidate is personally and professionally. Instead of asking the typical lackluster questions, try these informative ones instead:
What is your expected salary? If the candidate professes to expect more than what you can offer, they aren’t right for the gig. This also gives you a better gauge of how experienced they are.
Why are you leaving your current job? This is vital. If the reasons they cite are also present at your company, things probably won’t work out in the long run.
What is your most successful project you’ve taken from ideation to launch? This, again, gives you a better view of the applicant’s skillset and the scope of the projects they are used to managing.
What is a great (customer experience, product, service, etc.) that you recently experienced and what made it special? This uncovers how current an individual is on industry trends and where they place their values.
Your recruitment process is the key to uncovering the talented individuals that will further your company’s goals, aspirations, and bottom line. It also provides prospects with a gauge on your organization’s efficiency, creativity, and viability for them as a working professional. Construct a procedure that incorporates these three components, and you are far more likely to drawing in the talent your company needs to reach the next level of success.