Great Business or Great People - Which Comes First?
How to keep current employees and find new ones in the today's job market.
Current trends in the recruitment market have been influenced by the uncertainty caused from COVID-19, BREXIT, cost of living increases, fuel prices, and more. As a result, people have been reluctant to switch jobs, thus intensifying labour shortages and creating a candidate driven job market.
This limited market has made it difficult to find the proper candidate for open positions, leading to the question: how do you recruit the right person?
Current trends in the recruitment market have been influenced by the uncertainty caused from COVID-19, BREXIT, cost of living increases, fuel prices, and more. As a result, people have been reluctant to switch jobs, thus intensifying labour shortages and creating a candidate driven job market.
This limited market has made it difficult to find the proper candidate for open positions, leading to the question: how do you recruit the right person?
Stuart Goodinson, De Lacy Executive Recruitment Managing Director and Grace Nugent, General Manager, recently gave a presentation to help businesses address these questions.
The first step is to understand why there is an open position to be filled. Is it simply because your company is growing or is there an issue with employee retention? Be critical in understanding why employees might leave, keeping in mind that salary is rarely the leading cause. Other factors such as not feeling valued, a lack of progression or challenges, and clashes with company culture can all play a role in poor retention. Remember, it is better to keep current employees satisfied instead of turning to recruitment.
A great way to retain your current employees and to attract new ones if needed, is to focus on employer branding. This is the observed culture, employee and candidate opinions, and consumer perceptions that exist about your company. A strong employer brand can reduce the cost per hire by as much as 50% and it keeps current employees motivated.
If you have the right business strategy in place but are still in need of great people, that is the time for hiring. Although it is not a simple process, there are a few tips that can help make it easier. First, look for internal hires. This is a great representation of visible growth and progression within your organisation.
Next, make sure to thoughtfully craft your job advertisement. It is important to grab the reader's attention within the first three seconds, explain what is in it for them, be clear with your language and the information the candidate needs, and stay away from cliches.
Dive deeper on how to keep your current employees and the best ways to recruit new ones by watching the video below.