If you've had hiring as part of your job, who were your best hires?
Weren’t they the ones from your little black book or Rolodex that you were waiting for just the “right” opportunity to hire? Certainly not the ones that had already fallen from the tree! Obviously, the people we already know, or those referred to us by people we absolutely trust, are the very best. We know what to expect from them and what they will do once they get on board.
Then the time comes when you've crossed all the names off in your black book and you have to hire your first employee that is a total stranger.
So you turn to the tried and true hiring practices in use since the 1950s, and it all comes down to reviewing resumes that depict past performance written by the candidates (dare I say embellishment!). Then after a series of interviews, a candidate is judged a “success” by how well they “talk” about themselves and the job at hand. They may not be able to “do” the job that well, but a good interviewee will really be able to “talk” about it...the odds of landing a Top 20% performer using this method is, er , uh...about 20%!
So, what can you do to change the odds? The answer is go back to your roots, rebuild your Rolodex with functionally targeted people that you actually "get to know" (...not by using high cost temp to perm). How do you do that without spending every waking moment Linking, Tweeting or Facebooking to get to know these people?
Four Steps to Hiring Success – Talent Engagement
- Create and populate a talent network of people with specific talents, particularly the ones you need to hire multiple times throughout the year
- Encourage network participants to complete talent challenges and assessments to uncover their “inner chemistry.”
- Employ specially created “time sensitive” networking events to get to "know" these people better and increase their interest in you and your company.
- Create short lists of network participants that best fit your team's vibe and functional work – cultivate and hire the best.
The key to hiring in our Engagement Economy is by improving the dialog people have with companies they’re interested in. The four steps outlined above will make that a reality.
All four elements are important, and the online networking events are critical for two-way engagement with network participants. Using this approach, you'll fairly quickly be able to learn who you like the best, and begin cultivating them to join your organization. After 2-3 online events, you'll certainly get to know them way more than any resume or interview can ever provide. Of course you'll want to interview the ones you’re most interested in, but interviews will now begin at a much more advanced stage of evaluation because you'll already know the person.
In addition, your talent network participants will begin to know what you expect and whether they see themselves working with you in your business. With a network comprised of people from your industry that work at —and know— your business, you'll have a winning formula for advanced hiring success.
The interesting thing is that this will take much less time than you would invest in traditional hiring methods (much less), and there are third party companies that will introduce, develop and manage the process for you.
It seems like a no brainer...continue using a system where less successful hiring is achieved about 80% of the time using traditional methods (ads, job boards, agencies, Linked In exchanges, etc.), or a program where you can experience up to 95% hiring success using a talent network approach (based on a 10 year period of talent network hiring metrics).
Hmmm...it really does seem to be a simple choice, doesn't it?
The “Relationship Hiring” concept is not a “dream!” Reach out to Clinch and find out how you can implement a program that cuts your hiring costs in half.