Attracting Top Talent
Attracting top talent to your business requires that you not only understand what your business needs, but also what the people you hire are looking for in a position. In a previous blog we spoke about the cost of hiring wrong. Getting it wrong can cost you up to £50,000 once you add up all the hiring costs and loss of revenue. This is huge, and it often happens when business owners don’t look at both sides of the coin. They consider only what they are looking for and sometimes overlook what the business really needs and what the candidates really want.
There are two sayings that I like to apply to this situation. The first is: “You can’t attract something unless you really know what it is.” And the second is: “You can’t sell something unless you know why someone needs it.”
Humans typically have two emotional drivers – pleasure and pain. They either move towards something because they want it, or they move away from something because they perceive it’ll cause pain. If you know what these specific drivers are then you are far more likely to attract the right type of person for your business. Consider what their values might be, what their expectations and career ambitions are and look at how you might be able to fulfil these in your business.
Scaling a recruitment business
In my experience, few business owners know how to successfully scale and grow their recruitment business. To me I think that they need to consider looking outside of the recruitment industry in order to learn how to successfully scale up. What other industry brings in people with little or no experience, puts them at a desk with minimal training and expects them to perform? Yet in recruitment this is often the case.
Consider bringing in a search consultant from another industry, but pairing them up with an experienced recruiter who can really show them the ropes, teach them how to manage their time and processes and guide them through what is expected of them in their new role. This has two distinct benefits for the business. Firstly it enables you to leverage the expertise you already have in the business, and it helps you to grow the new consultant at a pace that they can cope with. Instead of simply being thrown in at the deep end, they are given the support they need in order to become successful. This in turn gives them encouragement and helps build up their confidence so that they stay and help grow the business.
The importance of specific career paths
Does your recruitment business offer an opportunity for people to grow into more senior roles? This is something you need to be aware of because it is a question that will be at the forefront of their thinking when anyone applies for a position at your company. If you provide mentoring and coaching, and your business scaling includes expanding to accommodate more senior consultants then you will be able to attract and retain top quality recruiters. People want to know that there are opportunities for growth and learning and are attracted to businesses that provide this. Certainly money plays a role, but increasingly people are looking for career development prospects when applying for a job.
Making the match for your business becomes easier when you have a better understanding of who your business needs as well as what they want out of a job. When you take the time to define and understand the push and pull factors involved, you can attract the right people who can help you to successfully scale your business.