Believe it or not, nearly half of new hires fail within the first 18 months of starting a job.
Not only is it prohibitively expensive to replace employees, your company will not be able to reach its full potential if you’re constantly dealing with vacant positions.
The good news is that your hiring strategy is not cast in stone. By changing your approach to recruiting, you can increase the chances you make the right hiring decisions — which in turn will make your company stronger and enhance your bottom line.
Do it the right way and you’ll end up with employees that actually love their jobs.
With that in mind, here are five tactics today’s top recruiters use to land candidates with the most talent potential. Let their tricks inspire your hiring strategy.
01. Treat prospective candidates like you treat your customers
The most successful companies put their employees first. The reasoning is quite simple: When you put your employees first, they’ll be happy. In turn, they’ll deliver exemplary service to your customers, making them happy too.
While you won’t hire every candidate that walks into your office, you will hire some of them. That being the case, your company will benefit from treating every candidate as nicely as you possibly can. Remember, some of those candidates will soon become employees.
Do everything you can to make a prospective candidate’s interviewing process as enjoyable as possible. That way, you increase the chances you hire candidates with the highest talent potential.
02. Don’t be afraid to reach a little bit deeper into the company purse
According to our research, nearly 25% of workers would leave their current jobs for a 10% raise somewhere else.
While every smart company tries to reduce its expenses as much as it can, it doesn’t make a whole lot of sense to nickel and dime when it comes to salaries — especially considering how expensive it is to hire employees and replace them when they leave.
Offer competitive compensation packages from the outset to attract top talent.
03. Incentivize colleagues to refer talented candidates
Every company’s greatest asset is their employees.
In addition to knowing your business inside and out, employees also know a number of talented individuals. To increase the chances that those folks end up working for your company one day, implement an employee referral program that incentives members of your team to convince their peers to work for your organization.
When done correctly, you can hire candidates with the highest talent potential without having to endure an extensive search.
04. Write better job descriptions that are modern
Do you ask prospective employees to tell you what their college GPA was? Stop. There are plenty of incredibly successful people who never graduated from college (e.g., Steve Jobs and Richard Branson).
If you’ve been using the same language in your job descriptions for a while and haven’t had the best luck attracting top talent, it’s time to modernize your posts. Use exciting language and ask relevant questions.
05. Don’t let bad employees keep their jobs forever
Candidates with high talent potential are the best at what they do — and they know that. These individuals love to improve — which is why they seek to surround themselves with other skilled workers.
Firing anyone is never easy. Unfortunately, some companies try so hard to avoid making these difficult decisions that they let toxic employees keep their jobs forever. Thanks to sites like Glassdoor, job seekers can find this information out quickly. If prospective candidates find out that your company lets terrible workers stick around, chances are they will look for employment somewhere else.
Work hard to staff your company with the best people possible. Top talent will flock to you.
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