Finding suitable staff can be a frustrating, time-consuming task, and picking the wrong person can result in costly consequences for your company. To make matters worse, the latest Bureau of Labor Statistics Job Openings and Labor Turnover Summary reports a record 4.4 million Americans quit their jobs in September alone. As the 'Great Resignation' trend continues, companies are growing desperate to find and hire the right people to fill their vacant positions.
Recruiting professional employees
In an ideal world, when a company puts out a job advertisement, a small number of qualified candidates apply, a few of those are invited to interview, and the best applicant is ultimately hired. Unfortunately, the reality is that hundreds of applicants apply to these jobs they aren't even qualified for, and those who are qualified are almost immediately snatched up by other companies as they enter the job market, says Forbes.
Combing through countless resumes takes untold time and resources that could be better spent improving the organization. However, finding the RIGHT candidates saves your business not only in the long run but also short term. This is especially true for Executive or high-level, C-suite positions, where poor decision-making can cripple a company for years. To avoid the lasting repercussions of a bad hire, here are a few tips to help you recruit the right managers, directors or C-level employees on the first try.
Know your company's goals
Before you even put out a job description, it's essential to have a good understanding of the goals and challenges your company faces. With clearly outlined objectives, you can create a strategy for measuring the metrics of success for each position. This serves as a foundation for identifying the key characteristics and experience of an ideal candidate and determining the value they can bring to your company.
Leverage your existing employees
Many large companies are increasingly hiring C-level positions from outside the company, but this isn't always the best solution. If your company is exceeding expectations with a dedicated workforce and thriving culture, hiring internally can have a positive impact on workplace productivity, retention and morale. Unless an external hire can demonstrably improve your business, you should consider promoting your current employees to senior positions.
Hire externally when needed
Although internal promotions are, in many cases, preferable in ideal situations, that doesn't always mean it's the best option for your business. For example, if your organization is comprised of young people, they may not have the experience necessary to move onto the next level yet. If this is the case, don't be afraid to look at external candidates who are more seasoned and capable of executive decision-making. An external candidate can also bring new ideas and out-of-the-box thinking to your company, along with a wealth of connections based on their experience. External hires are typically desired if, for example, the company or department isn't developing in the right direction.
How do you find the right external candidates?
Many ideal candidates are already busy working in their current companies and don't have the time to look at job openings or send out their resumes. For these candidates, it's best to take a proactive approach. The best way to do this is by hiring a professional search firm. Yes, this does cost some money, but can you really afford not to hire the best candidates for your company?
External search firms also have a broader reach than internal sources, simply by virtue of working across multiple industries and companies. Qualified candidates typically stay in touch with search firms to be notified when a suitable opening develops. Furthermore, search firms are paid based on successful placements, i.e., by finding the RIGHT candidates a company is looking for, rather than filing a 'REQ' or internal requisition for an opening.
If your organization is ready to hire someone for a full-time C-suite position but has trouble finding prospective hires, a professional search firm can streamline this process. At YES Partners, we help companies find the RIGHT candidates to fill vital roles like CEOs and VPs. To see some of the positions we have successfully placed, click here.
So quit complaining about not finding the right candidates for your company — there are folks out there who can help!
Finding people is easy, but finding the RIGHT people is not. YES Partners helps companies FIND the right people for all company functions, across many industries.