Effective hiring plans are essential for a successful business. Bringing the right team members on from day one leads to increased employee satisfaction, decreased turnover, better reputation and higher revenue. When it comes down to the basics, your team is everything and holds the power to make or break your KPIs.
To get it right — starting right now — we’ve pulled together tips to make your hiring plans work to help you save time and stress and increase positive results.
Find a Process and Stick to It
One of the best ways to ensure efficiency and manage time is through a workflow. Clearly defined processes lead to better and more consistent results. It’s a fact that’s been tested countless times and is simply common sense.
Take this idea and work it into your hiring plans to achieve better results. The ultimate goals with any new hire are productivity and tenure. You spend time and resources to train these employees and you want them to perform and stick around. Plus, when you think about how the average hiring mistake costs a company $1.5 million or more a year and countless wasted hours, errors just won’t do.
One of the best processes we’ve found is from “Who: The A Method for Hiring,” written by Geoff Smart and Randy Street. This straightforward book outlines how to hire “A player employees” for critical job positions. According to the feedback, businesses that follow the A Method tend to report a 90% success rate.
Out of the six takeaways from the book, the most critical in our opinion in the Scorecards process. This process is a formal way of quantifying a success metric for the position you are trying to fill and helps you clearly articulate the qualities of an ideal candidate.
Key takeaways from the Scorecard process include:
- Define how this position will be successful. Make sure that your metrics align with your KPIs.
- Articulate desired outcomes and core competencies for the position.
- Determine how and when you’ll measure success.
Take these steps to prepare for onboarding before executing your hiring plans. In order for consistency and success, you must vet each candidate against the same criteria. You can explore more advice in the book and take advantage of the free tools and guides the Who team offers to go along with the concepts.
Encourage Employee Referrals
When your current A players refer their friends and business connections to come work for your organization, you win. Referrals are a cheaper, faster and a more effective way to hire than the traditional recruiting methods you may be used to.
Studies show that employees hired on through an employee referral are an overall better hire. They are typically more productive and can contribute to lower turnover rate at your company because they’re more loyal.
Develop a referral program that actually encourages team members to reach out to their network and advertise open positions. Whether it’s gift cards, PTO or swag, find out what matters most to your team and what will drive them to share the news about new job openings. This is also a great way to boost your company culture. Overall, referrals are a win-win.
Determine What’s Currently Working
Be sure to understand the patterns your current high performers follow. Start collecting data on your team members in order to discover the types of employees you’re looking to hire and what makes them successful. It’s much easier to pin this information down for future hires when you have actual information to base it on.
Collect information in the following areas:
- How did the candidate find the job?
- What stood out in their resume and/or cover letter?
- What is their past experience and education level?
- Did they specifically say they’re looking to grow?
- What is the best contribution they’ve made or continue to make to the team?
These questions should be a guide to understanding what makes up an all-star team member for your organization. By clearly identifying the best factors within your current employees, you’ll be better positioned hire A players, more efficiently.
Start Your Hiring Plans With an Accurate Job Description
You can’t find the right talent, or at least you’re making it much more difficult if you don’t advertise your openings with a thought out description. Put plenty of detail into the job descriptions to attract the best person for the opening.
This is a process that shouldn’t be rushed. Reflect with your team on the skill sets, personality attributes and relevant experience that would differentiate one applicant from another. This sounds like a basic task but many companies fail to make this a priority when searching for new candidates. Take the steps to craft a thorough job description to save time overall and attract better talent.
Analytics Can Drive Your Hiring Plans
If you’re not gathering quantifiable data, start today. Recruiting is typically focused on cost to hire and retention rate, which is fine but there are so many more data points to track in order to reach unmatched success. Use an HRIS program like BambooHR, Namely and of course multi-billion dollar player Workday to turn your company’s big data into viable information.
If you don’t have the resources to invest in a robust platform today, that’s fine. You can start gathering basic data points to gather insights that can guide your hiring plans for the near future. Basic information you should start recording ASAP includes:
- Source of hire
- New-hire turnover rate
- Candidate satisfaction
- Time to fill
- Manager satisfaction rate
Use this information to compare and contrast your candidates to measure the success of your onboarding process based on cost, retention and time. In combination with our other four tips, you’ll be able to save time and money while you reach your KPIs through high-quality talent.
If you have any further questions about hiring plans or how to find the best candidates in the competitive Colorado market, feel free to contact us. We are happy to help!