You are standing in a sweet spot. You have all that you wanted. Sales are coming in, revenue is quite great, you feel you achieved your goals, however, there is a little problem. Your company CAN NOT DELIVER everything.
As you want to deliver orders and fulfill requests of your customers all other activities are left behind, papers are piling up on your desks, e-mails are left unopened and phone calls unanswered.
Since everything is happening all at once, you start to feel overwhelmed, stressed, and tired. You work long hours in order to reach all deadlines but the cycle seems never-ending. The moment you think you sorted everything out and that you will finally have some time to relax and energize, a new working cycle begins.
Such situations are very problematic on a long run as they can slowly start affecting your health and well-being. They start affecting your family life, your social circle, your business.
Do you recognize yourself in this description? If you do, then this is definitely the time when you need to stop. It is time to find a new help.
I am pretty sure you are thinking: “I do not have time to stop and to hire a new person. Things are just too crazy this week.” Or you may be complaining: “I do not know what exactly to search for. Where to look for? How can I prepare everything?”
Do you recognize yourself in this description?
Don’t allow your business to suffer just because you were not willing to dedicate your time to find help. By not taking action and solving your problem, issues will eventually explode. And when that happens, it might be already too late.
Why is hiring a talent a must for the success of your business?
Hiring a new employee is a critical step to further develop a business and as an entrepreneur, you do not have time or money to lose on a bad hire. Therefore, it is crucial to use your time effectively and hire the best new talent at your first job-recruiting shot.
Costs related to finding, hiring and integrating new employee into your company can be very high. Average cost per hire for a company is 4.129 USD as per report of SHRM Human Capital Benchmarking Report 2016. One Research even estimates that a new hire can cost between 25k USD-50k used.
Your magic formula to find the best talent for your company
Here are seven steps that will enable you to get crystal clear about your needs and how to find the best talent for your business.
- Assess your current and future needs. This is a very important step. Do you need help for a specific project or are you looking for a long-term solution? Do you really need a new employee/an intern or can tasks be outsourced? There are many online portals and professional services that are specialized in particular activities. Do you want a new person to work the same office or are you willing to cooperate remotely? Scrutinize your own working preferences well in order to find a solution and system that will fit you best.
- Clearly define job role (duties and responsibilities person will have) and develop an exact job description. Take time for this step. Poorly written job posting can have quite a negative impact as you will attract people that you do not need. Don’t forget to add what company can do for a new employee. People want to develop their talents and work in the stimulative environment. Use the power of your company mission to differentiate and attract talent. Humor can also be a driving force to get good talent, depending on the type of work you are searching for.
- Clearly define key competencies of the new person. What skills, experiences, and education do they need that will help your company to grow. Are you willing to hire a person without knowledge and model it on your own way or you need a professional with the strong background?
- Define personal characteristics of the new person. What work ethic should they have and what personal traits (flexible, motivated, self-initiative).
- Consider personal values that new person should have that are related to values of your own company. If you have not yet set values of your own company, then this is a perfect time to make such step.
- Test candidate. Depending on your work needs create a short test candidate has to pass, or give them an actual situation to solve.
- Use the power of trial period. The trial can last from 4 weeks to 3 months. Within that period include your employee on all levels of your organization, introduce them to your team members, if you have them, allow other team members to get to know them and evaluate their performance. Using trial period is very useful as you will be able to notice how a person behaves in a specific situation, if they contribute to the success of the company, get along with other team members, and are enthusiastic about projects they are involved with. Having a trial period reduces possibilities for negative surprises about his/her skills and behavior in the future.
Talent replies to job offer where they feel the sparkle, where they feel they can contribute and be respected. What is the reputation of your company? By offering a potential new employee the best possible working environment and encouraging fantastic business culture you can rest assured that your perfect candidate is already waiting for you.
Where to search for candidates?
Depending on the industry you are in you will choose different options to advertise your job posting.
Use the power of internal hiring or referrals. Studies confirm that internal hiring is 6 times more effective than any other type of hiring whereas referrals are 5 times more effective than other types of hiring. Such employees are also more likely to stay in your company for a longer period of time.
You can find talent also by posting a job offer on LinkedIn, using social media or using professional recruitment services.
Did you like the article? Which advice did you like the most?