Rolebot’s Top 3 & 3: Executing Talent Acquisition Strategy Focused on the Big 3
May 26, 2021
When entertaining new job opportunities, there are 3 primary factors candidates are focused on. Everything else is gravy.
Team, Growth, and Compensation
When honing in on these three areas (in no particular order), it’s not only about what makes a candidate motivated, it’s equally important for employers to pay particular attention in how we develop and execute Talent Acquisition strategies to embrace these areas as opportunities in our approach to recruitment, branding, and culture.
The employment ecosystem has become a lot more fluid since the last major recession over 10 years ago. The days of remaining at one company are long gone, but even the remnants of staying put at any one company over 2–3 years is now becoming an anomaly. Knowing that retention is becoming increasingly harder to sustain, it’s imperative to continuously bring innovation to the company’s TA strategy to stay competitive in the hiring landscape.
It’s important to keep in mind that employees are going to move on, the question is when?
The more value we bring to our employees in these three areas, the higher probability we have of increasing ROI for the business, strengthening retention across all teams, and increasing the length of time someone chooses to stay on board.
1. Team — Dynamic
Avoid excluding the team from the interview process and hiring decisions. People take jobs because of positive interactions with people. The interview process is a 2-way street.
i. Emphasizing the team culture, highlight the team dynamic, encourage leadership to be more involved in interviewing and hiring cadence.
ii. Interview process speaks volumes about how the team operates day-to-day.
2. Growth — Upward Mobility
Avoid type-casting an employee into one area, or one role. It’s better to encourage upward mobility than hold, someone, back. You have a better chance of retaining employees when fostering their growth. If you hold someone back, they will leave and go somewhere else.
i. Creating avenues for employees to continuously learn
ii. Provide a healthy stream of skill/leadership training, mentorship, and coaching opportunities from internal/external stakeholders.
iii. Create and communicate succession plans and paths for upward mobility across all teams and within the company.
iv. Go out of your way to make it visible and foster growth in all ways.
3. Compensation — Total
Avoid telling someone what they’re worth, or that they’re not worth what they are asking for prior to fully vetting someone and comparing their ask to other candidates in the interview process. In doing so, you will ruin any chance of compelling someone to join the company. There are too many employment options to run a sloppy recruitment process.
i. Avoid locking in comps from various compensation platforms just because. Instead, leverage that info as a benchmark in coming up with ideal comps. Most comp ranges purchased for b2b consumption are not realistic, and the reason being, there are so many x-factors involved it’s simply out of context.
i. Taking a pulse from candidates who are currently in the interview process.
ii. Inquiring about what they are targeting and expecting in a new role. This is usually the most accurate and realistic approach in determining a baseline total comp range including benefits, PTO, equity/bonus, etc. There are a myriad of factors that affect comps including skill/experience level, ROI, geography, interview performance, and career progression.
The biggest takeaway from our fast-changing landscape is this–
Stop trying to prevent the loss and embrace the stay!