We’ve all been there: Immense pressure to find that special someone to fill a role. Hours of Email-inbox searching. Sifting through piles of CVs and cover letters. Frustration mounting as we try to keep our grip on our hiring pool.
In our previous instalment, we touched on Company Culture. In this instalment we take a closer look at the hiring pool and how to avoid the traps.
One of the top concerns for most CEO’s today is not having enough talent to choose from. There simply are not enough skills in the market. Do they find us? We find them; both inside the organisation and out.
This is where performance management comes in. A team member performs well because we measured his performance. It also helps us identify the skills needed for doing well in that job. This achieves three critical goals:
- We can define criteria for each job role to narrow down prospective applicants;
- We can identify profiles of passive job seekers to proactively reach out to and gauge interest;
- We can identify existing co-workers fit for the role and thus encourage retention.
Stop wasting time
The HR technology solution space grew by more than $4 billion in 2019. Traditional recruiting processes are manual and can waste time. The Society of Human Resource Management estimates this wastage at 17%. If you work Monday to Friday with an average of 40 hours per week, that is the same as having a 4-day work week. Every week. If we include technology as part of our HR strategy, imagine what we'd achieve with 50 extra days every year.
More of your colleagues are using digital solutions to remain competitive and relevant. With digital tools, we can identify and manage candidates for the right fit.
Time spent on interviews has increased by 75% in recent years. You cannot afford the delays, not in this competitive space. Predictive analytics is supporting the hiring strategy with suggestions for the right fit. The key is standardised metrics.
Standardised metrics can be set from our performance management scores. Performance matters. If we analyse the behaviours of our top-performing members, we have the foundation to attract more like them. Coupled with our strategy on company culture and job role description, we can recruit the right fit for the job.
If you haven’t already, take a hard look at the performance measurements of your existing team. It provides a solid foundation in retaining your top members, identifying growth and recruiting the right skills. It can literally set you apart from your competitors by leveraging information you already have.
In our next segment, we’ll look at the importance of skills. It is estimated that 27% of the global job market in 2022 will consist of new emerging roles. If you prefer a personal discussion about People & Talent management, reach out to our Talent experts here.