Employee retention is not usually looked at in terms of staffing, but it can really play an integral role. Your firm could be the best ever at attracting new talent, but if you can't keep your employees, you'll be running in place. That's worse than not attracting candidates, because you're continually in a training mode. You'll have few experts in the company that you can rely on to take the lead. In fact, one tool of retention—promotions—specifically allows you to place an employee in a higher-level, and presumably more difficult to fill, position. The easier job is left to be filled with an outside candidate.
Keeping employees isn't only a matter of providing competitive pay and benefits. Employees must be challenged, receive recognition and rewards, be given an opportunity for development, and be offered flexible policies. There are some who would disagree with providing employees with anything more than a job and a paycheck. These are the companies whose candidates and employees will wind up on their competitors' payrolls.
- Finally, don't forget recording what worked and what didn't. It can be argued that the recruitment life cycle begins and ends with metrics. When evaluating current efforts, metrics should always play a critical role. Reviewing data is also important as you move through your strategy to continuously improve your efforts. Finally, at the end of the cycle, reviewing metrics can help determine what was successful and where changes may be necessary. Remember that evaluating data over time (trend data) is more effective than looking at point data. When establishing metrics consider the following:
- What data will give you a true picture of program effectiveness?
- Are you evaluating data that addresses fair hiring practices? Cost management? Shared accountability? Results?
- Are you considering placement quality?
What is your recruitment strategy?
The economic downturn may have stalled many of your plans. To paraphrase the financial guru Warren Buffet you should buy when others are selling and sell when others are buying. Smart employers are going to be looking at the opportunities created by the recession. Good or bad - one company's misfortune can be another's gain. A smart strategy for recovering would be to rethink your talent needs and possibly just as important - your hiring practices. Many companies often grow quickly, plan poorly and make mistakes when bringing in new people. We can help you modify your strategies to help establish sensible hiring policies for both the short term and long term. Look first at the task that needs to be performed. Our clients often find that our On|Demand contingent workforce is a better value than hiring employees.
Other task that are involved in your hiring process should be re-examined as well. With many companies significantly reducing HR personnel and eliminating in-house recruiters. That area may be insufficient to meet the needs of as your company recovers. While we do offer recruitment services, we also provide a host of other related RPO services that can augment or replace your internal efforts.
You've no doubt noticed how difficult it is to keep your staff level in line with growth. Although it's easier to stay on top of recruiting needs when a company is young and small, eventually a growing organization will need to develop a staffing strategy. Many businesses approaching the high-growth stage have yet to experience a significant staffing crunch. If your company is nearing that point, take the first step in formalizing a staffing strategy for the organization by dedicating manpower and resources to the hiring effort. Implementing a strategy will require our recruiting teams working in tandem with your hiring managers to create a seamless hiring process to manage the increased flow of applicants. Determining your short term needs and long term goals and bring the two into alignment is the first step. Begin by answering the following questions.
- What are the growth goals for the coming year?
- Where has attrition been and what factors may affect future attrition?
- What is important to the organization in terms of recruiting and how can it be measured?
- Have we been effective in creating an employment brand?
- Has our current infrastructure been able to support our efforts?
- How are you tracking recruiter successes? Hiring manager responsiveness?
- What types of people will we need to hire?
Next you must develop a staffing strategy that is manageable, and then sustain it so that you're able to hire the people you need to facilitate expanding company activities? You can keep the process as simple as possible by breaking it down into its three primary components: Locating Candidates, Hiring The Best, and Retention.