Hiring top talent for the company can be a challenge when competitors are searching for candidates in the same, oversaturated pools. To hamper your recruiting even more, many of these candidates end up falling out halfway through the screening process.
The solution? Look around your office.
Every year, companies spend billions of dollars in an effort to fill their open reqs and to overcome the war to find good, talented employees, not recoginizing their current workforce is capable of yielding success for the team at a fraction of the hiring cost.
Here are three ways to grow the company using the tools and people you already have:
Promote from within instead of hiring the “perfect” candidate.
Want to boost employee morale? Actively train your team members to communicate the company is more interested in developing their current workforce for upward movement rather than hiring additional employees to fill those roles. Frequently discuss career goals, improve the team’s diversity, and develop entry-level talent to encourage better overall performance and to get employees excited about collectively improving the bottom line to, in tandem, bolster their individual, professional plans.
Restructure your performance review.
On a scale of 1-10, how would you rank your performance? Before answering that, consider this: Ranking employees by numbers triggers the same flight or fight response humans react with when threatened. Over time, this can lead to employees feeling frustrated, unwilling to take risks, and breeds an air of unhealthy competition. Performance reviews that categorize employees as simply good or bad can create a perceived limitation that keeps team members from growing and developing their skills.
Instead, try a mix of these two communication techniques to apply during the performance review:
- The structured conversation: Prior to meeting, provide a list of topics for employees to be prepared to discuss, including their projected career growth, contributions and collaboration with the team, and ideas for the company. This format could work better for employees who prefer a streamlined, directed communication style.
- The guided conversation: Nix the question-by-question format, and ask open-ended, general questions about employees’ goals and how they see themselves progressing toward goals. This structure could work better for employees who are more open, vocal, and candid.
Listen to feedback and openly discuss goals with your employees to promote better engagement between the management and the team.
Dig into your team’s network!
Your employee referral program, or ERP, is one of your company’s most cost-effective, time-efficient methods for making hires. Because your employees already have an idea of what the company is looking for in a candidate, applying an ERP to your team’s hiring process can improve the quality of talent coming into the funnel. With a higher number of potential hires in your pipeline, a referral program also helps decrease time-to-hire and turnover rates.
What are some managing tools or techniques your company applies to its employees? Share them with us in the comments or send a tweet to us @Entelo! If you liked what you've read, be sure to subscribe to the Entelo Blog. We have a lot more where that came from.