We regularly attend events and meetups focused on start-up tech CEOs growing their businesses. Regardless of the theme - how to get financing or build a winning marketing strategy - the challenge of finding and hiring great talent always comes up in the conversation!
When projects can’t move forward or sales slow down because hiring isn’t happening fast enough; - this can be big trouble for executives. It’s hard for organizations of all sizes to recruit the right talent. And by now, if you’re scaling quickly, you’ve likely experienced the cost and pain of making a wrong hire.
Recruiting can be especially challenging when you are new or nobody knows you exist, you’re competing against big brands and big budgets and chances are you’ve tapped out your immediate referral networks.
The good news - recruiting awesome talent for your start-up or growing business isn’t impossible. Some may argue, ‘there’s no shortage of talent’ - you just don’t have the right strategy to go about finding the best people.
If, like most start-ups or growing business you are hoping that everyone wants to work for you because you are unique, your people make the difference, or you have a foosball table with a fully stocked bar fridge, you are mistaken. No one knows who you are in the job market, so they aren't going to walk in the door resume in hand. Posting a job and praying the best people are waiting for you - well, as they say ‘hope is not a strategy’.
There’s a famous quote from Abe Lincoln, "If I had eight hours to chop down a tree, I’d spend six hours sharpening my axe." This is the key to great recruiting.
So how are you preparing for hiring? Here are some tips to give you a competitive advantage and start building a quality talent pipeline.
1. Find out what truly makes you unique - conduct surveys and focus groups – internally and externally starting with the people who work for you, and the people who know you (advisors, consultants, family and friends). Develop an understanding of why people want to work for you and why they stay. Go beyond your product or solutions and dig deep for the true meaning. Ask yourself, how you are changing the world or the lives of your customers? And don’t assume you know what it is. Take the time to better understand your target audience and what makes you special.
Everyone is looking for top talent - your ability to articulate what makes you unique, in a creative and compelling way, beyond the solutions you build, will be a critical tool in your talent strategy.
2. Unlock your online ‘brand real estate’ – social media platforms like Indeed, LinkedIn, Glassdoor etc., have free company review pages where you can develop your company profile, add photos and employee testimonials as insights into your culture. Get a head start on developing these channels of influence. According to Glassdoor, 94% of candidates are likely to apply to a job if the employer actively manages their employer brand (e.g., responds to reviews, updates their profile, shares updates on the culture and work environment). (Glassdoor survey, October 2014)
No matter how small you are, you have a brand and a culture. Once you start promoting opportunities in your company, people will start looking for information. Savvy candidates will start looking for evidence that you and your company are as awesome as you say you are. What they find will determine their next course of action - apply or move on.
3. Write creative job ads – this takes time and several drafts, maybe even outside help. An awesome job ad could prove to be the key to getting the right, quality candidates applying. Don’t underestimate this – it can be a huge difference maker! In our experience, the quality and appeal of your job ad (not to be confused with the formal job description) impacts the quality of the candidate pipeline by up to 80%.
Jobs get ‘served up’ daily through social networks and there’s no better way to get to the passive candidate than tempting them into a conversation with a compelling vision of something better.
4. Get a recruiting technology! There is nothing worse than a tech company recruiting on email! Your process should be agile and engaging and relevant to this century. What’s often referred to as ‘inbox recruiting’ is clumsy, cumbersome, and super inefficient for both the candidate and whomever has to sift through all of the resumes.
There are many cost effective candidate management solutions on the market that pay for themselves 10X over in time and capability.
5. Rev up your ecosystem – start planting seeds with your referral ecosystem – and not just employees - consider all your ‘Friends of the Firm’ - vendors, customers, advisors, followers, University alumni, friends, local schools – whoever the best talent might be friends or acquainted with. Don’t just limit your referral bonuses to employees. There’s a good chance your next hire is a friend of someone you know and cares about your success. Start nurturing and creating value in those relationships; so when the time comes you can tap in.
Failure to plan your recruitment strategy may cost you customers, funding, revenue or worse, a rushed decision on a wrong fit hire.
Recruitment isn’t just posting a job and waiting for candidates to apply. That’s not how you land your best customers and it’s certainly not how you get the best people to share in your vision and want to work hard for you. You’ll need all cylinders activated to get your message to the right people – it takes time, a good process and strategic planning, but it’s not impossible.
Don’t get caught without a customized recruitment strategy. Like Abe and his axe (you knew I was going to come back to that!), invest in the front end of your hiring needs. At TalentMinded, we are expert axe sharpeners. We help companies scale by providing smart, effective and efficient recruitment processes and strategies that drive profitable results. If you need a better talent acquisition strategy to help your company grow or just need some good advice on technology solutions or best practices - reach out - we’re passionate about helping great companies scale!