Recruitment + Referrals + Retention
If you want to attract top talent, and keep those high performers on your team (as I assume every employer does), it’s important to create a virtuous cycle. You’ll find it in cultures driven by passion, where employees are treated with respect, and candidates are treated like employees. There’s a continuous loop of positive reinforcement.
It sounds simple enough. So, when companies miss the mark, where do they go wrong? I think many organizations approach recruiting as an isolated objective. But the most effective talent strategies are built on three components that work together to complete the loop:
Today the employee experience starts long before the first day at work. With the growth of Glassdoor and other “talent marketplace” sites, anyone can comment about you as a prospective employer, even if they never receive or accept an offer. Your reputation is critical in attracting top talent, so it’s essential to treat candidates with the same level of attention and respect that you extend to employees.
Unhappy, disengaged employees typically don’t refer friends to their employers. On the other hand, smart employees won’t refer weak candidates to an employer they like. That psychology naturally favors referral programs for organizations devoted to employee success. With the right structure and nurturing, a referral program can help develop a vibrant culture, where people are committed to working toward a common purpose. You can empower your workforce to select for cultural fit, while dramatically reducing recruiting costs, and decreasing the time needed to help new employees achieve peak performance.
Check out the SlideShare presentation below for more insights about the power of referrals.
When building your recruiting strategy, don’t neglect your organization’s current workforce realities. For example, is your employee turnover rate unacceptably high? If your company faces a retention problem, accelerating recruitment is like shoveling water out of a sinking boat. It’s smarter to focus on plugging the hole. If you address the problems that cause employees to leave, you’ll not only have fewer positions to fill, but you’ll also attract top performers more easily. Savvy candidates quickly sense a toxic or chaotic culture. On the other hand, passion and engagement are contagious, and will draw qualified candidates to your door.
Integrated Approach = Business Benefits
In HR, we know better than anyone that the quality and commitment of people on your team are the foundation of business success. If your talent strategy considers what happens before, during and after every hire, you’ll create a sustainable framework for top performance.
For more talent acquisition and retention advice, listen now to Achievers’ recent “24×7 Recruiting” webinar, featuring TalentCulture founder Meghan M. Biro.
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