Persistence Pays Off

Recruitment can get a bad rep, but it also has many redeeming qualities that keep someone there. You work with so many exciting organizations to find amazing talent and would also be helping people to find jobs — so why would you ever get a bad rep, since you’re doing an amazing work!  You will have many memorable stories involving people who have been struggling with their job search, or companies that desperately need someone quickly. That’s where you guys come in.

Of course, there is always room for improvement

How can you ensure that you get the right candidates answering you? You need to be persistent. You need to push back. But there’s a fine line between being tough in defense of what’s right and being too harsh, which is something you’d struggle with constantly. Finding the line between helpful and pushy is the key to success; you need to know when to push candidates to take risks and when to back down. In order to do this, you need to truly know your candidates — and your clients.

You will sometime find it difficult to be persistent with people and will find a way to get over that feeling, but still question, how many times are you allowed to reach out to someone? Some ways that you could overcome these concerns are by doing extensive research on each person’s background to ensure you’re bringing something valuable to the table. You should also realize that in those 10 + calls a day from different recruiters, you have done the best job finding something relevant and appealing to them. You have taken the time to research their backgrounds, interests, and projects they have done. In the end, they appreciate your call (even if they are not looking!) and that’s how you build a relationship. While it’s not an easy job, it is rewarding. As said, why would you ever get a bad rep, you’re doing amazing work!

So how many times IS too many to follow up? If you can connect with someone, being persistent is easy. You consistently follow up with people 4–5 times, in an effort to make that connection. Persistence, not pushy. There is a fine, but very important, line between the two.

Being in recruitment, being persistent, following up, and pushing back is a vital part of being a good salesperson — as long as you’re doing it in the right way.

5 Talent Metrics You Should Really Care About

Every HR leader wants some talent metrics in place. But how about in real practice?

According to research, 75% of HR leaders acknowledge metrics are important to the success of their organizations. But 51% have no formal talent metrics plan in place. Nearly 40% say they don’t have the resources to conduct sound metrics.

The truth is that there’s a striking gap between the large number of companies that recognize the importance of metrics and talent analytics and the smaller number that actually have the means and expertise to put them to use and are actually getting a lot of useful information out of their data. But data is just information captured by recruiting system or software already in place. It doesn’t tell any story. Compare data against goals or thresholds and it turns into insight. These metrics or KPIs reflect critical factors for success and help a company measure its progress towards strategic goals.

But the question we hear frequently is “We do have metrics in place. But why does it fail?”

  • The first cause is that the metrics that recruiting team use are mostly tactical or operational and executives outside of recruiting have little interest in seeing these operational results.
  • Secondly, current recruiting metrics tells you “what happened last year,” which again has little value for executives who want to know what’s going to happen next year.
  • Thirdly, after the recruiting metrics are calculated, they are reported and read by people who pays little attention to them.

Make sure your metrics are actionable, so when it indicate a problem, they should be accompanied by an action plan on how the data will be used to actually increase the business impacts of recruiting.

Here is a list of 5 metrics that can help you evaluate the success and understand the faults and weaknesses of your recruitment program so that you can correct them. Keeping tabs on these metrics will ensure you are informed as to how your business is doing on the talent management front and when the metrics are headed in the wrong direction, there needs to be an action plan with someone assigned to make sure that the data is applied in order to actually improve recruiting results.

1. Qualified Candidates per Hire

The Number of Candidates who Make it Past the First Stage of your Hiring Process

This relatively simple number tells you how many of the candidates you sourced, or who applied for your job has the skills and experience required to warrant an early conversation. Qualified candidates are similar to ‘qualified lead’ in sales and shows your interview funnel is filling up with relevant job applicants. This KPI gives you a spot check on the health of your sourcing strategies, as well as the effectiveness of your employer brand.

2. Time per Hire

Measured from sourced/applied to the acceptance of the offer by the candidate

The Time per Hire metric is about tracking the speed with which a suitable candidate moves through your hiring process once he/she has already been sourced or have applied. If you’re trying to gain insight into the recruiting team’s process and throughput or efficiency, Time per Hire does this best. You can also average this out across all roles and get a sense of the true average speed of your interview process.

3. Cost per Hire

Cost Per Hire = External Costs + Internal Costs / Total Number of Hires

Cost per Hire is consistently ranked as one of the top most helpful HR metrics. It helps you to link your recruitment endeavors to cost savings from an organization point of view and it also helps to ensure these efforts are not only feasible for the business, but on par with your industry and location. Apart from external and internal costs one should also consider the time spent throughout the hiring process of potential employees.

4. Internal vs External Hire

Internal vs External Hire is an important metric to monitor. If the majority of your hiring is external, you might not be attending to the potential of your existing personnel. Organizations should have a leadership and development program that encourages existing employees to learn and grow within the company.

5. High Performer Turnover

Total High Performer Turnover = Total High Performer Terminations/Avg. High Performer Headcount

Most everyone is familiar with overall turnover rate, and there is a lot of information on the web and in various sources and research about the impact of turnover. The real key, in good times or bad, is how many high-performing employees are leaving the company. According to one belief, high performers are more likely to stay at an organization, given that there is a clear line drawn from performance to rewards. On the other hand, high performers are more likely to leave when they feel under-rewarded or when there are greater external opportunities. Not only does turnover of high performers lead to costs due to lost productivity, recruiting, and training, but also to losses of overall organizational knowledge and leadership.

Nurturing Your Super Stars

Nurturing your top performers is critical to the long term success of your business. Don’t believe it? Take a look at these statistics.

  • Top performers produce as much as 10 times more than the average worker, while they often require less than two times the pay (Sullivan, 2012)
  • Top performers produce up to 12 times more than the average employee (Corporate Executive Board)
  • The top performer differential is 2.5 to 10 times that of an average employee (Sullivan, 2008)
  • The more top performers you have, the greater the organization’s productivity!

Managers give all of their attention to the weak players – those who need to improve. They draw us in again and again, receiving the regular feedback. But, what about top performers? You may feel that by leaving them alone, you’re paying them the greatest compliment. This is exactly the opposite of what we should be doing and what they are expecting. It’s a fact that organization’s top talent can have the easiest time finding other employment.

So, make a fresh commitment to give them the time, the feedback, and the opportunity to grow in your organization and  nurture them to contribute to the overall growth of your organization.

“The more you know about your employees, the better coach and leader you can be.”

There are many ways to help you understand your employees, motivate them for long-term satisfaction, and to help them overcome weaknesses and making them even better at their jobs.

  • Identify your “A” Players

In an organization, “A” players or “top talent” are typically those with the best performance ratings. Defining top talent should go beyond this single measure. Characteristics and behaviours may also help you to identify these talent among your employees. Some common examples include:

  • Positive energy/attitude
  • Entrepreneurial spirit
  • Innovation or creativity
  • Commitment to your startup’s culture and mission
  • Effective communication skills
  • Integrity
  • Teamwork
  • Customer focus and empathy
  • Leadership
  • Potential for growth
  • Job expertise and skills
  • Analytical skills
  • Commitment to deliver
  • A strong work ethic
  • Decision-making skills

Once you have identified the key characteristics or behaviours, measure your employees against these expectations and get a 360° feedback from the managers.

  • Focus on Motivational Dynamics

Once you’ve identified your organization’s top talent, it’s important to focus on the motivational dynamics. Motivational dynamics have changed dramatically to reflect new work requirements and changed worker expectations.

One of the biggest changes has been the rise in importance of psychic, or intrinsic rewards, and the decline of material or extrinsic rewards. Extrinsic rewards—usually financial—are the tangible rewards given employees by managers, such as pay raises, bonuses, and benefits. They are called “extrinsic” because they are external to the work itself and other people control their size and whether or not they are granted. In contrast, intrinsic rewards are psychological rewards that employees get from doing meaningful work and performing it well. Because intrinsic rewards are intangible, they usually arise from within the person who is doing the activity or behavior. Some examples of intrinsic reward includes:

  • Provide meaningful work
  • Allow workers to make choices through a high level of autonomy
  • Provide opportunities for employees to show their competence in areas of expertise
  • Facilitate professional development so that employees can expand on their level of knowledge
  • Offer frequent opportunities for employees to reward themselves
  • Allow employees the opportunity to connect with those with whom they serve to obtain valuable feedback
  • Give them a path to monitor their progress with milestones along the way

Before you can take action to nurture your top talent, you need to take time to get to know them as individuals and discover what motivates and engages them. Once you know this, it can be fairly easy to address their needs.

  • Provide Continuous Development

Just like all other employees, your top talent need opportunities for development and career growth. If companies are truly serious about retaining, and developing high-quality talent, they need to view themselves as growth platforms where people can develop themselves faster than they could elsewhere. It’s also important to nurture an individual’s development in areas where they are less strong, in order to allow them to make greater use of their strengths. Growth opportunities should occur on the job where employees can learn from coworkers and associates. This on-the-job model of learning can enable people to continually acquire relevant skills and tacit knowledge in their domain.

  • Make them Feel Truly Valued

Employee recognition isn’t rocket science. One of your most important responsibilities of the management is to make your employees feel truly valued, letting them know that without them, your company, your department—and frankly, you—would be worse off.

To effectively convey this, think about how you approach everyday conversations with your employees. When you assign a new task, for example, go beyond the basic and reiterate why you truly value their work. While it’s important for top performers to know they are valued by their organizations, they also need to know that their contributions are underpinned by many other people. Acknowledging the value and contributions of all employees helps your “A” team understand their place on the team and helps all employees endeavour for better performance.