As the economy starts to heat up, being able to find and retain top talent will provide a competitive advantage for many companies. In order to attract these top performers, companies need to implement an efficient and effective hiring process.
- Start with the end in mind:
It is important to have a clearly defined job description. Ideally, break the responsibilities of the position out as a percentage of time. For example:
Senior Accountant- 40% of the time – month-end and year-end closings (and maybe a few specifics of what that entails).
- 35% – evaluating transactions for the more complex accounts, such as inventory, sales, and cost of goods sold, and recording the related entries.
- 25% – supervising the Staff Accountant: training on responsibilities, reviewing work performed, and preparing evaluations of performance.
Be specific about the qualifications of who you want to hire. Who is the ideal candidate? What is required to perform the job responsibilities versus skills that are desired, and why are these skills required? Avoid non-value-added requirements just to fill the job description whenever possible.
- Determine the resources that you are going to use for the recruiting process:
The best candidates are usually the ones who have their head down at their place of employment, outperforming those around them. They are not responding to ads or searching the internet for their next opportunity.
You must find a way to attract them to your company:- Executive recruiting firms
- Employee referral programs
- Outreach through social media
- Prepare for the interview with the candidates that you select:
- Really understand his or her resume.
- Do some additional research on their resume to show a high level of interest.
- This will provide the candidate with a feeling of being important and valued.
- Be prepared to sell the opportunity (interviews are two-way streets—especially in the current market):
- What is special about the company?
- Why do employees like working here?
- Where is the company going in the future?
- What is the career path for the person who accepts this position?
- How will this person be developed professionally or mentored?
- When you find the right person:
- Move quickly (condense the interview process whenever possible).
- Present your best and final offer as your first offer. Do not try to lowball a strong candidate. They will often be offended by a low offer and will not want to entertain any additional offers from your company.
- Follow up with the candidate during their decision-making process to see if they have any additional questions and to let them know how much you would like to have them join your company.
- If they accept the offer, the process is far from done:
- Continue to be in contact with the candidate to make sure the onboarding process is going smoothly.
- Make the candidate feel important (offer sent in a timely manner, strong follow-up communication, quick responses to any questions they may have).
- Coach the candidate about giving notice (almost every company is extending counteroffers).
- This contact between accepting an offer and actually starting could make the difference between having the person you want and going back to the starting point of the hiring process.
- Be prepared for new hires on the first day. This first impression has a major impact (computer is ready, logins, access cards, welcome sign, etc.).
- Keep what you find:
When you land that new employee, create and maintain an environment that he or she would not want to leave. Provide great opportunities for learning and career progression. Finding top talent is difficult, so retaining those employees is critical to the success of an organization.
