Why an Effective Hiring Strategy Matters in Today's Market

December 13, 2018 Pete Newsome Pete Newsome

Hiring people is easy. Recruiting, screening, and hiring the right candidates, however, is not such a simple process. This is why it is vital to develop and implement an effective hiring strategy that can guide you or your human resources team through the employee recruitment and hiring process.

Your hiring strategy and recruitment strategy plan are essential to helping you source, qualify, and place the right candidates in the right positions. A bad hiring decision can cost your organization thousands of dollars — not to mention resulting in lost time and negative impacts to morale.

With these things in mind, our team of staffing experts at 4 Corner Resources (4CR) has put together some tips for improving your organization’s employee hiring strategies and ways to incorporate innovative recruitment methods into your processes as well to achieve better results.

Tips to Improve Your Hiring Strategy & Techniques

1. Clearly Define Every Position and Its Responsibilities

An important part of every recruitment strategy is to clearly define each position and the expectations of what it will entail. The more specific you are concerning the goals and objectives in the position description, the more targeted your applicants will be—and the more effective your talent screening efforts will be.

2. Determine the Timeframe for Hiring a Position and Stick to It

Determining the date by which a candidate needs to be onboarded helps you calculate the amount of time you have available and the resources that are necessary for recruiting, evaluating, and hiring the candidate. According to some reports, such as the 2017 Talent Acquisition Benchmarking Report from the Society for Human Resource Management (SHRM), the national average hiring process length in the U.S. is 36 days.

Once you have determined the time frame necessary to fill a position, make it part of your recruitment strategy. Hold firmly to that timeframe to ensure your hiring process stays on track and within budget. Use data from your past hiring experiences to help you determine how long it takes to bring someone onboard from start to finish.

3. Calculate the Anticipated Cost/Benefit for Each Position

According to BetterTeam.com, understanding the cost/benefit of every hire is one of the best employee recruitment strategies to use. This recruiting and hiring strategy helps you ensure that your return on investment (ROI) for employing a particular candidate is greater than the cost of hiring them. Knowing whether a specific candidate will benefit your bottom line or negatively impact it can help you justify the cost of hiring them.

4. Leverage Employee Referrals and Recommendations

Although not one of the most innovative recruitment methods, candidate referrals from your top-performing employees is a great way to recruit talent. It is one of those employee recruitment strategies that benefits everyone because:

  • You get trustworthy and reliable talent to fill your vacant positions;
  • Your employees can be rewarded with a bonus or “finder’s fee” of sorts; and
  • Their referral gets to start a position with your organization.

5. Review & Update Hiring Strategies Periodically to Reflect Changes

A high-quality hiring strategy is not something that, once created, is put on a shelf to collect dust. It is a living document that needs to be reviewed and updated periodically. After you create and implement a hiring or recruitment strategy, it is essential to go back regularly and update it based on what worked well or didn’t during the hiring process.

This approach helps you put to use the knowledge you gain from each hiring experience. It also provides a reason to ask others for input or recommendations of ways to improve your organization’s hiring strategy and to adopt more creative recruitment strategies.

Work with a Professional Staffing and Recruiting Agency

Our final pro tip is to include a professional recruiting and staffing agency or headhunter as part of the process. Partnering with an experienced and resourceful team of professionals is part of an effective hiring strategy and recruitment strategy plan. A full-service agency has access to a wealth of resources and a significant network of candidates as well as the expertise to attract, qualify, and screen the perfect talent for your business.

We hope you found these hiring strategy tips and recommendations useful. If you have questions about employee recruitment strategies and employee hiring strategies, contact the team at 4 Corner Resources today.

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