How to Create an Effective Hiring Strategy

An effective hiring strategy is essential in finding the right person for the role. Find out how to create and implement an effective hiring strategy to hire top performers more often.

Why Is an Effective Hiring Strategy Important?

If you’re looking for a formula that can help you find the right candidate 100% of the time, you may be disappointed. Because it doesn’t exist. But Mint Kulca has, with expertise and experience, developed a method that can help you hire the right person for the role up to 90% of the time.

1. Cost Per Hires

According to the U.S Department of Labour, a bad hire can cost your company up to 30% of that hire’s earnings in their first year. A good recruiting strategy can help you identify suitable candidates, and an effective recruitment strategy can help you identify the ideal candidate for the role. It’s about more than qualifications and aptitude, and unconscious biases can often creep into the process, leading to unsatisfactory results.

2. Employee Morale

Bad hires who underperform in their role can often affect the morale of the rest of the team. A bad hire costs, not only in money, but in momentum, too. This is why employee recruitment strategies need to be thought out beforehand and implemented consistently. With a good hiring strategy, only quality candidates who suit the role best will be considered.

3. Candidate Experience

When you identify the best potential employees, it is possible that they could say no after all your recruitment efforts. This costs resources and time that could have been spent on other prospective employees. An effective hiring strategy makes candidate experience a key component in the process, making it more likely that they will accept your offer.

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5 Steps to a More Effective Hiring Process

For business owners to create a successful company, they need top performing employees to help them reach their business goals. To achieve this, an effective hiring strategy is pivotal. A strong recruiting team and predetermined recruitment goals can strengthen the effectiveness of your hiring process.

Some of the vital components in an effective hiring process include an accurate job description, asking the right questions, and creating a positive candidate experience. Here are 5 steps you can take to create a more effective hiring process that will deliver the results you need.

1. Clarify What Top Performance in the Role Looks Like

Do you know what you are looking for in a candidate beyond their qualifications? Before you can determine what skills and traits qualified candidates should have, it is important to figure out how their suitability will be measured.

You can talk to the future manager and other key stakeholders about the key roles and responsibilities of the candidate. It is important to ask them the right questions and that they are honest and upfront about what the role requires.

We’re experts at helping you define what success looks like for the role. We can help you find a match best suited to the role who is also a good culture fit for your workplace culture.

2. Use an Accurate and Effective Job Description

An accurate job description is the next step, and it is vital for a successful recruiting effort. Make the advertising costs worthwhile, with clear job descriptions that give prospective candidates all the information they need to decide whether to apply. This means you should include more than the desired skills for the position.

It is important to include hard skills, soft skills, key responsibilities, and to explain what makes your company unique. To make it more accurate, you can speak to a person who has previously fulfilled the role, if possible. You can also take a look at how similar positions are being advertised to inform your ad.

Your job description is a strong marketing tool, and it should help create a talent pool from which you will fish the best person for the job. It’s important to create an inclusive application process that people with disabilities or limitations can access and take part in. This will help ensure your talent pipeline isn’t too narrow, so to speak.

3. Find the Brightest Talent at the Right Candidate Sources

Where to find the potential candidates most suited to the role? You can employ social recruiting using Facebook Adverts, post it on your company’s website, on career pages, LinkedIn, and external job boards. Or you can employ a recruiting process through an agency or make use of employee referral programs. There are so many avenues to consider, and each will have varying efficacy depending on the role.

Your hiring strategy should consider the costs of advertising, whether digital or traditional. You can also create a candidate persona that includes passive candidates or active candidates. According to LinkedIn, up to 90% of employed persons are open to considering a new position.

If you want to pursue passive candidates, LinkedIn could be a strong channel to consider. Passive job seekers can also be pursued through connecting at conferences or networking events. Current staff, business associates, and other stakeholders may also be able to recommend someone for the position.

4. Plan Interviews and Interview Questions

The interview process is where potential candidates are assessed for the role by asking common questions that give you a better picture of their suitability for the role. Unfortunately, many human resource managers and hiring teams allow biases and ineffective interview practices to lead them astray. For example, an effective hiring strategy should include predetermined questions that are asked in the same way to each candidate. The answers should be documented and hiring managers should remain consistent in how they apply your predetermined interview process. The basic questions you ask should be targeted, allowing a clear picture to form about suitability for the role and assessing whether the candidate meets your business requirements. In person interviews need not be your only method; instead, you can include a video interview in your recruitment plan to make the process more accessible and inclusive.

As part of an effective recruitment process, your interview entails much more than just a few questions. Allow our experts to guide you through the creation and implementation of a more effective hiring strategy today.

5. Closing the Deal 

Once you’ve found the most suitable talented candidate, it’s better to present your offer fast. This can help you avoid losing them to other offers or losing them because you have taken too long to respond. And then the real work begins. Any effective strategy must continually be assessed for efficacy. You can gather data on your process and the results to inform your future strategy. Metrics you can track can include things like how long it took to make a quality hire, where the hire came from, how many candidates you had to interview, and how effective each step in the process was. Your onboarding process can also play an important role in settling the new employee into their position and into the culture of your organisation. You can determine the process ahead of time to help things run more smoothly.

You can hire top performers 90% of the time with Mint Kulca. Improve the quality of hire for your vacant positions with Mint Kulca’s help, and you will discover how rewarding top performers can be for your company.

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