During the pandemic, the global average of people changing jobs was 25% higher in 2021 than in 2019. Talent migrates to companies that attract better, so you’ve got to be one hell of a magnet.
Methods to identify and acquire talent are constantly changing due to
- Evolution of social media
- A desire for diversity and global talent, and
- The need to build an employer brand
Hence, your company needs to apply efficient ways to acquire good talent. Here are 8 methods you can add to your talent acquisition strategy:
1.Create internal mobility
Internal mobility (moving employees towards new careers and roles) helps employees explore different roles. This also includes internal promotion which
- Portrays the scope for growth within the organization
- Offers training, development, and upskilling to employees
- Improves employee loyalty by 71% and retention by 81%
When to apply: To urgently hire senior or crucial positions with a higher vacancy cost.
2.Reach out to passive candidates
The hire of your dreams might be working with another organization. The best thing to do is ask as they could be a passive hire (hold a job but might be searching for better opportunities).
Ensure you
- Research their current perks and benefits to negotiate better
- Personally reach out to them if it’s for a senior position
- Listen and understand their needs, goals, and expectations
When to apply: Since this method takes time due to networking and negotiating, it’s best used when hiring for senior and executive-level positions.
3.Referral programs
Introduce an attractive referral program that benefits the employees.
88% of professionals said employee referrals are their top source of acquiring qualified candidates, and 45% of referred employees stay for more than four years.
Referral benefits go beyond monetary ones. Distillery, a software development company, offers its employees new gadgets whenever they refer an employee (wow!)
When to apply: When you need to hire mid-level employees and have time to recruit.
4.Create an internship program
Around 35% of the US workforce are millennials, and their job turnover costs $30.5 billion to the US economy.
Organizing an esteemed internship program checks whether they’re a good fit or have identified potential.
A well-designed internship program can:
- Market your business among students
- Offer different perspectives
- Instill a leadership culture among employees when they manage interns
Under Armour, Lumen, and Shopify are known for their robust internship programs.
When to apply: Usually for entry-level positions and when there are multiple vacancies.
5.Reach out to previous candidates
Your database acts as a safety net, so using efficient software to track potential candidates saves time and costs.
When to apply: When you need to fill a mid-level or junior-level position quickly.
6.Leverage social media
Candidates are now choosing quality over quantity. Social media posts with detailed and precise job descriptions and creative videos stand out the most.
Remember to
- Design the job post according to the role
- Create a job post according to the social media channel
- Keep building a valuable brand online
Use video ads to convey your brand values, work culture, and values.
This agency introduction video ad by Whello makes you want to be a part of the organization.
When to apply: When you need to hire urgently. It works irrespective of the position.
7.Host networking events
Networking always helps, whether you’re a job seeker or a founder. Attend and host networking events to find a pool of suitable candidates. Such events subtly create a brand identity for a vast audience.
JobsForHer with Nike hosted a virtual event as part of their Diversity, Equity, and Inclusion strategy for full-stack developers, software engineers, etc. Nike’s leaders spoke about women in the workforce and encouraged them to build their careers.
When to apply: When you have a team and finances, this works well. Identifying leads is an ongoing process and can take time to acquire.
8.Reach out to talent incubators
Today, diversity and inclusion can change how people look at a brand. According to a Deloitte survey,80% of professionals reported that inclusion efforts play an essential role while seeking a job.
Acquiring diverse talent can be time-consuming. A better way to reach underrepresented groups is to get in touch with institutions that support them.
Some of these are Black Girls Code, Change Catalyst, National Organization on Disability, and many more.
Diversity is a transformative step as
- Such teams make 87% better decisions
- Companies with women board directors turned capital into profits 66% more successfully than others
- Diverse businesses deliver 35% better results than non-diverse businesses
When to apply: While hiring for mid-level and entry-level positions and when you have the time to recruit
These methods help recruit better talent when chosen with thoughtful assessment and evaluation.
4 things to remember before you define your methods
1. Consider cost, urgency, and position factors before applying the method.
There is no standard format for every method. It depends on your financial resources, urgency, and the position you want to fill.
2. Don’t be afraid to go a step further
IKEA Australia hid job descriptions inside every furniture pack for customers to find and apply for it. It resulted in 280 new hires and didn’t cost them anything.
When you find a way to secure exceptional leads, get creative and design your method to apply it.
3. Choose a method to get the desired candidate, not just fill a position.
Hiring only when there is a need isn’t always wise. While choosing a method, select a platform that can give you quality leads. Set goals to find a “good fit” and not just a “fit.”
4. Be mindful of the trends you follow.
When recruiters posted job leads with an image of the Johnny Depp vs. Amber Heard trial, it received severe backlash online. Select trends wisely and those that align with your values.
Next Steps
It’s essential to check in with your brand and your employees as to which methods
- Align with your brand image
- Add value to employer brand
- Acquire great talent
Now, start brainstorming and evaluating methods to create a fantastic talent pipeline.
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