Talent Acquisition Strategies: Hiring for the Future
While business hiring processes have changed over the last few decades, the pace of that change has hardly kept up with the technological developments available to us. Twenty years ago, hiring as an employer was arguably a less deliberate process than it is today. There were fewer bodies to fill jobs before the Internet, and now employers get 100s of resumes in response to a single job post. We explore modern talent acquisition strategies for businesses hiring for the future.
We took an analog process and tried to force it into a digital footprint. Job boards are essentially the classified section of the newspaper, just in digital format. We don’t think anyone would argue that receiving hundreds of resumes for each job post made hiring easier. Isn’t technology supposed to make business hiring faster and better? Let’s delve deeper at the landscape and at progressive talent acquisition strategies.
Times, they are a changing
If we are honest, being an employer doesn’t mean the same thing as it did even 5 years ago. The gig economy ushered into place by companies like Uber have completely flipped the job market on its head. Jobs are different, work is different, the tools people use to get work are different, and job seekers’ attitudes about work is different. Only two things have stayed the same. The idea that someone gets paid a set dollar amount in exchange for their time to do something for someone else and, of course, taxes.
So, how will you approach being an employer in the coming decade? What are the talent acquisition strategies you need to adopt?
Pick appropriate solutions, service providers and consultants
As your business grows, the people looking for a piece of that business grows. Be selective about the software solutions you choose, the motives of their business, and the expertise of the service providers. We are in a market that is super-saturated with business solutions. You can be selective because there are so many choices. Take a reasonable amount of time to do your research and choose a solution that aligns with your business goals, not the one that has the best sales pitch.
People practices at the right stage of the business
Too often I see small businesses trying to pay for big business solutions. This is a huge mistake. Large and jumbo employers can afford to take on these enormous costs and labor commitments because they have the cash and the resources to spare. There is a reason why business-to-business solutions use the terms small, medium, large and jumbo size employers. They know who their appropriate market is, and it is not a one-size-fits-all HR world.
If you’re the business owner, CEO, board member or advisor of business, match your solutions to your growing business. If you’re a small business, use business solutions designed with your needs in mind. As you grow, expect to spend a bit more and devote more talent resources to them. Recognize as your business grows, your needs will change. When it comes to human capital, knowing when to apply new solutions as you grow is critical.
Don’t be afraid – be informed
An employer has a responsibility to learn about their duties if they want to hire successfully. The DOL determines if you are an employer based on “economic reality”. Why does this matter? Taxes and liability. Hiring opens your business up to legal responsibilities and tax implications. So, when you decide to hire, inform yourself of your options. Make sure you know the difference between employees and contractors and which you need to use in your business.
Hire strategically & embrace new talent acquisition strategies
When you hire others, be clear about what you expect and the value exchange you provide to each other. Work with your hiring managers to define exactly what they need. A good rule of thumb for business hiring is don’t over-hire and don’t over commit. Give yourself and your new hires a honeymoon phase so you can both determine if the role is a good fit.
Keeping the working world moving is a partnership and when it gets too complex we are here to help small and mid-size businesses navigate it.