Achieve Greater Financial Performance Through Better Hiring Practices

Let me offer four ideas that I think you’ll find to be of value. All will drive better financial performance, can be implemented with little effort on your part, and without a lot of investment.

1. Make it easy for candidates to apply for work with your company. Insert a banner (or at a minimum, some sort of link) on your homepage announcing that you are hiring. Or add an “About Us” tab at the top of your site, which should have a drop down for careers. By doing so, you’ll increase your applicant flow.

2. Make sure you’re not sending candidates elsewhere. Some of you may be using third-party recruitment sites as a way to collect resumes and may not be aware that some sites are sending the candidates you are hoping to hire, emails with dozens of other job choices. Many of these offers are more attractive than yours.

Don’t believe me? Just ask one of my CEO clients, who followed my advice and applied for a job with his own company. Much to his surprise, he started receiving some incredible job opportunities for similar roles that were far better than his. Had he not done this, he would never have known. Don’t let this happen to you.

Apply for a job with your own company and see where the trail ends.

3. Create a big splash with your employee referral program. Employee bonus programs are a great way to pull in talent, but most programs are best kept secrets. Consider doubling employee referral bonuses, for a limited period of time. Offer quarterly contests to keep the program top of mind (e.g., every time an employee makes a referral, their name gets entered into a drawing for a prize such as a gift certificate to one of the finest restaurants in town...one that now delivers). If resources are too tight to do this, offer an extra vacation day, that can be taken during non-peak times.

4. Put your hiring process on a diet. Cut out all the excess fat (e.g., three people having to interview each candidate, a bunch of approvals required before offer is extended, etc.) and give hiring managers the ability to extend offers within 24 hours of interviewing the ideal candidate.

This week’s challenge: Apply for a job with your own company and email me at [email protected] to let me know how it goes. In return, I’ll send you a free copy of my e-book, Selecting for Success: The Complete Guide to Hiring Talent. My guess is you’ll be quite surprised by the experience!

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