Change The Way We Hire?: A Proven Modern-Day Method to Attract and Retain Top Performers

Jesse faced?significant challenges in recruiting, hiring, and retaining top performers for his company. This led to considerable financial strain, diminished cash flow, and stress for Jesse and the team, negatively impacting customer experiences and retention. Jesse assessed how best to effectively refine the company's recruiting and hiring process to attract better, hire, inspire, and retain the best talent that fits his organization's vision, mission, culture, and goals. Jesse called on HR Anew, a company with a 94% retention rate for talent referred and hired by their clients. This white paper shares insights into what Jesse discovered.

Executive Summary

Your challenges are far from isolated; many organizations need help with these issues, especially due to rising turnover rates since the pandemic. The cost of a bad hire can be staggering, encompassing not just the tangible expenses of recruitment and training but also the intangible costs associated with ?management time, decreased morale, productivity, and customer satisfaction.?

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According to the U.S. Department of Labor, the total cost of hiring the wrong person for a job can reach up to 30% of the individual's first-year earnings. This figure is reported to be even higher in specialized sectors where the impact of a mismatched hire is more pronounced. Some human resources research firms estimate the cost to range from $240,000 to $850,000 per hire, considering the financial value a top producer team member delivers.

This white paper presents a new way to hire the best people for your company. Instead of sticking to old methods where everyone competes for the same talents, I offer a six-step method from more than thirty years of recruiting expertise to support you in hiring smarter and more effectively. By following this plan, businesses can find great team members without the usual struggle, helping them grow and succeed in today's job market.

Introduction

More than ever, candidates seek opportunities and careers with organizations that have a vision and mission they can believe in, something larger than themselves. This alignment between personal values and organizational goals is pivotal in attracting top-tier talent.

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In this white paper, I discuss a better way to find, hire, and retain the right people for your organization. Hiring can be challenging, especially when everyone seems to be chasing after the same few talents. I will show you a different path with six clear and detailed steps. This is daunting, you say. However, would you prefer to invest more time in finding the best candidates and retaining a high-performing team or experience constant turnover and the associated costs, lost opportunities, and an exhausted team? My method is about something other than competing harder. It is about hiring smarter. By the end of this white paper, you will have new tools and ideas to help your business stand out while attracting and retaining the people who will help your organization grow.

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Industry Analysis

The recruiting landscape in 2023 presents a mix of challenges and shifts in priorities for talent acquisition professionals. According to research, more than half of recruiters still find their jobs more stressful to identify quality candidates than in previous years, highlighting the ongoing pressures in talent acquisition amidst a volatile labor market characterized by low unemployment and talent scarcity for specific roles (SHRM).

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Additionally, the focus is increasingly on skills-based hiring and retention and addressing candidate priorities such as flexibility and career development. This shift comes as the economy cools, prompting employers to reconsider their hiring strategies, especially in sectors experiencing skills shortages (SHRM).

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Recruiters are also grappling with the need to secure qualified candidates quickly, the challenge of selecting the best candidates, nurturing candidate pipelines, and differentiating rewards and benefits to attract top talent. The competition for quality talent is intensifying, making it essential for employers to maintain a strong employer brand and explore beyond traditional resumes to uncover potential candidates (Breezy HR).

Despite these constraints, the demand to hire quality candidates remains high, underscoring the competitive nature of the talent market.

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Transform to Modern-Day Recruiting?

Hiring the wrong person can cost your business a lot, not just money but also team spirit, productivity, innovation, and customer happiness. Many employers seek to shift from competing for talent in saturated markets to exploring new and modern-day ways of attracting and retaining team members. This involves pivoting to a modern-day recruiting strategy to discover untapped talent pools and create a more compelling employer brand, making the competition for talent essentially irrelevant.

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Instead of battling it out in the same old spots, let me show you how to find new, clear paths to find people who share your company's dreams and offer them something extraordinary.

The AHIRED Method? (Six Steps to Smarter Modern-Day Hiring)

If you are tired of the talent hunt roller coaster, The AHIRED Method? is your solution. This comprehensive method covers the mission-critical aspects of modern-day talent acquisition and management.

Case Study: Transforming Talent Retention at a Healthcare Technology Company

Background: One of our healthcare clients, a leading player in the healthcare technology sector, faced significant challenges in retaining skilled professionals, with a turnover rate of 35% annually. This high turnover affected team cohesion and project continuity and led to increased recruitment costs ?as well as a dip in overall productivity.

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Challenge: The primary challenge for our client was to not only attract top talent but also to retain these professionals in a highly competitive market. The company sought to enhance its employer branding, improve the hiring process, and foster an onboarding and work environment that promoted long-term team member engagement and satisfaction.

Solution with The AHIRED Method?:

1. Attract: Our client revamped its employer branding by clearly articulating the company's vision for innovation in healthcare on its website and social media platforms. It ensured job descriptions were current, accurate, inclusive, and highlighted the company's commitment to diversity and professional growth.
2. Hire: The company adopted competency-based interviewing techniques, focusing on candidates' problem-solving abilities and alignment with company values. The candidate’s experience was enhanced by streamlining the application process and providing timely feedback.
3. Inspire: Our client initiated regular town hall meetings where the leadership shared company achievements and upcoming projects, linking individual contributions to the company's broader goals. Team member achievements were recognized through monthly' Innovation Spotlights.'
4. Retain: The company introduced a comprehensive wellness program that included mental health support, flexible working hours, and opportunities for remote work. It conducted annual salary reviews to ensure compensation remained competitive.
5. Empower: Team members were given autonomy in project selection and encouraged to lead cross-functional teams, fostering a sense of ownership and accountability. Our client also invested in a platform for team members to pitch innovative ideas directly to the leadership team.
6. Develop: A mentorship program was established to pair junior team members with senior leaders. The company also offered subsidies for professional development courses and certifications relevant to healthcare technology.

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Outcomes:

• Within the first year of implementing The AHIRED Method? our client saw a 40% reduction in team member turnover.
• Team member satisfaction scores, as measured through bi-annual pulse surveys, improved by 30%.
• The time-to-fill open positions decreased by 25%, indicating an improvement in the employer brand's appeal.

?A Deep Dive Into The AHIRED Method?

To access the full version of this white paper and receive downloadable infographics that guide you through The AHIRED Method? specific steps, visit our Elevate Shop at https://hranew.com/elevateshop/ .

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Conclusion and Call to Action

The Path Forward with The AHIRED Method?

The AHIRED Method? is more than a hiring strategy; it is a blueprint for building a thriving, cohesive, and resilient workforce aligned with your company's vision and values. By adopting this method, you're not just filling positions; you're investing in your team's long-term success and well-being and, by extension, your business.

We invite you to take the first step towards transforming your talent acquisition and management approach. Embrace The AHIRED Method? and witness the profound impact it can have on your organization's culture, productivity, and overall success.

About HR and DEI Expert Deborah Stallings

As the founder and leader of HR Anew, a seven-figure, nationally certified minority woman-owned small business (WOSB), Deborah is dedicated to transforming workplaces into inclusive environments where every business, leader, and team member thrives.

With over two decades of expertise in recruitment and hiring, diversity, equity, inclusion, human resources management, workplace training, and equal employment opportunity, Deborah's mission is to embed these essential principles into organizations to drive success and create workspaces where leaders and teams flourish. Her work ranges from serving as a keynote speaker and expert in HR, DEI, Recruitment, and EEO to small business CEOs and government officials to developing and facilitating impactful workshops and programs that foster genuine connections, teamwork, and high-performance teams.

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A notable example of her impact is her collaboration with multiple national small businesses where Deborah and her team support clients in their quest to attract, hire, inspire, retain, empower, and develop top-tier talent. Similarly, her contributions to organizations like the Women Presidents Organization and Women Elevating Women have empowered women leaders to leverage her expertise to achieve greater success.

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Deborah's accolades include the prestigious George Mason University HR Leadership and the U.S. Small Business Administration Women in Business Champion of the Year awards, recognizing her significant contributions to HR and diverse businesses. With a master's degree in management and leadership, a bachelor's degree in business administration from Notre Dame of Maryland University, and SHRM Senior Certified Professional (SCP) credentials, Deborah's expertise is reinforced.

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As a Forbes Magazine HR Council writer and aspiring author, Deborah continues influencing the future of inclusive workplaces. Her message is clear: "Together, we dream of and create workplaces where every employer succeeds and their teams thrive."

About HR Anew

HR Anew has been a pioneering human resource advisory firm in business for more than 25 years, providing strategic expertise and specializing in innovative hiring practices and team member engagement strategies. As a WBENC-certified woman-owned small business (WOSB) with over two decades of experience and a record of accomplishment of success, we are dedicated to helping organizations like yours achieve excellence in talent management.

Expertise and Contact Information

Elevate your hiring strategy to new heights with The AHIRED Method?, expertly crafted by HR expert, Deborah Stallings at HR Anew. This method isn't just about filling positions—it is about revolutionizing the way you attract, engage, and retain top talent, ensuring they align and fit with your company's culture and goals. Experience immediate improvements in team cohesion and operational efficiency directly contributing to your bottom line.

Ready to transform your recruitment process and see tangible results?

Contact us today at [email protected] to schedule a priority exploration discussion, or reach out via our website at https://hranew.com/contact/ .

Take action now to reshape your workforce and drive business success.

Join the ranks of forward-thinking leaders who choose HR Anew for innovative and strategic hiring, fractional or outsourced human resource management, training, and DEI solutions to achieve sustained growth.

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