People + Process = Performance

It’s been an interesting year to say the least. Record low unemployment, a recession-like economy, and AI is preparing to run for the presidency. Okay, that last one might be a stretch for 2024 but at its current trajectory, watch out for 2028. We can chat about that later.

For recruiting, 2023 has been a year like no other. Faced with fewer applicants, less but harder to fill openings, and shrinking budgets, many recruiting and talent acquisition leaders are looking for ways to boost recruiter performance. This week we will discuss the two most common approaches to boosting recruiter performance, giving you the ability to accomplish more with your available resources.

Performance Incentives

Money is a motivating factor that has always delivered results. Incentivising your team to hit key performance metrics through difficult yet attainable goals has tremendous upside. To increase participation, you can layer in department and team goals & incentives or even gamify it with weekly rankings and prizes. Whether structured as short-term, long-term, or a mix of each, performance incentives need to be attainable and if not continually refreshed, will wane over time. It is important to note that without additional training or resources, the peak performance of any incentive program is limited by the skills and abilities of its participants.

Increased Performance Through Investment

If, like me, you view performance as the sum of people and processes, now may be the time to make a strategic investment in your people and processes. This approach may not have immediate ROI, but when implemented correctly it increases baseline performance, making it easier to maintain over time. Let’s look at the two parts of this investment.

People Investment

Let’s start with the basic understanding that having competitive compensation is not investing in your people. Think of people investments as the tangibles and intangibles that show genuine care about your employees ability to succeed in their role. When employers invest in their people, they work harder, accomplish more, make better decisions, live healthier lives, and are more inclined to stay at your organization. The range of investment is only limited by budget and imagination. They can be transactional experiences, or more long-term employer value investments. Here are a just few simple examples:

• Personalized career pathing based on realistic expectations, milestones, and rewards.
• Training & education opportunities aligned to each individual's career path.
• Structured volunteer opportunities that challenge and stimulate personal and professional growth, and team/self reflection.?
• Regularly budgeted time for the exclusive purpose of leaders to listen to the interests, concerns, and ideas of the individuals who report to them.?
• Find unique ways to express the company mission, vision, and values to or with your employees.
• Create a work environment that not only inspires but encourages a high level of performance and productivity.
• Establish and respect reasonable boundaries and expectations for work life balance.

There are endless ways companies can invest in their employees. Whether going big or starting small, the investment should be uniquely tailored to your company culture and be properly aligned with its mission, vision, and values.While there are many ways you can invest, make certain that the investment is one easily recognizable by your workforce, or the return will be diluted.

Process Investment

Have you ever been given a complex task to complete and not also been provided the instructions, tools, and other resources to complete it? For a recruiter, there is nothing more frustrating than to be given aggressive goals and KPI’s, without the tools, technology, and processes to accomplish those tasks. To have an exceptionally performing team, each of these need to be well thought out and configured to work together seamlessly. Here are a few things to consider:

• Is their full CRM functionality available to your recruiters and sourcers?
• Does your apply path account for active (full applications) and passive (lead forms) candidates?
• Are you fully tracking your candidates from lead to hire and removing any obstacles that are preventing qualified candidates from being hired?
• Are all of your processes, dispositions, and workflows properly mapped out for your team?
• Does your tech stack work well together or does it require manual processes to fill in gaps or make connections?

This list could go on for quite some length, but I think you get the concept.? You need to have the resources to win the race and a team that is prepared to come in first place.

As always please remember to like, comment, share, and subscribe to The Monday Minute . Have a great week in recruiting and retention!