The Triple Threat: immune to hiring struggles - is that you?

There are three things that a company needs to not have a hiring crisis. Try to guess. Think about it. We all know companies that candidates flock to, that attract the best of the best. What do they all have in common...?

Money. Technology. Brand.

Companies with all three of these things worry less about building their teams than companies with two, one or none of them. Here’s the catch: they don’t work until they’re combined. That’s why it’s the Triple Threat. Consider each scenario:

1. Money and Tech, no Brand.

This is typically the startup. This company may have plenty of money and truly innovative technology, but they don’t have name recognition. Candidates won’t find them without looking hard.

2. Money and Brand, no Tech.

These are often companies past their prime. People know who they are and they have an established financial foundation, but their tech is behind. Candidates want to look at new tech.

3. Tech and Brand, no Money.

The broke genius. Great name and cool technology, but they can’t afford competitive compensation, and the future is risky. It could be a worthwhile risk, or a devastating risk. Still, not every candidate is willing to gamble.

What’s funny about the Triple Threat company is that while it’s the anomaly, it's often cited as the counterexample to why a non-Triple Threat company needs to innovate their hiring process.

“Well, Facebook doesn’t do that!” or “Look at Apple! Let’s do what they do.”

This is my point. I’m sorry, but you’re not Facebook or Apple. Not yet. If you cannot claim to be a Triple Threat company, then you can’t look at these Triple Threat companies for answers to your recruitment and talent management problems. These companies have channels of resources that yours doesn’t have. That’s okay, but it means you have to play the talent management game more strategically and cater it to your strengths and weaknesses. You can't necessarily afford to cut the same corners, accept the same deadweight loss, or not address the same financial burdens.

While talent management might be your 5th or 6th pain point now, it will only exacerbate in coming years. Although treating this pain point now requires investment and training, not solving it soon will also create a tarnished legacy for your team. How? The solution to this problem is relatively simple and swift. It will put you ahead of the curve, and treating this pain will be more expensive and complicated down the line, when it’s your 2nd priority, when it’s drastically draining your resources. By then, you’ll be behind.

I challenge you to determine which of the three Triple Threat elements your company needs to work on. Then, consider that working point as a critical element of your company’s tailored talent management process overhaul. If your brand is weak, then marketing is critical to your recruitment. If your tech is out of date, time to invest there. And if you're short on money, you may have to focus on gaining investors and establishing a strong financial foundation as a means to get the talent you need.

One company way ahead of the curve in AI talent management is Celential.ai. Check them out: www.celential.ai.