Post on 25-Dec-2015
How to Recruit and Retain Top Talent
Kate PletcherFounder/CEO, Treehouse Partnerskate@thetreehousepartners.comwww.thetreehousepartners.com
The Job Market
• A shift from a buyer’s market to a seller’s*
• Current unemployment: 5.9% (CA 6.9%)**• Management/Professional: 2.8%• Sales: 5.4%• Admin: 6.1%• Construction 7.6%
• Trends affecting future• Baby Boomers • Shortage affecting disproportionally: law enforcement,
manufacturing, transportation• Immigration and increases in productivity could balance
82% of companies fail to choose the candidate with the right talent for the job (Gallup)
The Cost of a Bad Hire
• 41% say a bad hire costs them at least $25,000
• 25% say a bad hire costs them at least $50,000
• Where are the losses felt?:• Productivity • Time devoted to recruiting• Expense related to recruiting• Employee morale• Negative effect on client delivery
Why is it So Hard?
• Expectations not in-line with job market
• Hiring managers using ineffective sources
• Employees are looking for different things
• Example: Millennials care about mission, flexibility, impact
Source of Job 2012 2011 2010 2009 2008
Agency/Recruiter 14% 13% 10% 9% 12%
Direct Approach 7% 7% 8% 8% 9%
Internet Job Board 25% 26% 24% 19% 19%Newspaper/Periodical 1% 1% 2% 6% 7%
Other 7% 8% 9% 12% 12%
Networking 46% 45% 47% 48% 41%
…And When You Find Good Talent• Multiple offers
• Due diligence• Glassdoor.com• Informational calls
• Interested in the complete package• Compensation (of course)• Benefits• Trajectory• Other perks
Missed Opportunities
• Only considering full-time employees
• Considering specific job requisites vs. team objectives
• Not utilizing Contract talent
• Not taking advantage of maternity/sick leave
• Waiting for your business to grow before hiring
• Not staying in touch with great prospective employees regularly
Change Your Recruiting Strategy
• Attracting the right candidates• Be clear of position objectives, not just job description• Make sure to accurately broadcast company culture • Use job description as a sales document to align
talents with job objectives and source the Right people
• Cast the net wide
• Close the deal• “Trial close” throughout• Get the Right person to accept/anticipate objections• Don’t nickel and dime for the Right person
Hiring Strategy: Retaining A Players!• Engagement remains shockingly low• 30% in US• 13% globally
• Why?• Bad managers• Unrealistic/unknown expectations
• Keep a pulse on what your employees are saying• Engagement surveys• Formal and informal communication channels
Get Off to the Right Start
• Give your new employee a GREAT first day
• No doubt in the decision to hire them
• Welcome from the team
• Set the stage for culture
• Thrown into the deep end (a bit)• Meaningful work• Opportunity for impact• Valuable team member
Keeping Them Engaged
• Make sure employee’s goals are in line with those of the company
• Not just about promotions • Allow for an appropriate balance between work
and life • Give your employees decision making
opportunities and the freedom to be creative
• Don’t focus on how to divide the pie, try to make it bigger!• Leads to greater productivity and less turnover
ABR – Always Be Recruiting
• Just like any other relationship• Have thoughtful conversations• Non-traditional recruiting and interviewing
methods • Court your candidates
• Not a fit right now? Who do they know?
• Maintain the relationship
• Get to know competitors and comparables
• Make sure employees are incented to recruit friends/former colleagues