How to Recruit and Retain Top Talent

Kate PletcherFounder/CEO, Treehouse Partnerskate@thetreehousepartners.comwww.thetreehousepartners.com

CA Unemployment

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

Questions/Key Takeaways

Kate Pletcher Founder & CEO, Treehouse Partnerskate@thetreehousepartners.com