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What Is the Key to Landing Top Talent? (And Do You Have It?)

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While sourcing top talent for your company sounds like an easy thing to do, it can be a daunting task for any hiring manager.

Every person a company hires plays a critical role, and a hiring manager must locate the right person who can handle multiple tasks and contribute to a prosperous company culture.

There’s no magic bullet solution to hiring top talent, but there are ways to attract and keep the types of professionals that can add significant value to your company. It’s more than just creating an attractive compensation package; although that helps. Your company needs to take a holistic approach if it wants to land highly-talented professionals for its positions.

Stay Involved in the Recruiting Process

In order to land top talent, companies also need to stay engaged in the recruiting process, with an eye toward making the process move quickly and effectively. Often, a brief note or two to keep candidates up to date during the process is sufficient to keep them interested, despite the strong possibility they have other applications out there.

Stay in Touch With Your Recruiting Team

A lot can change during the course of a hiring process and it’s important for hiring managers to maintain regular communication with recruiting personnel. This is especially important for your external agency and staffing partners, healthy two-way communication is a solid foundation for addressing everything from the talent pool drying up, to a budget increase, to a change in the skill set required for the open position. This way your team can make sure they are spending the time with candidates that are on target and saving everyone’s time. We all know that things change in the recruiting process and it is important for them to have the most up to date information so they can focus on the right candidate pool.

Connect With Talent on LinkedIn

A strong LinkedIn Presence is always important, and attracting top talent starts by being an attractive company on the social network. Ideally, you want professionals to want to work for your company based on what they see on LinkedIn, even before they are aware there’s a job opening for them.

Regularly posting compelling content, establishing groups, leading discussions and reaching out to top talent in the industry are all great ways to draw top talent to your organization.

Calculate Your Successful Hires and Cost of Mis-hires

A major key in talent recruitment is the identification of the costs associated not only with hiring new employees, but also with mis-hires – those hires that don’t end up working out.

To determine costs of all hires, a company must consider the expenses associated with advertising, searching for candidates, conducting tests, reference checking, third party testing and HR labor, as well the costs associated with time-to-fill and training.

For costs associated with mis-hires, a company should also consider salary earned by mis-hires, benefits given, work space occupied, any severance fees, customers lost and productivity decline. Companies should also consider more abstract costs like missing out on ideas a good hire would bring and the drop in morale related to having your team work with a bad hire.

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