Friday, July 13, 2018 by Bailey
Studies have found businesses that excel in talent management and recruitment achieve earnings of 15-20% higher than their peers. Recruitment can have a direct and very positive impact on revenue creation and profitability.
Here are some factors that are value-adding to the recruitment and performance process:
- Measure if new hires meet expected performance levels and change recruiting and evaluation processes as needed; this requires evaluation of soft and hard skills as well as onboarding process and commitment of both company and recruit.
- Identify best sources for hiring at various levels; engage those sources to be current with business evolution (i.e. promotions, new products/services, awards, expansion), best practices, culture, and other insight that supports reasons why talent would be attracted
- Measure time to fill a position; validate internal vs. external supply chain challenges to expedite hiring process
- Analyze characteristics of new employees that resign in first 100 days to best understand opportunities to improve recruitment and onboarding process.
- Proactively review characteristics, behavior, and work history of talent that has added value to leverage future recruitment and evaluation processes.
- Identify opportunities to reward performance; this can be pay-for-performance, special awards, promotions, recognition announcements, or time off. Top performers need to be acknowledged and recognized.
As a business partner, Bohan & Bradstreet proactively supports the recruitment of talent for our client companies through alignment of talent needs with candidate capabilities and expectations.