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Working with the right people can make or break your business.
You need to find the people who will help your company grow. You need to build out the company structure so that it has the right seats for those people to fill. And you need to orchestrate the timing so that you’re hiring who you need, when you need them. Right people, right seats, right time.
Most small and medium size businesses have a reactive approach to hiring. They wait until there’s a need in the company (often long overdue) for a certain function; only then do they start thinking about job descriptions, interview processes, and organizational structure.
Finding talent takes time and effort: resources that are already scarce in a small business.
For most entrepreneurs, the biggest roadblock to effective hiring is a lack of planning.
What’s a talent pipeline and why do you need it?
When you think about hiring, what usually comes to mind is executive-level searches. And it’s true that you need to develop a strategy for building your own personal “Dream Team” to elevate your company.
At the same time, you can’t forget about the people who are on the front lines of your company, delivering the service, making and selling the product, and helping customers. A growing company needs a steady pipeline of these “bench” candidates to fill entry-level to middle-management roles.
If you want your company to adapt or scale up rapidly, it’s crucial to have a talent pipeline available when you need it. Ready access to talent allows you to quickly fill a position with the best person for the job—instead of the first person who saw your job posting, checks a few boxes, and happens to be available.
These hires don’t have to be one-in-a-million unicorns, but they should be great candidates who would be an asset to your team. If your team isn’t chosen carefully, you’ll experience high turnover, a drop in quality, and toxic culture. You’ll also waste time and money training people who ultimately aren’t right for the job.
How do you build a talent pipeline?
First, identify what roles your organization might need in the next 6-12 months. Looking that far ahead makes you proactive instead of reactive. There’s a whole methodology around what company structure needs to look like; contact us to chat with one of our consultants and learn more.
Then, you need to build a clear job description that will attract the right candidates, both to the position and to your organization. You want people who fit your company’s core values, desire to do the work you’re putting in front of them, and can deliver results, like hitting their targets on the weekly scorecard.
Next, you need a pool of candidates you can easily connect to and vet when a job opening becomes available. The DIY approach is to hang out on job boards and LinkedIn, looking at profiles and resumes of potential candidates. The legwork of recruiting—evaluating resumes, scheduling appointments, interviewing candidates—takes time. For easily-distracted entrepreneurs who don’t have the bandwidth for sifting through hundreds of resumes, this approach is NOT a great use of yours.
Once you’ve been able to identify great candidates, you have to successfully hire them. That requires an inviting hiring process anchored by a good compensation and benefits offer at the end of it. Top-quality talent is discerning; you’re selling yourself almost as much as the candidate is.
Sound like a headache? It doesn’t have to be.
When to Consider Outsourced Recruiting
Bringing in consistent talent requires strategic thinking and, when needed, quick execution. If you’re like most business owners, you’re already juggling an overcrowded schedule. It’s also likely that at your current size, you don’t have a recruiting function built into your company quite yet.
If you’re not ready to sift through hundreds of resumes yourself, an outsourced recruiter might be the right option for you. In addition to helping you fill open positions, a good recruiter can coach you on role descriptions, salary considerations, competitive benefits, and more. A great recruiter can provide an immediate boost to your hiring power and make you more likely to land the best candidates in your talent pool.
Could outsourced recruiting help you build a better team? Connect with us to set up a free consultation.