With a talent shortage, crafting a strategy to solve your recruiting challenges is essential. These strategies will help you hire the best candidates for your company, no matter the industry or job market.
Recruiting for executive-level positions is difficult, especially in today’s talent-driven economy. High-level candidates hold the cards in this power dynamic, and they’re looking for more than a paycheck.
Retained Search
For roles that need to be filled with highly skilled individuals, or incredibly high-level leadership positions, retained search is a recruitment service that can help. Unlike contingent firms that work on a non-exclusive basis, where multiple recruiters may be involved, retained executive recruiters operate on a retainer fee basis and work on your search exclusively.
Retained recruiters can start conversations with hard-to-reach candidates who are not actively looking for a job but would be open to exploring a new opportunity. This approach allows you to build a pipeline of qualified applicants and engage in more meaningful interviews with prospective hires.
Finding top talent for niche or specialty roles is difficult enough without having to worry about the potential leak of information or your hiring process being publicized. In this scenario, utilizing a recruiting service that offers confidentiality can make all the difference.
Recruitment Process Outsourcing (RPO)
RPO services are a good fit when companies need to fill many positions in short order. This could be due to business expansion, reorganization, customer demand, or cost-cutting initiatives.
An RPO provider will take a deep dive into your current hiring processes and systems to gain a complete understanding of your needs and goals. They will then partner with your talent acquisition team to develop an effective strategy that includes recruitment marketing, candidate pipelining, and sourcing expertise.
Once the strategy is in place, they will assemble a long list of candidates meeting your criteria. They are also experts in dispositioning candidates thoughtfully and compassionately. They can also provide valuable market data to support your decision-making throughout your RPO engagement.
Interim Staffing
Companies must focus on enticing and attracting nontraditional candidates in today’s candidate-driven job market. These might include students, contractors, “boomerang” employees, or independent professionals looking for more flexible schedules. These workers need a strong employee value proposition to stay in the workforce.
In many cases, retaining these people is only possible with a significant investment in training, compensation, and other benefits. This is where talent solutions can be beneficial.
Total talent solutions offer access to pre-vetted interim candidates ready to fill your roles quickly and effectively. This can help you avoid the cost of a lengthy retained search and reduce your time to hire by several weeks or months. You can then focus on other critical business priorities and meet your company’s hiring goals faster.
Leadership Development
Many companies need help attracting and retaining high-level employees. In a candidate-led market, they realize that their workers have options and may go elsewhere if not offered the right employee experience. This is not a problem exclusive to the executive level; even middle and frontline employees are more focused on flexibility, autonomy, career development, and purpose.
Leadership development is commonly part of succession planning, which aims to identify and develop high-caliber leaders to take over senior positions when they become vacant. However, these programs often involve extensive departmental transfers and require significant time to produce results.
Total talent solutions offer a more strategic approach. For example, talent communities provide access to pre-vetted candidates ready to deploy and can reduce the time it takes for a company to fill a role.
Retention
Retention is the process of keeping employees who have already been hired and who are still in active employment. Retention strategies are essential because high turnover can be costly to any business, especially if staff members are replaced at full salary.
Compensation and culture play different roles in retention, and focusing on one without the other won’t help companies keep their people. For instance, a worker may want more flexibility, such as working from home or being part of a hybrid situation, but might not be willing to give up their current salary.
Talent solutions can help with this, as they offer pre-vetted candidates ready to work and act as a hiring hub, cutting down on time spent searching for new talent.
