Getting Ahead In Business!
Get ahead in business – just do exactly what your competitors do!
The secret to getting ahead in business is surely to just copy what your competition does. The competitive edge surely, lies in copying their strategies, right? No, it doesn’t you say, oh and by the way I’m a Plonker?
Interesting you say that.
The vast majority of renowned business leaders (e.g Jim Collins) talk about unlocking business potential through hiring the best talent. Get the right people on the bus and all that. Smash your competition by outwitting them and out-thinking them with your recruitment strategy; and by doing so hiring the best possible talent available. Best talent = improved profits. To paraphrase Business NZ CEO Phil O’Reilly’s recent NZ Herald Article “a sustained shortage of top-tier talent is jeopardising chances of long-term prosperity. Business Leaders really need to up their game when thinking about attracting and retaining talent”.
And here’s you, copying your competitors by placing another advertisement on a Web Job board, putting your feet up, collecting some CV’s, doing some interviews, and hiring the best of a bad bunch.
And I’m the Plonker?
As I see it this reliance on reactive job boards raises a question. What would you do if they didn’t exist? How would you look to engage with talent?
I just spent a fun couple of days interviewing candidates for opportunities with one of my clients who are expanding their team. Across two roles I met with seven highly desirable candidates I had shortlisted. Here’s an over view for you.
*Six of those seven candidates had come from a proactive approach on my part, one from a job page.
*Out of the six candidates all of them were open to discussing a new role or were thinking about making a move in the next three to six months. They were passive talent looking for a competitive employer. Here’s the really interesting part – only two of those candidates were active on the internet looking for a job, and only one of them was actively responding to advertising. What this says to me is that advertising will only reach a small percentage of valuable talent. Imagine the effect on your bottom line of only ever talking to a small percentage of your clients. Go on, walk into a sales meeting and declare “from now on we will only engage with two in seven of our potential clients” Craziness. And yet, you’re ok with doing this when it comes to recruitment?
*Three of those candidates had spoken to recruitment companies since the beginning of the year
*One of those candidates registered online with a company specific HR team and had met with them
*Four of those candidates expected that their next role would come from an introduction from a business colleague, recruiter or industry word of mouth.
Read that last point again.
This indicates to me that there exists right now, a significant switch in thinking in the market for talent. Candidates expect you to come to them. They expect that in this global talent shortage they are no longer to be viewed as an infinite commodity pool, endlessly scanning the internet and pressing send in the hope of some return communication. And in turn this challenges traditional business thinking around recruitment so significantly that it’s not a matter of if your methods will change, it’s a matter of when.
In view of what your competitors are up to – now’s probably a good time.
If you think you're ready to change your strategy, please get in touch with me.