The COVID-19 pandemic has created unprecedented global trauma. The economic fallout will be painful for many. When we emerge from this unfolding tragedy, it will be the long-term thinkers who not only survive but thrive.
What do CEO’s worry most about? According to The Economist, four-fifths of CEOs worry about talent shortages — up from 50 percent in 2012. Because of COVID, the pool of available talent is rapidly expanding. Forward thinking leaders, strategically planning for post-crisis recovery and growth, see the current environment as a talent acquisition opportunity.
Management guru Jim Collins has shown us that making the leap from good to great starts with getting the right people in the right seats. So, how do you find the right people? I often hear from clients that they simply do not have time to scan, filter, review, and interview the myriad of candidates, considering approximately 15 million people are currently unemployed.
If you are struggling to hire the right people, consider these tips:
1. Utilize an Applicant Tracking System.
An applicant tracking system will deliver visibility and increase efficiency by allowing you to see all your candidates in one place, electronically. Additional benefits include: a paperless solution, rapid filtering and establishing a talent database.
2. Review and Clearly Define Job Postings.
Make sure your job postings are clear on expectations and experience required for the role to eliminate unqualified applicants. If you’re overwhelmed with unqualified applicants, revisit your job postings, and consider putting in qualifying questions to help quickly filter out candidates.
3. Examine Where You Post.
Review where you are currently posting your jobs and expand your approach to utilize various job boards to reach more applicants. If applicant flow is low, it’s time to try some new job sites.
4. Conduct Video Interviews.
This will expedite the hiring process and allow you to maintain the necessary physical distancing to help keep your workplace safe.
5. Develop In-house Talent.
Take time to carefully review your existing key players. Stay closer to them now more than ever, assess their skills and knowledge in relation to your industry sector and company. Help them achieve their full potential with targeted development including the right type of training and stretch assignments.
While the COVID-19 pandemic impacts and reshapes companies, industries, national economies, and our society in previously unthinkable ways, business leaders need to think beyond survival to the opportunities this crisis might create. Among these is a chance to hire talented people at a time when they might have trouble finding or keeping jobs elsewhere.
Revisiting and analyzing your hiring approach and strategy is an important step forward. Ultimately, it will help you put the right people in the right seats, reduce time to hire and reduce your cost per hire as well.
Payroll Network’s and GovConPay's HR Advisors can partner with your company if you need help with recruiting, hiring and talent development. Contact us at firstname.lastname@example.org and good luck with your hiring endeavors.