A wise man once said: “a company is only as great as its employees”. You might be the greatest leader ever, or your company might have the best invention known to man, but if your employees are not up to the task, then you stand a higher risk of failing.
Finding and selecting employees isn’t as simple as it used to be. Before the internet happened, all you had to do was to post an ad in a newspaper or magazine, or even hire a vacancy sign on your front door and wait for the applications to churn in. Finding the right person for the job used to be simply sorting through applications, finding candidates that best matched your requirements for interview.
But the digital age changed all that. You now have multiple channels to watch. While many of the tools available now such as job ad sites, social networks and message boards have empowered job seekers, they have made the task of keeping an eye out for recruits more tedious.
Your business isn’t only competing for customers against other businesses either. You’re also competing against other firms in acquiring talent. Even in the midst of a scarcity of jobs, there is also a scarcity of good talent. For example, web developers may be a dime a dozen, but there are only a few of them who know their trade at heart and know how to build and apply a proper responsive website.
The demand for top talent has made corporate employment more transient than ever. The churn rates have been increasing over the past years as employees seek the best opportunities available to them. It’s not rare to hear news of even top-level executives in Silicon Valley hop from firm to firm for instance, and the same holds true for mid-tier to low level employees.
Today’s digital world has opened new opportunities for job seekers. Where in the past, the main road to employment they had was to answer a job ad, now they can advertise themselves openly in the internet, and recruiters are playing an even bigger role in finding them. Today’s recruiter will be adept with the effective use of these digital tools, websites, social networks and communities in finding the right person for the job.
Recruiters and job seekers are starting to share a special relationship. In fact, a survey found that professionals are starting to view their relationship with recruiters as the third most important; behind only those relationships they share with their doctors and dentists. They deem recruiters to be more important than their accountants or lawyers. This relationship allows recruiters to build better loyalty resulting to better employee retention. As a business owner, you’d know the costs involved with training an employee for your business, and the potential cost a loss of an employee actually entails.
Today, recruiters are known for their ability to source out candidates due to their expansive networks, provide an accurate assessment of a candidate’s strengths and weaknesses and see market trends and viabilities of job vacancies. A good recruiter will be able to find you employees that have the skillsets you need and the personality to fit your company’s culture. Employees that fit well into the company’s culture are able to work better and more efficiently because they will be more motivated. This in turn also translates to better loyalty and retention.
Finally, it all boils down to cost. While getting a recruiter would be an additional cost to your business up-front, the benefits of finding a new qualified and loyal employee will pay-off in the years to come. Finding new employees because the last one you hired did not live up to his or her promise or because the last one just did not fit in and moved on to greener pastures can lead to financial losses. That’s money you could have used for other company investments to improve your overall competitiveness.
Good recruiters and recruitment practices benefits businesses of all sizes, from start-ups to large established corporations. They help find the best employees at the least cost that are not only great workers but also great potential leaders, leaders that may prove vital to a company’s future growth.
Remember, your company’s talent pool is directly tied to your potential to gain profit. Better people under your wing will equate to better performance resulting to better profits. There’s no going around that.