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10 tips to get the talent you need
- 1. 10 tips to get the talent you need.
- 2. T +61 3 9698 8788 chorus-executive.com.au Suite 2, Level 4 517 Flinders Lane, Melbourne 3000 Have a clear business vision that you can communicate to potential employees • 71% of employees do not believe their managers know how their job relates to company goals. • 63% of employees do not understand the vision or purpose of the business they work for. Source: American Workforce Survey, Root Incorporated, 2013 Survey of 23,000 employees conducted by Harris Interactive 1.
- 3. T +61 3 9698 8788 chorus-executive.com.au Suite 2, Level 4 517 Flinders Lane, Melbourne 3000 • Be clear about how this role will contribute to the goals of the business. • Ensure that there is alignment between management and all stakeholders • If all the stakeholders are not aligned on what is important, the new employee is doomed for failure. Have a clear understanding of what is required in this role.2.
- 4. T +61 3 9698 8788 chorus-executive.com.au Suite 2, Level 4 517 Flinders Lane, Melbourne 3000 Customise your recruitment process to fit the needs of the business. 3. • One size does not fit all. • Review your recruitment process to suit the specifics of the role and organisation. • Ensure all communication speaks the language of the talent you want to attract.
- 5. T +61 3 9698 8788 chorus-executive.com.au Suite 2, Level 4 517 Flinders Lane, Melbourne 3000 Explore all avenues and do not compromise by hiring the best person of the moment rather than the best person. Hire slow and fire fast. 4.
- 6. T +61 3 9698 8788 chorus-executive.com.au Suite 2, Level 4 517 Flinders Lane, Melbourne 3000 • Conduct research to understand the key drivers to top talent in your industry and sector. • Understand what your competitors are offering their best talent. Understand and consider what top talent is looking for.5.
- 7. T +61 3 9698 8788 chorus-executive.com.au Suite 2, Level 4 517 Flinders Lane, Melbourne 3000 • For the best talent to join you there has to be a win-win for both parties. • Be realistic about what salary, benefits and development you can offer. Understand what is in it for the candidate to join your business6.
- 8. T +61 3 9698 8788 chorus-executive.com.au Suite 2, Level 4 517 Flinders Lane, Melbourne 3000 • A wrong hire is estimated to cost 3 x annual salary of the person (e.g. $300K for a $100K employee). • A wrong hire impacts morale and productivity, it impacts opportunity, can tarnish your employer brand and have potential legal implications. Understand the true cost of a poor hire.7.
- 9. T +61 3 9698 8788 chorus-executive.com.au Suite 2, Level 4 517 Flinders Lane, Melbourne 3000 Balance the need for previous experience and immediate performance with the longer term goals and motivations for the business and the new employee. Balance skills fit with culture fit.8.
- 10. T +61 3 9698 8788 chorus-executive.com.au Suite 2, Level 4 517 Flinders Lane, Melbourne 3000 • Cultural fit is not an excuse for discrimination. • In regards to sales productivity, on average companies with the highest percentages of women board directors outperformed those with the least by 42%. Be open to bringing new thinking and new talent into your business through increasing diversity. 9.
- 11. T +61 3 9698 8788 chorus-executive.com.au Suite 2, Level 4 517 Flinders Lane, Melbourne 3000 • Every interaction you have with a candidate is an opportunity to sell or repel. • An unprofessional process will impact your organisation’s reputation in the market place. • Ensure that the people managing the process are passionate about your organisation and knowledgeable about the role on offer. Embed a timely, professional & respectful interview process.10.
- 12. T +61 3 9698 8788 chorus-executive.com.au Suite 2, Level 4 517 Flinders Lane, Melbourne 3000 • Understand the difference between an induction program and an Onboarding program. • Studies indicate that Onboarding can increase retention rates by 50% and increase time to productivity by 60%. Source: SHRM Foundation, “Onboarding New Employees: Maximizing Success”, 2010 Implement an effective Onboarding program. Bonus Tip.
- 13. 03 9698 8788 info@chorus-executive.com.au T +61 3 9698 8788 chorus-executive.com.au Suite 2, Level 4 517 Flinders Lane, Melbourne 3000 Attract, develop & retain exceptional talent with Chorus Executive.