For the owner of any business, whether to hire or not, in particular to fill senior positions, is a difficult decision that has the potential to elevate your business to greater levels or send it down a slippery slope.
Many business owners debate whether using a recruitment firm is the right decision for them particularly when considering budget.
Like everything in business, doing it properly and with the correct processes in place very often means getting exactly what you want and has the potential to not only save time and money in the long run, but increase profits given that a great recruiter will help you enjoy ROI that will make them worth their fee.
However, finding the right recruitment firm is as imperative as finding any business partner or service provider for your company. Perhaps even more so given the importance of finding senior hires that not only do their job exceptionally well but also fit your firm’s culture which has become more and more important in today’s business world.
Your recruiter needs to truly understand your firm and what you offer and, most importantly, what your true culture is. A culture fit is invaluable and offers a far greater chance of long-term success both for your firm and the new hire than someone who has all the qualifications but lacks the traits to really fit into your specific firm.
Related: 5 Tips to hiring the best employees
And remember, finding a great agency should only be one part of your overall staffing strategy. You should also use your own staff for referrals, LinkedIn, web based internet boards, and other resources, alongside a market-leading agency – using just one of these is not going to give you the reach you need and you will miss out on potential ideal candidates.
Using Predictive analysis, machine learning and AI in your hiring process
In the data age, you need an agency that truly understands how to use predictive analysis in the hiring process. Hiring a senior level executive is not simply about filling a space in the firm, you are hiring someone to lead, to develop and nurture team collaboration and to help your organisation reach its objectives and goals.
If you can find an agency that uses a comprehensive, machine-learning-based analytics platform that is capable of not only precisely matching candidates to their ideal job, but also to their ideal firm/company, then you will be using tools that your competitors do not necessarily have access to.
By using an algorithm that can produce in-depth candidate analyses based on metrics relating to previous performance, previous firms, desired roles, skills, previous deals, as well as “culture and fit” metrics such as personality and motivations, you are giving yourself the chance to bring in exactly the right person, for the long term, based on fact.
Using an algorithm adds an additional layer of analysis to your approach, and will set you apart from your competitors. Furthermore, a platform such as this has the ability to predict the likelihood of success and retention of these positions.
It’s not simply hiring; it’s making an investment
Many business owners recruit for their own firms in an incomplete fashion, believing in their own hunches and going on their ‘gut feel’ instead of past achievements and successes, and cultural fit. Sometimes too, the recruitment process is extremely exhausting and it is either fobbed-off to others internally or the process is sped up due to impatience and in an attempt to save costs.
Whatever the reason, it is so important that the selection process is handled with care, patience and a combination of data relevant to your business and its culture. In other words, a more careful and considered approach. People are often your biggest investment; you must treat every hire as if you were personally investing your own money.
Related: 6 Tips to keep in mind when hiring your first employees
By having a structured and thorough approach to hiring including rigid scoring and testing, the process is not only more time effective but will result in the appointment of an appropriately qualified candidate who will fit in fairly seamlessly. This is again reason why having an experienced recruitment partner who is able to deliver, and understands exactly what is needed while essentially easing you through the process, is a worthwhile investment.
What steps should I definitely take before hiring?
There is never any guarantee that your investment will bear long-term fruit but your recruitment partner can do as much as possible to mitigate your risk. With experience at a senior level they should be able to offer you quality candidates who fit your requirements given their initial interview process, behavioural tests, and culture assessments.
Also, a mistake many firms make is they do not onboard properly. After hiring the right candidate, the new hire is often forced into the deep end with little integration or training (if appropriate). Not only does this hinder their progress but it, of course, will affect ROI given that their success will only be slower, no matter how brilliant they are. Make sure processes are in place to enable your new hire to quickly and easily confirm your decision to fill the position as being the right one.
Once have selected your recruitment provider, grill them on their processes to find out exactly how they map the market, connect with the right people, their background checks and to see how they are representing your brand to the market. Only then will you know you have the right people working on your behalf.