Save Money by Hiring Top Talent

You may think that hiring top candidates is going to cost you more. But think about how much you lose when you settle for anything less:

  • Low morale caused by introducing a poor performer into the workplace
  • Wasted training time and dollars
  • Fees for background checks and drug screenings
  • Time invested on phone screens and interviews
  • Your company’s reputation
  • The high cost of turnover

Instead of wondering if that new employee will really work out and stick around, re-think your selection process so you’ll be more likely to know if you’ve chosen the right person. What do you need? Job-related data about each candidate and a consistent process to help you get that data.

Develop a plan and a proactive talent acquisition strategy.

Don’t just hire the best person that applied, hire the best in the market. Organize your selection, screening and interviewing process. You can post job openings, source passive candidates and reach out to your network, but the interview process is the crux of the hiring process and requires the most planning.

Create an interview committee that decides which candidates will be interviewed, how many rounds of interviews will be required, how many interviews in each round, who will cover what topics in interviews, and what questions will be asked. It’s important to use the same interviewers, asking the same questions, with each candidate to ensure consistency. This will make it easier to judge respondents’ answers and compare notes after each round.

After hiring, implement some key performance indicators (KPIs) and metrics to determine if your strategy is working. These should include:

  • quality of hire
  • source of candidate
  • number of resumes put in the system
  • interviews generated
  • candidates hired
  • cultural fit
  • yearly performance
  • retention.

These factors will need to be measured for 3-5 years to determine what is working and what is not, but the time you spend in creating a defined interview strategy should pay off almost immediately.

If your “quality of hire” KPI is high, success will feed on itself. When your caliber of hires is higher, your employee brand will be enhanced, and that will help attract more top talent. When organizations commit themselves to excellence in hiring, success follows. Great employees want to work with other great employees.

A well-planned talent acquisition strategy is well worth creating, implementing and executing. Over time, you’ll avoid unnecessary costs and generate revenue/profits by identifying, attracting, hiring and retaining the best people.

If you need help recruiting IT talent in Richmond and beyond, contact the IT recruiting experts at Triumph Services. We have helped companies find top talent nationwide, and would welcome the opportunity to work with you!

By Logan Bragg: Partner, Triumph Services. As head of the Recruiting Division of Triumph, he has helped thousands of candidates find rewarding positions.