5 Recruiting Strategies to Drive Profits

Written by
Rebecca Smith

Jul 6, 2018

Jul 6, 2018 • by Rebecca Smith

Are you looking to expand your company and bring on new talent among your ranks?

Sifting through applications and choosing the most appealing candidates is one thing. But recruiting the talent your company needs is an entirely different strategy.

On average, it takes around 45-50 days to fill a position. That may seem like ample time to find and hire new employees. But you could easily waste that time if you don't implement the right recruiting strategies.

The talent of a company's employees is integral to its longevity and success. You want to hire talent that will not only assimilate with your company but drive up profits and results.

So, what are the best recruitment strategies? What is talent acquisition, anyway?

Read on to find out!

Talent Acquisition Explained

Talent acquisition is a phrase that's associated with the hiring process. It refers to when a company attracts candidates with a particular set of skills and talents. The objective is to hire those candidates with the most potential to deliver results.

Talent acquisition is not the same as an open hiring process. During an open hiring process, employers receive an influx of applications. They'll often receive an abundance of resumes from unqualified candidates.

Talent acquisition, however, focuses on narrowing the search down to only qualified candidates.

How can companies do that exactly? We'll explore that next!

1. Take Advantage of Social Media

Job recruitment websites like Indeed and Monster still hold significant merit these days. You can certainly find candidates with great potential using these websites. But it's harder to focus on talent acquisition with these websites.

Social media, on the other hand, offers a more effective route for targeting the talent you need.

LinkedIn, for example, allows employers to find candidates with the qualifications they seek. Employers can do so by searching for specific keywords. They can simultaneously build their company's profile to gain more traction, as well.

LinkedIn is a social networking site, so it's easier to obtain referrals from people you know and trust, as well.

Additionally, you can pay to advertise your company on LinkedIn and Facebook. That way, you're spending to advertise and target specific audiences.

2. Promote Your Brand

Recruiting may seem like it's all about interviewing and hiring candidates. But the best and most creative recruiting strategies focus on company brands themselves.

Potential candidates not only want to learn more about the companies they apply to. They want to work for the companies that interest them most.

They'll get a good idea of your brand by viewing your company's website. But there's more you can do to sell your brand.

For starters, you'll want to highlight the characteristics of your company. What do you and your employees value most during the day to day routine at work? What is your working culture all about, aside from increasing profits?

Next, you'll want to bring the focus back to the interviewing candidate. Why are you in search of the skill set and talent you've highlighted in your job description?

Employers often make the mistake of asking generic questions like, "How would you describe yourself?" or "Where do you see yourself in 5 years?"

Instead, pivot these questions to be more about your brand and what the new position will do for your brand.

3. Nurture Your Candidates

An employer conducts a series of interviews and tells the candidates that they'll hear back soon. Then, the employer doesn't follow up with them, weeks go by, and the candidates look elsewhere for work.

This is an all too common occurrence during the recruitment and hiring process. Many employers make the mistake of leaving potential candidates hanging with uncertainty.

That's why it's important to follow up with your candidates.

Doing so will not only make you seem more personable and reliable as an employer. It will leave candidates feeling like their talent is of the utmost value. And if they feel appreciated, they may hold off on applying to the competition.

4. Know Your Candidates & Their Expectations

Every worker, no matter their age, wants a sustainable salary that they can live off of. But a decent salary isn't always everything.

Millennials, for example, tend to value health benefits over big salaries. Baby boomers and Generation X workers are usually more concerned about retirement packages. Some workers may want a flexible work schedule if they have young children.

If you want to attract the best talent, you'll have to offer the best employment packages. This requires you to have a strong idea of who you want to hire. During the interview process, talk with your candidates about their needs and wants.

You may need to downsize so you can afford to incentivize new employees. Companies will often downsize their secretary department to make room for new talent. Because there are answering services and call centers, this is an affordable option.

If you're curious about the benefits of answering services and call centers, you can check out this page to help you weigh out your options. That way, you can downsize where appropriate and expand your company in other areas.

5. Build Your Team from Within

Perhaps the new talent you seek is already right under your nose. There may be no need to focus your recruiting techniques on finding new employees.

If anyone on your team shows promise, consider promoting them. Your employees are already familiar with your company and how it works. If it won't cost too much to train them, don't go through the trouble of recruiting and hiring anew.

By promoting your current employees, you'll reaffirm your company's work culture. Employees appreciate it when their employers recognize their potential. They're more likely to stay with a company that will give them opportunities to grow.

It may be more expensive to hire someone entirely new than to train your current employees. Know which skills you need to drive results. Then, consider how you can train and how much you'll need to invest in it.

Help Your Company Grow with Unique Recruiting Strategies

As a hiring manager or head of a company, you don't have time to sift through hundreds of applications. You need to be able to choose from a set of qualified candidates who offer the talent your company needs to drive profits.

Are you looking to spearhead new projects and set your company down new directions? If so, don't underestimate the power of recruiting strategies. By hiring the talent you need in a timely manner, you'll be able to accomplish your goals and produce big results.

For more information on how to build your company, check out our Careers Blog today!