I speak on a daily basis to company leaders. I always find it interesting that some albeit few, try to shoo me away by sending me to their HR department. I appreciate that in their particular organization they assume that recruiting lies with HR. It tells me the organization is only interested in filling a position with someone, anyone who remotely looks like the position they have to fill and they don't really understand how they actually achieve their objectives and goals.
On the other hand, most company leaders are eager to speak with me. In conversation it becomes very clear they recognize that the achievement of the goals, objectives, initiatives, opportunities, etc., is dependent on having all the right people. They recognize all the right people contribute their skills, abilities, accomplishments, experiences and personal characteristics that match the organization to achieving what is needed.
Frankly, I am most interested in those conversations about the achievement of their objectives and goals, what is thwarting their achievement and what they see as needs to achieving those objectives and goals. After all, that is what the Sutton Group does. It helps organizations achieve their objectives and goals, whatever they may be, by providing the right solution to the problem of a vacant position.
It is like the analogy of the drill bit versus the hole. If you don't know the story, I am happy to share it as it is a perfect analogy for real recruiting versus what most assume is recruiting.
But, let's look at what one of the biggest stumbling blocks for companies today towards the achievement of their objectives and goals. Those who like numbers will relate well to this.
Currently there are approximately 3.4 million open professional positions in the US, did you know that? Those are advertised positions and it can be found in the Bureau of Labor Statistics information. In total, advertised and unadvertised, there are somewhere between 6-8 million open professional positions.
The unemployment rate for professionals (25 years old and older with a four year degree or greater) is only 4.0 percent, approximately 1.9 million individuals, were you aware of that? Out of the 1.9 million, half or more is not looking for employment leaving a potential talent pool of only 950,000 or less for millions of open positions as most companies and search firms look at it.
The lack of the right people does not not exclude companies from having to meet objectives and goals even if their goals are to remain in the status quo. So it poses the question, where do you think most of the candidates will come from for the open positions? Where will the best ones come from? If you don't think this will impact your company, your company is either shrinking and laying off people or you have a workforce that will not quit, leave for another position, or retire at least until the end of the decade.
If you said your company will have to find those who are already doing that job for another company, you are correct.
Are you going to stick to your guns and continue to advertise for your open positions even though the bulk of the talent is not looking at job postings because they are busy at work? The vast majority of those who do respond to the job postings are not qualified for the position.
Are you going to seek candidates through social media even though it is common knowledge that most passive candidates have withdrawn from social media? Those still involved are typically part of that 950,000 that are not intending on truly seeking employment.
Are you going to employ search firms that gravitate to job boards, social media and data bases hoping someone will show up that sort of looks like who you want?
How are you going to compete not only for the talent you require, but for business in general with those companies that are aggressively employing means to find the right people? They may even be finding your best people.
As if you don't have enough challenges with the world debt crisis, a shaky economy, an uncertain election, competition, etc, now you have to transform your company into a recruiting company rather than a hiring company that before was comfortable and seemed to work, sometimes. You also have to find the right resources that can do what you are unable to do. And, are you prepared to continue to compete successfully for the right talent until the end of the decade?
Is your company in position to compete successfully for those who are currently working? Remember most are not seeking a new position. How will you find them? How will you attract them, with higher compensation or better "perks". That only goes so far and you end up driving up overhead to where it becomes its own problem. The fact is that 9 out of 10 people either accept an offer or decline an offer because of something else besides compensation. Does your company know how to work with that?
Is your company prepared to deal consistently with candidates who receive 2,3,4 and maybe 5 offers from other companies competing for them? It is common place today. Even if they were not looking before you may have found them, once known they are looking other companies swoop down and join the competition.
Can all your hiring managers, your HR department and you express well why your company is a great company? Why the work is a fulfilling challenge? Can anyone in your organization reach into an organization find the right person and articulate a truthful vision of opportunity that might interest someone who before they were contacted had no plans on changing employers?
This gives you some serious questions to think about. Part Two will examine what some of the potential solutions are and what will actually work.
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