What Has Happened?

If you have read any of our blog articles you most likely are painfully aware of our consistent effort to alert company leaders and hiring managers that talent is going to become scarce. Well, it has happened.

Because we talk with companies on a daily basis in numbers, we gain considerable insight about what companies are experiencing. Most recently we have been hearing the following from company leaders, hiring managers and even some HR professionals:

• “We can’t find a ___ (fill in the blank) __ to save our life.”

• “We have been looking for a __ (fill in the blank) __ for __ (fill in the number of months___.”

• “We get a lot of responses to our job postings but no qualified candidates.”

That is just a sample.  Now the majority of company leaders are starting to see and hear internally that they are struggling to find the talent they need. What has happened?

For a long time, company leaders would respond that they are not having any problems or they only had a couple of positions with which they were challenged. When the same company leaders asked why we wanted to speak with them (a standard question because most mistakenly think that Human Resources are the people with whom we should speak). Our response is that while they may be unaware and the subject has not been brought to them it eventually will land on their desk that the company is struggling to find the talent they need. Of course when something gets elevated to that level it is because it is that important.

Most company leaders have been willing to listen and discuss as they want to head off a problem if possible so they are not so far behind with a solution that they cannot overcome it.

Now it seems the problem is out in the open. The majority of companies are recognizing the talent pool they have been used to working with for finding talent is virtually non-existent. In addition, they slowly are recognizing that their practices to find talent are not succeeding. Practices include:

• Job postings
• Networking within their industry
• Networking within their professional associations
• Internal efforts to recruit
• Search firms
• LinkedIn
• All other social media
• Electronic recruiting

Most of these are failing or are inconsistent at best. Let’s see why.

• Job postings – Since there are approximately only 1 million candidates for approximately 6 - 7.5 million open positions there are a lot of competitors. The fact of the matter is the talent needed is currently working not looking.

• Networking within an industry or professional association – Again, not that many are looking for a new position and few are unemployed.

• Internal efforts to recruit – They are typically seeking talent among the unemployed or electronic places the unemployed are found. They are ill-equipped to seek talent within other companies.

• Search firms – almost 90 percent of recruiters have left the industry through the recession. Most that remain seek candidates the same place their clients seek them.

• LinkedIn and social media – Mostly filled with unemployed and those employed have not updated their information and it is unproductive.

• E-recruiting – Because technology is advancing at the speed of light everyone wants to have the latest, sexiest software so they can be in vogue. For some applications that is admirable and highly productive. In the case of talent acquisition, it is not productive. People still respond best to other people.

So what is a company to do? The answer is not too complex but it takes bold company leaders to insist their organization change in order to continue to be successful. Here are some helpful suggestions.

Become a recruiting organization, stop being a hiring entity. Learn how to attract people in order to not struggle so hard to find what is needed. There are specific ways to make that change but it has to start with company leaders wanting to change.

If your company has internal recruiters get sound training for them to become effective recruiters in this hiring environment that will be with us until the end of the decade.

Partner with a search firm that:

1. Understands what is preventing you from achieving your goals and objectives

2. Understands the hiring environment.

3. Has a history of recruiting those (the employed) who are already doing what you need done.

4. That can represent your company in an accurate, honest, positive manner to attract potential candidates once they are found.

5. Can conduct the proper due diligence in order to verify and confirm the individual is qualified.

6. That does all the work and only presents 2-3 candidates but they are all qualified.

7. Prepares everyone for a productive meeting so your company identifies the one that is the best fit for your organization.

8. Guides the offer process so it minimizes the “bidding” process because most candidates will have multiple offers.

9. Continues to provide support after the acceptance of the offer for an effective start.

All three of these may appear to be common sense and they are. However, most organizations seem to be determined to continue to do the same things over and over expecting different results. In other areas of organizations that mentality is not acceptable and it is puzzling why it is acceptable in talent acquisition.

There is a real effect to this mindset and we are starting to see the effects:

• New product development is slow or stops

• Initiatives are delayed or cancelled

• Sales territories are left to competitors

• The cost of recruiting mounts as time goes on without results

• When a candidate is hired the average tenure today is only 14 months or less. A new search is required initiating the rise in costs again.

• Shareholders start to ask questions and get worried

• Financial goals are missed

• Opportunities are missed

• Misleading rumors can spread within an industry

• Morale can plummet within an organization due to the additional work load and concern about the welfare of jobs.

I am sure there are many more. We have been solving these types of problems for clients for a combined 50 years. Please feel free to contact us to discuss your particular situation and solutions that will benefit your organization.

Contact us at 919-435-6873
Kvn.sutton@gmail.com