Let’s paint a picture: You’ve hired your new Head of Technology in record time. Even better, you saved a ton of money while doing it because you didn’t burn through a ton of time and resources.
Aces across the board, right? Sort of. While that speedy and cost-efficient hire paints a great picture that companies would love, it might not be one you’ll want to hang on your wall forever.
Why? Because a few months down the road, it becomes clear this person isn’t the right fit.
So, you part ways and go through the hiring process again (and hope you get it right this time).
This is just one less-than-ideal outcome of using speed (speed to hire) and cost (cost to hire) as a proxy for hiring success.
Here are the proxies you should use instead.
The Smarter Way to Measure the Your Recruitment and Hiring Strategy
Every environmental force is telling you to hire talent as quickly as possible. Many top companies, especially in tech, are laying off some of the industry’s best and brightest, giving you a once-in-a-generation chance to scoop top talent.
Our co-founder, Ed Leva, recently touched on the topic by saying, “Companies across a broad spectrum of industries are finding themselves face to face with a goldmine of talent that can fill key technology-focused roles.” He continued, “I’ve worked in the staffing and recruiting industry for 30 years, and this is one of the only times small- and medium-sized companies have a direct path to acquire talent from enterprise companies like Meta, Amazon, Microsoft, and other notable names.”
Conventional wisdom is that doling out all the stops to hire these people ASAP is a smart move. It can be, but only if you’ve embraced an active recruiting model and someone’s been on your radar for some time.
Conventional wisdom doesn’t always equate to a smart strategy, though. When it comes to hiring, especially during uncertain times, hiring for fit is far more important.
How to Hire for Fit
Hiring for fit goes deeper than simply looking for someone pumped about the opportunity. Although excitement is usually a solid leading indicator that a hire will work out in the long run, you’d be wise to look at fit from a few more angles.
- Cultural fit: Company culture is more important than ever, especially for younger generations that don’t set their sights solely on how many numbers are in their paycheck. Why did a candidate leave their previous employer? What motivates them? What made them engage with the company? Was it the perks or the paycheck?
- Align with your mission: Does the candidate embody what you stand for, and can they illustrate there’s real alignment? How do they communicate those values, and is it genuine? Why is your mission important to them?
- Interests in your industry: Does the candidate have a true interest in your industry? Are they familiar with any industry publications? Were they in any related clubs or organizations during school? Are they members of any professional organizations in the industry? If they say “yes,” there’s a good chance they’re telling the truth that they’re ready to dive deep into your industry (if they haven’t already).
Checking these boxes—and others related to fit—will almost always yield better long-term results. Nine times out of ten, it’ll also translate to a quicker and most cost-efficient hiring process, which is what we all really want.
How We’re Different
We’ll be the first to admit our goal is to help companies hire talent as quickly and efficiently as possible. That’s not our top priority, though.
Instead of focusing on just speed and cost, we look at relationships and fit. That starts by understanding your goals, culture, and intangibles and then finding candidates that meet all of them.
We do that in two ways:
- Active recruiting: We don’t recruit just to recruit. The size of our talent pool is important, but its quality takes the cake. By embracing active recruiting, we can keep your talent pool full of right-fit candidates who meet your unique standards and company culture.
- Post-hire data: We look at quality-of-hire (QoH) metrics, e.g., attrition rate, turnover rate, job performance, the satisfaction rate of hiring managers, etc., to understand the impact of the candidates we send your way.
Reach out today to learn more about how Wellington Steele & Associates differs and how we can help you hire candidates destined for long-term success.