Rethinking Recruitment: Adding Value Beyond the Job Description
Whilst meeting with a CEO recently, we touched on the topic of recruiting for a relatively junior role. The salary range: $50-60,000 pa. But here's the twist - we've identified a more senior, experienced candidate willing to take the role for a $90,000 package. This sparked a couple of thoughts.
Hiring is Guessing, Firing is Knowing: A Bold Approach
We've all heard the extreme saying that "hiring is guessing, firing is knowing." While it may be bold, there's truth in the sentiment. Probation periods exist for a reason - sometimes, it's challenging to gauge everything about a person solely from interviews. You need to see them in action, and they need a chance to experience the role. It's a two-way street, so don’t assume that you’ll always hit the recruitment target like an Olympic archer!
Redefining Roles for Value: A Creative Solution
In this particular area of the business in question, it wouldn’t be unthinkable to pay $90,000 for a role that adds significant value. What if, instead of sticking to the initially scoped $60,000 role, we went back to the drawing board? Imagine creating a similar role worth $90,000 and discussing it with the candidate. Could we enhance the job description, make it worth $90,000, and have them contribute in a way that justifies the package?
Unlocking Team Potential: Redeploying Resources
The beauty lies in the potential space this new approach opens up for the rest of the team. By effectively redeploying the $30,000 difference from another part of the structure into this role, we ensure our spending is not just an expense but an investment. A small pivot in recruitment strategy transforms into a strategic move, creating opportunities for the team to focus on areas that drive productivity.
Smaller Business, Bigger Impact: Adaptive Recruitment
In smaller businesses, flexibility is key. We might not have all the options that larger enterprises do, but that doesn't mean we can't be creative. Sometimes, changing our approach to recruitment opens doors we didn't know existed.
When you're in the trenches of recruitment in a smaller business, think beyond the conventional. Be willing to reshape roles, redefine value, and unlock hidden potentials within your team. It's not just about filling a position; it's about strategically deploying resources to ensure every dollar spent is an investment in your team's success.
Founder & CEO | Search Fund focused on Legacy Manufacturing in Australia
8moOur receptionist became our logistics and raw materials manager in less than a year. She was excellent. I saw how great she was with keeping great trust relationships, and her organisation skills (air traffic control level) were exceptional. She didn’t think she could do it. But once in the role she was so authentic and lovely that she could get deals for us on transport and scrap supply that were near impossible. Being in a startup team the benefit is that you work so closely with your team that you have opportunity to see them and their potential.
I help business owners 1. Prepare today for a less risky and higher value future sale. 2. Respond and negotiate a better outcome when they get an unexpected approach from a potential buyer.
8moPete Seligman - agree, employment biggest 'expense' for most SMBs but also where biggest upside lies - strong ROI at both recruitment and retention stages
Vision + Strategy + Execution = Growth
8moI firmly believe in 'investing for tomorrow'. Similar to the ice hockey adage, (go where the puck is going, not where it is), I believe in anticipating where things are headed rather than where they currently are. My strategy involves crafting a profile that justifies a salary of $120K within a year, while initially hiring a candidate at $60K with incremental pay raises based on performance. This method allows both the business and the candidate to test the waters—it's a mutual opportunity. Ultimately, the outcome is either the business gains a stellar performer contributing significantly to its growth, earning $120K, or it serves as a valuable learning experience for the company regarding recruitment strategies.
Talent Acquisition | Head Hunter | Executive Talent Search
8moWorking in the recruitment industry, I could not agree more Pete. Employers offering zero flexibility and who aren't on board with getting creative are always the ones who loose out with their unplaced/harder to place roles. It makes our role as recruiters that much harder. I love this, there are so many little tweaks they can be making to reshape the role/business. And 99% of the time they are cost effective as we all know these ideas= better performance and candidates who stick to their role for more than 6 months!!!