What are the 6 steps to developing an effective hiring strategy?

The people you hire play a crucial role in your company's performance. Every employee is an investment that carries risk, and a bad hire can have a negative impact on your company's reputation, productivity, and profits. To mitigate hiring failures, you need to align your hiring strategy with your company's business plans, assess your hiring options and engage relevant personnel to help you find the most suitable candidates. Here are six steps to help you plan, measure, and achieve your hiring goals:

1. ALIGN YOUR HIRING STRATEGY WITH THE COMPANY’S BUSINESS PLANS

Reviewing business goals to ensure that they are attuned to current internal and external environmental factors such as external economic impact, new technologies and changing demographics. Your business plan is essentially a determinant of your hiring strategy. So be mindful of the impact of such factors in the business environment, and industrial and market trends on your business goals. 

It’ll also pay to forecast any possible changes in the business or recruiting environment in the next few years that might impact the company’s current strategies, approaches and processes. It is also critical that your hiring strategy is not rigidly structured, but able to “flex” in accordance to changes in the marketplace.

2. ESTABLISH YOUR HR GOALS, STRATEGIES AND PLANS

The hiring process is generally a complex, time-consuming and costly affair. So strive to focus your attention on the highest-priority business goals and hiring objectives. 

First, determine the business goals you wish to impact; for example: expand the marketing team by 25 per cent in the next six months to cope with the growing demand.

Next, determine what your staffing objective is, what you are looking for in a candidate, the recruit processes you want to employ, and the budget you have to work with.

Assess whether the necessary skills to grow the business are already in existence within the organization or whether it would be better to develop them through training or upskilling programmes.

3. ASSESS YOUR HIRING OPTIONS

It is always a good idea to look internally for potential candidates first. Determine if any top performers and existing employees within the company can step up towards meeting that higher growth target or any other stipulated goal. An existing staff member who is qualified to be deployed or promoted to a new opening can be valuable as he or she is already familiar with the company structure and culture, and therefore easier to train and able to grow into the new role faster.

4.  ENGAGE THE EXPERTISE OF RELEVANT PERSONNEL

The process of hiring talent will involve the deployment of resources across the organisation. So it’s likely you’ll have to collaborate with the relevant personnel throughout the course of the hiring process:

Internal staff: Enlist their help to specify the qualifications requirement and description of the position, evaluate and define the recruitment options, produce advertising materials, and screen, interview and evaluate prospective candidates.

Training and development team: Collaborate with the relevant personnel to prepare any orientation/training materials and assign training personnel necessary for getting the new hire up to speed in his or her new role.

Human Resources department: Ensure that the HR team has a clear understanding of your hiring requirements and expectations from the candidates you are seeking, so that they can manage the hiring process more effectively and help you find the most suitable candidate/s.

Headhunters: Any collaboration between the headhunter and the client to map out an effective recruitment strategy should be carried out at the early stage.  Being specialist headhunters, they have worked with many employers and candidates over the years; this experience puts them in a very strong position to support the development of an effective hiring strategy for employers in two ways: firstly, in providing employers with a clear perspective of what is attractive to top talents; and secondly, having sound knowledge of the strategies that will bring success. 

This is crucial, especially when they are devising their workforce strategy and planning its execution. As specialist headhunters, we have the in-depth knowledge and understanding of the market and talents within that space. This allows us to work with our clients to effectively identify where and how we can help to fill in the talent gaps within their organisations. Headhunters are also in the position to offer consultation services and help our clients identify market trends, especially in the business and talent space, to give them a better understanding of the happenings within the industry.

5.  DEVELOP A BUDGET PLAN

Set your budget around prioritised goals and programmes. It’s important to remember that a hiring strategy development and goal-setting process that’s independent of the budgeting and resource allocation processes will invariably fail.

Collaborate closely with the relevant finance personnel and recruiting programme managers to re-examine the budget whenever any component of the hiring process requires adjustment.

6. DETERMINE YOUR TIMEFRAME

The hiring process – from the time a position is opened up to the time it is filled –involves tedious preparation. Using an orderly, commonsense approach towards developing your timelines will help steer the entire process towards fruition more efficiently, and within the given budget.

You’ll need to allot deadlines and effectiveness metrics (using periodic assessment points) for the recruiting, evaluation and hiring tasks. The entire length of these processes will have a direct bearing on your recruiting options, and how much manpower and expenditure you’ll need to incur in order to accomplish your goals.

By following these six steps, you can plan and implement an effective hiring strategy that aligns with your business goals and helps you find the right talent to drive your company's success. ”