Executive Coaching Articles

Grow your Human Capital by Identifying Four Critical Success Factors in Recruitment

Skilled employees that build your company are becoming as valuable as gold. There’s fierce competition for top talent. And with the cost of recruitment and training at stake, it’s critical to find a great fit for your company every time you hire. Your investment in Human Capital can find a higher degree of success when you consider these four factors.

  1. Find better measured results. Companies are scrambling to find valid ways to measure skills and knowledge. The Society for Human Resource Management says, “The development of deeper levels of analysis to monitor metric outcomes, identify trends, leverage positive outcomes and intervene in or mitigate negative outcomes will lead to better overall human capital management.” As companies carefully assess their skills gaps and accurately measure the skills and abilities of those they want to recruit, they will have more success in hiring the talent that will perform well within their company.
  2. Understand the millennial generation. Younger workers have different values than the “old school.” They want to see rewarding work immediately and they are not always willing to “pay their dues.” They want life balance and are concerned about ethics, sustainability, and social responsibility. When businesses build upon these values, it can lead to critical success both in recruitment and within the company. To insure success in hiring, make sure the prospective employee understands the company’s stand on these issues.
  3. Choose non-full-time hiring for greater human capital. When the company can consider flex-time, part-time, and hire-as-needed talent, you open the talent pool to greater choices and diversity. You can hire the perfect (and very expensive) expert for a project on an hourly or contract basis. When the job is finished, you don’t need to worry about out-placement, benefits, transitions, etc. When there is a sudden influx of work, hire-as-needed from temp agencies or from websites like Elance or iFreelance. Take advantage of the knowledge and skills of stay-at-home experts with flex time.
  4. Use Social Media to your advantage. Of course, you will check out Facebook to judge the character of your prospects, but don’t stop there. In recruiting that critical human capital in the future, recognize the way social media shapes the thinking of younger workers. Gautam Ghosh from Human Capital League explains that social media fosters radical transparency, the wisdom of the crowd, collaborative thinking, and embracing the big idea. These can be huge advantages to companies, if they are valued and allowed to flourish. Ghosh continues, “Organizations which have to work with and engage today’s generation will need to provide them with a technology ecosystem that is similar to the technology ecosystem they access in their personal lives. Clunky email systems and static intranets will cause a workplace to be labeled “not cool”. To gain critical success in recruiting top talent, companies must create active media interchanges and the perception as a “cool” company or a good place to work.

Increasingly, the costs of human capital make smart recruitment critical to the success of every business. As companies are aware of these four factors, they can manage their talent pool by hiring employees that will fit with the company goals and values. And those hires must bring with them the skills and knowledge necessary for your business success.