” You said you love me and that’s a fact,
And then you left me, said you felt trapped “
Employee Loyalty. Don’t Make This Hiring Mistake, It’s A Train To Nowhere —
Man, the Clash nailed it. Rejection sucks.
Beyond romance though, that same sentiment can be applied to hiring people “on the cheap” approach to fill key positions in your company’s growth plans. It’s just a bad idea.
And you never know when the talent train will leave the station with your best High Impact Talent on board. Employee loyalty is HUGE!
Chances are it has before if you ever hired people “on the cheap” to solve issues at your company.
Put simply: You will never have any Employee Loyalty if your recruiting strategy to fill mission-critical roles is to find people who need work and pay them less than they used to make. You should pay people what they are worth — regardless of their situation.
Let me give you an example.
Once in another life, I briefly worked for a company whose strategy was to wait until the oil market dipped and then hire people who had been laid off.
“Driving the train doesn’t set its course. The real job is laying the track.
Ed Catmull, President of Pixar
Problem is, they would offer them less than their market value –what they were making when they got laid off. Why? Because they could. They knew these high-caliber professionals needed to work so they would, basically, take advantage of them.
Other than being more than a bit shady and certainly not very nice, this type of recruiting strategy is a bad. It only breeds resentment in the end. Here’s why:
New hires know they are being taken advantage of
There is no employee loyalty
Say goodbye when things get better — they’re heading elsewhere
You’ll be left with only average talent and big plans they can’t execute
It’s a simple fact: Talent that has taken your job for less pay are literally biding their time until they get a better offer. More money. Better benefits. Greater opportunity. Or all three; but they will get it and leave in a heartbeat to get on board with somebody else.
If You Want To Build Employee Loyalty, Don’t use a recruiting strategy that takes advantage of people — it’s a train to nowhere
Good, transformational professionals work hard to get the best experience they can, build their career and create market value for themselves. And if you aren’t paying what they are actually worth, you won’t find or keep them. They won’t be loyal to you or your company.
Look, High Impact Talent is an investment, not an expense. When folks are out of work due to the economy, THAT is the time to reward their market value with a similar or better compensation package than the competition. The idea is that you want them to know that YOU value their expertise and experience –especially when their former employment clearly didn’t.
When you look at this as an investment, you will find it’s a great opportunity to gain employee loyalty and start your relationship off on a positive track and begin to create a long-term relationship that is rewarding to both YOU and your new, key hire.
Remember: It’s All About The Candidate Experience
I’ve spoken about the hiring process in the past and I continue to emphasize how absolutely critical it is in ANY recruiting environment. What is your hiring process like from the candidate’s perspective? Are you using the “correct process” for the position you’re recruiting for? Is it “consistent”, are you “controlling” the process and are you being “considerate” to the applicants’ needs? If your process is too complex, confusing or long-winded, chances are the best folks are taking the train that takes them to a better deal.
Take some time to evaluate your current process and streamline wherever possible. Make sure communication is top notch and timely. Make it a good experience. Treat them with respect
Stay tuned for our next blog and in the meantime…
Make Your Business Rock
Corey Harlock is a driven consultant, teacher, keynote speaker, and three-time business founder. After shutting down his Recruiting Agency HRN in Canada to move to Houston, Texas, Corey realized that the huge majority of businesses and business owners were being severely underserviced and, in some cases, ignored. So, he created and launched a company with a mission of helping only small and mid-market businesses, authored dozens of articles on team building, talent acquisition and the power of Building a High-Impact Team for growing companies.
Corey is currently the Principal Consultant of Key Hire Recruiting Solutions, a strategic talent acquisition firm that helps business owners acquire the talent and build the teams they need to meet their growth objectives. Key Hire’s proprietary process takes a deep dive into a company’s organizational culture and determines the people to target, engage with and hire to meet and exceed their growth objectives in a controlled manner.
#keyhire #talentstrategies #talentsolutions #recruitmentconsultant #recruiting #teambuilding #hiring #culture #keynotespeaking