How To Recruit Top Talent On A Budget.
Not everyone is a Mark Zuckerberg or Elon Musk to become a massive success with only talent and ideas. With the increasing number of start-ups every year, the need for high talent acquisition is also becoming an upward trend. Linkedin’s Global Recruiting Trend 2017 Report mentions that for 83 percent of the recruiters, the number one priority for their company is Talent. Whatever service or product your company may offer; your idea can become the next Facebook only with the right bunch of people. Without talent, a great idea converts into a unicorn, becoming practically impossible.
A talented and creative team can help you progress at light-speed given the correct amount of motivation. Your idea can become the next Facebook or Tesla; if you remain rock-solid while selecting your team. You need not compromise on the quality of talent even with your shoestring budget. With the advancement of technology and competition, a number of options are available to recruit top talent even on minimal budget. Also, who says that you need to spend chunks of money even if you are a big company with a booster budget back-up? Creativity never goes out of style, and that can be applied to recruit top talent for your organization at low budget also. Here’s how to do it-
1. Work Place Culture and Values
Create a culture where you don’t need to go scouting for talent. Instead make your organization the place where people want to come and work for. An office that feels like a comfort zone makes it easier for employees to connect with the products and services offered. Surely, you can refer to the hundreds and thousands of good work place culture articles over the internet. But to create your own culture, simple follow your instincts and carve a niche for your organization.
Also have important values justified at work. Flexible timings, work from home, paid time-off, etc., inculcate homely values in your company which even high equities cannot compete with. Such small perks may not cost you a thing but innumerable studies prove that it helps making your employees more productive and better engaged towards work. It binds your employees to the organization at a deeper level. Supportive staff, co-workers, and understanding managers can achieve many milestones together.
Once the top talent notices this kind of culture at your work place, they will voluntarily and readily want to join your organization. Now for example, who doesn’t want to be a part of Google?!
2. A Strong Mission Statement
Whoever said – ‘Money is not everything’ maybe said it correctly. How many times have you shown the desire to work for something that has no aim?! No one will be motivated to work simply for filling their pockets. A strong mission statement for the company is like an emotional string connecting all the departments. Once the employees know that they are working towards making a difference and achieving something; they will undoubtedly work harder towards the achievement of these goals.
3. Presence over the Internet
Whether you believe it or not, Internet has become more real than the real world. From small start-ups to giant companies, and small investors to venture capitalists, everyone is present over the web. Undoubtedly, web presence matters a lot more than you can imagine. The top talent that you are searching for is also present over the web.
Talented and creative people do job hunting on online portals these days, and scrutinize every possible company they find worthy of their talent and work. The social media accounts of your company, your company’s official blog and website, and every aspect of your web presence makes a strong statement. The Global Recruiting Trends Report of 2017, by Linkedin, clearly states that 72 percent of candidates visit career opportunities through the company’s mobile site; while 45 percent directly apply for a job via mobile. So make sure your company’s online presence talks about the aforesaid company values and culture, and its goals. Make it a point that when people search for your company; it tells your story correctly, makes an impact and attracts the top talent towards itself. Linkedin, Facebook, Twitter and other social platforms can be used for publishing job openings to recruit top talent. These platforms
have a reach stretching towards the horizon, so huge that connecting to such a big number of people is not humanly possible. With the human reach that social media offers; the possibility of connecting to the right talent without making a hole in your pockets simply increases. Use the benefits of the internet to your advantage to recruit top talent on budget.
4. Technology in place of Backlogs
In the 21st century of civilization, it is advisable not to use the traditional method of collecting resumes and creating a backlog of applicants. If you are caught up in such a backlog and hundreds of resume readings; the right talent may slip from your hands. The most important aspect of recruiting is getting the right talent at the right time. You cannot cry over spilt milk. But it is in your hands to make sure that a huge pile of applications don’t waste your time and opportunity to recruit top talent.
Focus and target on the top talent only. Instead of backlogs and resumes, use technologies that can streamline your process of hiring. You can use recruiting softwares that sort out applications according to your specified needs; saving hours of your productivity. The Artificial Intelligence (AI) recruiting technology helps to analyze huge volumes of data and technically sorts out suitable talent and applicants for the job. Specify your needs for the job and the Artificial Intelligence (AI) technology will do the rest for you. Rather than doing everything manually, simply focus on one-on-one interviews and let technology do the rest. This saves a lot of money and time also.
5. Referrals and More Referrals
One of the best and most utilized sources of hiring top talent is employee referrals. Reportedly, employees that are hired by references tend to stay for longer terms and perform better; with a higher rate of job satisfaction. The 2017 Global Recruiting Trends Report of Linkedin shows that with a 56 percent increase in the hiring volume; the top source of quality hires will be employee referrals at 48 percent. This will be followed by third party websites or online job platforms, and social professional networks at 46 percent and 40 percent respectively.
6. Make your Organization a Global Work Place
Workplace and employee diversity have gained a lot of momentum in the past years with more and more organizations opting for a global reach. Many companies have started understanding and valuing the fact that diversity in gender, age, race, talent, personalities, religions, etc., actually helps the organization to progress. A wider reach and a more varied
outlook are beneficial in solving many issues along with gaining more achievements. Allowing someone to work for your company from another corner of the globe where meetings, conferences, and projects are just a video-call away; makes you gain the benefits of global talent without spinning dollars.
Recently, a survey done by the Society for Human Resource Management (SRHM), states that for 57 percent recruiters, the talent acquisition strategies are created with a view to attract diverse talent and candidates. On the other hand, even for job seekers, a company flexible with diversity is a plus point. According to a survey by Glassdoor, 67 percent of people search for companies and job profiles accepting diversity.
To summarize these points, recruiting the top talent even with a peasized budget compared to A-listed companies is no rocket-science. Just some smart moves with the appropriate use of technology can attract exactly what you want. The world has become a Global Village, and with the advancement of technology and the Internet, recruiting top talent has become easier than ever.