And just like a strong stock, there is a great deal of strong talent that is undervalued and waiting to be picked up by savvy business owners.
Really, there’s no better time to identify and hire the Best Available Talent than when your competition may be letting go of great talent while the workforce is simultaneously experiencing high churn across the board. What do I mean by the Best Available Talent? Dr. Bradford Smart stated in his stellar book Topgrading that the best available talent is someone who is in the top ten percent of those candidates available for a particular position.
This seems a little circular... how do you know someone is better than the other ninety percent?
You need a methodology. When hiring managers and business owners alike hear the phrase Best Available Talent, they tend to concentrate on the words “Best” and “Talent” and skip over the all-important “Available.”
The good news is that many more people — for one reason or another — have become "available talent." The challenge lies in handling the flood of resumes you can expect when you post an open job. For instance, we recently helped a client hire for an executive assistant position in Dallas, Texas, and in one week, they received over 1,000 applications. Fortunately, they were using the NewHire software so they never saw a single paper resume. But imagine two reams worth of resumes stacked on your desk, all promising that it represents your ideal candidate.
Think about making a smart investment in your business and in your company's workforce. Take advantage of these times and realize that your recruiting process may sink or save your business.
If you'd like more information about other ways your company's hiring process can (and really should) be capitalizing on the current economic situation, feel free to contact me at (877) 923-0054 or at firstname.lastname@example.org.