The Ultimate Hiring Formula for Recruiting Top Candidates

Posted by Maria Talley on Mar 31, 2016 4:27:00 PM
Maria Talley
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Like most employers, you want to recruit the best candidates possible. Sure, a great product or an amazing strategy is important, but without the talent to back it up, you’re unlikely to meet your goals. Companies like Google, Inc. seem to have found the magic formula for attracting top talent. With so much competition, where do you start? To start, companies like Google have a well-defined recruiting strategy. Data, research and analytics are vital to every aspect of their operation, including hiring. Here are some tips that can help you develop your own ultimate hiring formula.

 

1. Define Your Goals, then Scale Back

The hiring process normally consists of four steps: sourcing, screening, interviewing and hiring. Before you even start the hiring process, you first need to determine the number of employees that you’ll need. Work ahead by multiplying by four. This is what Hulu decided to do based on the 4-stage process.  If you need to hire one developer, for example, you’ll need to interview at least 4 people, which requires screening 16 and sourcing 64.

2. Diversify Your Sources

If you want variety, you have to mix it up a bit. Where you’re likely to find top candidates will depend on your industry. Check out social networks, job boards and specialized recruiting platforms. Don’t rely on just one or two sources. Technology like recruiting software and automated apps can lead to more recruits. Consider each of the sources that your top candidates apply from and then build a pie chart that sorts this out. Sources should include:

  • Referrals. This is the most popular channel. Many companies use incentives like cash bonuses for referrals, but encouraging referrals shouldn’t stop there. Open positions should be continually highlighted to current employees. Rewarding an employee for a referral publically and on-the-spot can also go a long way toward encouraging sharing open positions.
  • Outbound Recruiting. Turning to LinkedIn is a great start, but in order to recruit effectively, you’ll need more options. Try Facebook, GitHub and Stack Overflow. Also, check out some of the newer marketplaces, which are often industry-targeted. Recruiting agencies still play an important role in the recruitment process and can be a great source, especially for senior hires.
  • Inbound Recruiting. No matter the size or age of your company, you should have a good flow of people actively applying for jobs. In order to make this happen, you’ll need some positive testimonials. Your website shouldn’t just include boring job descriptions. Use pictures and content to tell compelling stories.

3. Track and Screen

Once your candidates start pouring in, it’s time to scale them down to viable prospects. Technology can really help out at this point. As much data as possible should be collected for each candidate. At a minimum, you should have a history of engagement with your company, basic background information and referral feedback. At this point, many successful companies will choose a group to screen by telephone or even email. Once you’ve chosen your top candidates, it’s time for the big interview.

Hiring top talent takes strategy, but it won’t happen without an effort. Set goals, diversify your sources and collect relevant data and you’ve got a solid formula for success.

To learn how Candidate.Guru can help you find the right talent by utilizing our culture matching engine, schedule your consultation today!

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Topics: recruiting productivity, hiring, recruiting

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