Friends and readers - as you have probably guessed by now, BHT is on hiatus. You can expect the team here to crank back up sometime in Q4 2010.
Thanks, and stay tuned!
–Adam
Welcome to the next decade!
If you’re anything at all like most people, you’ve taken at least a few moments to think about your resolutions for the new year. Maybe you’re going to finally use that gym membership you’ve been paying $79.95 a month for (for the past three years), or perhaps you’ve resolved to stop buying Cheez-Its (hard to pull off!). If you’ve stuck to it thus far, congratulations, you’re a better resolver than I.
Here at Better Hiring Today, we’re concerned with making better hiring decisions, and, as such, our New Year’s resolutions tend to run in the recruiting vein. Why not add a few recruiting goals to your list? It’ll be a lot easier than giving up beer.
Repeat after me: “I, [state your name], hereby resolve to…
“…Use social networking to promote my company to prospective employees.” You’re probably as confused about how to use Twitter and Facebook as the rest of the world. It’s ok. But you know what? These tools work wonders for passive candidate recruiting. And they’re free, for cryin’ out loud. Embrace them. Learn how they can work for your company.
…Use a standardized selection process for making my hiring decisions.” What, flipping a coin isn’t cutting it for you? Stop winging it and make the move to a standardized process. There are many systems available, including the one I developed (The Ionix Hiring System - available here). Do your company, yourself and your fellow managers a favor and help them pick the right person for the job.
…Say no to mediocre candidates.” Just because you have an urgent job opening that needs to be filled doesn’t mean that any decent-looking candidate with a pulse and a smile should be hired. Be patient. Wait for that right candidate.
…Plan ahead for my hiring needs.” This just in: 2009 was a tough year for business. You’ve probably cut staff, reduced or frozen hiring, and shelved that recruiting initiative that, in 2007, looked like a must-do project. Most leading economic indicators are pointing a Q3 2010 employment rebound, which means you have 4-6 months to get your plan in place. Start now! Don’t go back to crisis mode circa 2006.
…Hug a recruiter.” Ok, that one was for me. Recruiters need love, too.
Here’s a prosperous 2010!
You’ve seen this movie before:
Manager interviews “superstar” salesperson and feels relieved that this prayers have been answered. Superstar candidate negotiates a base salary and draw that’s way out of the comfort zone of the manager, but, hey, she’s going to be worth every penny. One month into the relationship, nothing much happens. Three months into the relationship, the manager starts to worry because the former superstar doesn’t seem to be catching on. Six months in, still no sales. Twelve months and six figures later, the manager pulls the plug. They’re stuck with unemployment liability and COBRA administration for the next 18 months…worse off than before, and beginning to wonder if they’ll ever get this sales hiring thing right. Read the rest of this entry »
The American Staffing Association’s index measuring changes in temporary employment rose to a monthly reading of 75 in August from 71 in July (out of a baseline value of 100, which was pegged in June 2006). The index has risen for six consecutive weeks since the July 4 holiday, the first time it has risen for six weeks in a row since the fall of 2007.
It’s long been held that when staffing companies do well, permanent hiring follows 3-6 months later. I’m currently seeing a significant pickup in staffing needs at large and mid cap companies, both of whom have slashed payrolls to the bone and held off on just about every expenditure since late 2008. This ASA index reading validates the anecdotal evidence that’s showing up everywhere right now.
The question for you is, “Am I prepared for the rebound?” We’ll discuss that one next week.
Editor’s note: A special thanks to my readers as I took a hiatus from posting in August. We’re back in the saddle for what promises to be a much better 2nd half! Stay tuned!
Here in Chicago, where unemployment in June topped 11%, the market for full-time professional positions is very, very tight. Large employers here are very hesitant to increase permanent headcount, but are finding that their lean workforces aren’t keeping up with demand.
The solution? Hiring contractors.
Last week, I met with a large consumer products company to discuss their workforce plan for the next 12 months. In that meeting, their stated workforce strategy was to keep full-time hiring on hold, and to pursue hiring contractors for all roles, with the aim to convert them to full time employees within the next 6 months. That’s a significant change from their previous strategy, and, since most other large firms with whom I speak seem to be following a similar path, the implications for the workforce are several. Read the rest of this entry »
While the unemployment rate in the Information Technology sector is faring better than in other job categories, it’s still not rosy. A new survey out yesterday explains why.
Almost half (46%) of all information technology organizations plan to cut headcount this year, according to a survey of 200 IT executives released on Monday by Computer Economics, an Irvine CA-based IT metrics and advisory firm.
Twenty-seven percent of IT executives plan to add staff this year, and another 27% plan to keep their staffing levels the same. Read the rest of this entry »
If there’s one upside to a recession, it’s the fact that great candidates abound.
Just twelve months ago, companies were scrambling to find people for skilled positions in sales, IT, and finance. Companies find themselves fishing in a much deeper pond these days, and I am increasingly hearing that the the problem is now no longer how to find great candidates, but how in the world to whittle that stack of 500 resumes down to the 3-5 people you actually want to spend time interviewing.
Where previously clients were hiring us to go out into the field and “pull” candidates into the hiring process, now they’re calling us to help process inbound applications because the sheer volume is overwhelming. I’m seeing ten times the applications per job than was the case in 2007. And, since most companies have scaled way back on internal HR staff, the “too many candidates” problem is amplified. Read the rest of this entry »
This recession is longer, deeper, and more painful than many business managers were prepared to handle. When things turn around – and they will – the expectations for the relationship between employer and employee will be dramatically different. A few key statistics highlight the coming shifts in the US workforce.
Here’s what you need to know: Read the rest of this entry »
Sometimes it feels like companies make a concerted effort to drive their top-producing salespeople out of the organization and into the welcoming arms of the competition. If you read that line and chuckle, then you know exactly what I’m talking about.
After all the time and effort expended to locate, hire, and train top producers, why in the world do most companies do things that make their top salespeople quit? In my opinion, companies don’t pay attention to the basic drivers/motivators for top producers. If your company has a hard time holding on to salespeople, it’s probably for one of the following reasons: Read the rest of this entry »
I recently had the opportunity to speak with a number of bank executives on the topic of recruiting investment advisors, and thought I’d share with you, in the words of these bank execs, the specific traits and experiences that top-producing investment advisories look for when hiring representatives.
The list, in no particular order:
- “The rep is a hunter, not a farmer. ” And not even a combination of the two, as many would suggest as a good fall-back plan if a pure hunter cannot be found.
- “The rep isn’t afraid of the phone.” In fact, the rep loves the phone. They use it as the business tool that it is.
- “The rep didn’t necessarily have financial experience when they joined.” But they had a track record of delivering above-quote sales numbers in a hunter role.
- “The rep was perfectly comfortable with a low base / high commission structure.” Because they know what they’re capable of.
- “It took months to lure them away from a great book of business.” Always the hardest part of luring them away - getting them to leave their book.
- “The rep had a list of outstanding references a mile and a half long.” Important, because salespeople are great at selling themself in an interview, but, sometimes, that’s all they’re good at selling.
If you’re considering hiring an investment advisor for your bank, or if you currently have one or more investment advisors working for your bank who can’t seem to make it happen, then refer back to this list. Go with what’s worked for the best shops in the US.