If you’re in a hiring position then you have likely realized that the war for talent has been fully waged. Whether you are the winner or loser of this war is probably yet to be seen but before gearing up for a full scale battle, it’s critical to understand the value of a long term strategy. For the purposes of this discussion, we are going to talk about how a strong bench of talent can be the difference between a triumphant victory and a devastating defeat.
OK, theoretical analogies aside, let me get to the point. As an entrepreneur/employer who hires for three rapidly growing companies and a as recruiter who facilitates the needs of hundreds of other organizations I rarely see companies suffering from the problem of having too much talent at their disposal. More often than not, and especially in market conditions such as today where client rosters are growing faster than in previous years, employers are forced to be reactionary in their hiring. Let’s face it, when you’ve recently closed the largest deal in company history and the pressure is on to deliver, over-paying for talent can seem like a situational no-brainer. Maybe it is in that given situation but let it happen again and again and the tendency can become organizationally habit forming. No matter how challenging today’s hiring conditions may seem, take a deep breath, meditate for a moment, and realize something very important. It’s only going to get more difficult.
Take a minute. Digest it… Wait…
OK, now that we’ve accepted this realization we also must acknowledge that today is the best and easiest time to adopt a proactive outlook on the war for talent and do all we can to ensure that a lack of prospective employee surplus, as we’ve all come so used to having, doesn’t hinder us from capitalizing on a hot market. So…
Why fight for talent when you can simply create your own?
This notion does carry with it some kinda sorta “fantasy camp” connotation if taken literally but it does give us something to shoot for. You need to ask yourself the following question: What is the primary product that my organization creates? Answering with something such as “cars” or “computers” or “power tools” or other types of goods and services is a completely normal response but it also needs to change. In my opinion your organization’s #1 priority product is “talent”.
Think of it this way:
You create talent and the talent creates your products (or services of course).
Investing heavily, whether in terms of time, money, or both, in training will empower you to create and sculpt the kind of talent you desire. Ever heard someone say that they’re willing to train the right people? Me too. However, you rarely hear people say that they are invested in and committed to training the right people. Being that organization empowers you to hire the right people, get them up to speed on your terms, and build the teams that you want.
It’s also important to consider a couple of things before over-paying for talent and putting your training investment on the back burner. First…
“Hit the ground running” is a myth.
While there are exceptions to every rule, the majority of the time there is no such thing as “hit the ground running”. Wanting someone that can hit the ground running more often translates to wanting the psychological safety net of hiring someone with more of the keywords in their resume and background. At least this way you can point back and say it was a smart hire due to their experiences. Regardless of someone’s education and/or experience, there is always training. If they are a programmer with an expertise in Java, they need to learn your way of utilizing Java. If they specialize in a certain ERP system, they need to learn how your company leverages that system. They also likely need a fair amount of un-training because the way they used to do things back at XYZ, Inc. is probably not your way of doing things. Most of us have also probably realized that there is certain hindering psychology of starting over that, while creating eagerness and excitement, can make people feel guarded and fearful of making mistakes. This inevitably slows their production and decision making abilities until they are fully versed in your organizational structure and philosophy. I have employed many people and have almost never witnessed anyone hit the ground running. Jogging maybe but not running.
What is the right person?
This is question that you need to ask yourself but experience has shown me that this person rarely looks like the description that’s been crafted for the job. Sure, many jobs require certain skills and competencies but most of the time the right person is realized when they’ve been seen. For those of you that have ever shopped for a home, think of your initial criteria before your search started. 3 bedrooms, 4 baths, custom kitchen, etc. Now look back on the home that you bought. Did you buy it because it matched 9 out of 10 on your list or did you buy it because you loved it? This is all to say you need to be willing to look outside the normal description of the job and be willing to meet with people from varying backgrounds. When evaluating potentials think about intelligence, energy, potential, delivery, “it factor”, and other intangibles. Take some chances on hiring the Best Athlete and have the mechanism in place to train and elevate them to their fullest potential. The “right person” typically has the highest ceiling. It’s just up to you to get them there.
Be willing to hire when you’re not hiring.
Think of acquiring and developing talent as a mission critical priority that doesn’t go away. Even in the darkest of economic times, I can’t remember ever saying that we “aren’t hiring.” We’re always hiring because we’re always willing to identify and invest in our #1 most important company asset – our people. Now, does this mean that you’re committing yourself to hiring anyone and everyone all the time? Of course not. What it means is that you are doing all you can to instill an organizational modus operandi that values the acquisition of talent as it would another responsible investment. Ignoring these opportunities can be damaging as other organizations, such as your competitors, will have the willingness to bring this talent on board absent of a hiring directive.
All of the above isn’t meant to be all-encompassing (my little disclaimer) but will hopefully get you thinking in challenging and disruptive directions. Good luck in your battle!
About BANKW Staffing
Through its portfolio companies, KBW Financial Staffing & Recruiting, Alexander Technology Group, The Nagler Group, Sales Search Partners, and KNF&T Staffing Resources, BANKW Staffing, LLC is the leading regional provider of temporary and direct-hire staffing services in the areas of finance, accounting, information technology, office and administration, legal, human resources, and sales.
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