Time to Read: 2 minutes
Top employers are facing a perfect storm in the fight for talent. Unemployment is at its lowest rate since 2009 and job openings have increased by 73 percent. At the same time, Baby Boomers are rapidly retiring and new college graduates are significantly lacking the skills businesses are seeking. And if that isn’t enough, at least one third of the existing workforce is ready to quit. (Bureau of Labor Statistics)
Make your life easier, and make your company more successful. Smart leaders don’t recruit the best people, they attract them. Why? Because it makes their lives easier and their companies more successful. How do they do it? They have a clear purpose for existing (PFE), and they live it and tell the world about it… And the best people come to them.
The success of attraction is based on two principles. The first is a basic tenet of life: Like attracts like. In any animal or human culture, subgroups are composed of individuals with similar characteristics. A leader who defines his/her company’s PFE is saying, in essence, “We are zebras. If you, too, are a zebra, come join us.”
The second principle is that the best and the brightest people seek more than just a paycheck from a job; they seek fulfillment of their own PFE. They seek companies whose PFE supports their own. In certain industries, labor shortages will likely occur again later this year. The repercussions will be felt in lost opportunity costs as companies can’t find qualified talent to serve their customers or to fill open positions. Total costs to replace a skilled manager can exceed 150 percent of the person’s salary. With over 50 percent of salaried people planning on moving as jobs become available, this cost will be substantial for many companies. Thus, the opportunity to attract the best people, as well as keeping the right people, becomes more relevant.
Take Three Key Steps
To attract the best candidates, follow three key steps.
By following these three steps, you approach hiring in a new way. Creating awareness about your PFE and then interviewing people attracted to the company will become the norm. Once you start taking these three steps, if you have to work hard to recruit someone, you are likely trying to get the wrong person. Make your life easier, and make your company more successful. Don’t recruit the best people….attract them.
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