What is your hiring strategy?

Check out hiring strategies for your company!

When you employ resources, this comes with several recruitment challenges. Any company, big or small, should use the appropriate hiring solutions to overcome these challenges. This becomes especially critical when we talk of talent acquisition for a startup.

It is very important for talent acquisition teams to design effective hiring strategies to not only overcome recruitment challenges, but to also reduce hiring pain and time. Your strategy for recruitment should be the backbone of your hiring process. This should largely fall in line with the broader business strategy, as it is the employee who drives the business.

Your strategy should allow enough challenges and opportunities for recruitment and should help you with well assessed CVs. Your strategy should be flexible to adapt to and accommodate changing business conditions. It is not enough if you know what a good strategy should do. What is more important is for you to recognize the hiring strategy which your company is using, and to evaluate its merits and drawbacks. Here are some popular hiring strategies followed by talent acquisition teams:

The low-cost strategy: This strategy aims to reduce hiring costs at every stage of the recruitment process. As you know, recruitment is a cost centre. Therefore, every recruiter would want to reduce costs. Using online crowd assessed hiring solution for employers like social media is a good way of reducing expenses. But cutting costs at the expense of the quality of the hire is foolish and dangerous over the long term for the quality of resource pool you recruit.

The best talent strategy: This strategy is somewhat opposite to the first strategy. Here, the criterion for recruitment is to choose the best talent in the industry, even if it comes at a cost. Recruiters should excel in the art of cherry picking the right talent. This strategy, if implemented using inexpensive hiring solutions like hiring via social media, can get you good quality employees.

The creative strategy: An innovative recruitment strategy to be used at every turn is the philosophy behind this strategy. So if a company wants to constantly experiment with the way recruiting is being done, then they are said to follow the creative strategy.

The selective strategy: In this strategy, talent acquisition teams are quite selective in reaching out to the audience. For example, using only specific industry publications to highlight the job is being selective in communication. This will reduce recruitment expenses. But also remember that in many cases, this can also reduce the quality of your recruit, as your reach is limited.

The complex hiring process strategy: Here, companies make hiring processes so complicated, long and time consuming, that it puts off even an interested candidate. This could include a complex application process, lengthy discussions, unfriendly procedures and poor offers.

Not all of the above hiring strategies are designed and crafted in advance. More often than not, a strategy just evolves out of your existing hiring practice and becomes the norm to be followed. This is an unhealthy recruitment practice. It is best if talent acquisition teams sit with business heads to understand the business philosophy and proactively formulate a hiring strategy, which is both beneficial to the company and also helps, the candidate who is applying for the job.

What innovative hiring strategies are you applying for your company? Do share your views.