Your talent acquisition strategies define a broad, long-term approach to fulfilling organizational needs. An efficient hiring budget depends upon a forward-thinking strategy that continually gathers analytics. Data-driven course corrections can make each new round of hiring simpler than the last.
The right positioning will attract the attention of a top-tier tech talent pool, even when you don’t have specific roles to fill. This way, when the time comes, you’re ready to grow quickly and acquire talent that will be motivated to grow with you.
The talent acquisition strategies below will minimize churn and maximize efficiency for companies that need to build new teams or scale up rapidly.
4 Low-Churn, High-Volume Talent Acquisition Strategies
1. Five-Year Growth Targets
Establish and consider defined expansion goals for the next 5 years. Your organization’s long-term objectives should be at the very heart of your talent acquisition strategy. Niche, competitive markets like technology need to beat out other employers for a limited pool of talent with highly specific skills. This isn’t easy to accomplish with ad hoc recruiting.
Get a handle on where you intend to grow and what skills you’ll need to advance the actual hiring process. This gives you time to work on broader marketing efforts to position your brand to attract the right kinds of people. Want to grow into the continental European market? Network with overseas clients and adjacent businesses before you do. Work on messaging and imagery now that will associate you with a regional or international experience by the time you need it.
2. Internal Referrals
According to SHRM, 96% of companies with 10,000 or more employees (and 80% of those with less than 100) say referrals are their #1 source of new hires. It’s perhaps not surprising—the talent you’ve already hired and love to work with are highly likely to know more folks like themselves. This truth cannot be overlooked.
Referral incentive programs should be an incredibly high priority in growing organizations, yet many companies offer employees token “bonuses” of a few hundred dollars for a referred hire. The same companies are willing to pay tech hiring firms many times that amount for the exact same role.
To truly maximize referrals as one of your talent acquisition strategies, it’s critical to offer real incentives. The investment will pay for itself since it targets what we already know is your single best opportunity to find the right talent.
3. Prioritize Cultural Fit, Not Just Technical Skill
In technical hiring, we don’t focus nearly enough energy on cultural fit. New hires are people, not just skill sets. Team chemistry and fit with your company culture are critical to retention in an industry with a 13.2% turnover rate (more than any other business sector—even retail comes in at 13%).
There are many ways to approach this issue in your talent acquisition strategies. Deloitte recruiters decided to attend a hackathon, with the rationale that participation in these events requires great interpersonal skills in addition to technical ones. This is an exciting idea, although it’s not easily scalable.
Carbonado utilizes robust personality and motivation assessments designed by expert business psychologists. When compared with cultural baselines collected from your own team of top talent, these metrics go a long way towards ensuring longevity and job satisfaction.
4. Invest in AI and Machine Learning
Tech hiring demands tech solutions. It no longer takes a full-time data analyst to manually tabulate and analyze metrics around your talent acquisition strategies. Intelligent, AI-powered sourcing engines use machine learning to help your staff prioritize and adjust strategy for the best possible results automatically.
Our proprietary AI engine at Carbonado, for example, uses machine learning to improve over time at finding candidates that match the unique technical requirements and cultural traits of your organization. Keyword searches on LinkedIn Recruiter are rudimentary at best and result in high churn rates at worst. The most effective tech hiring strategies take advantage of the sophisticated tech we now have at our fingertips.