Recruiters need to recognise they’re facing an existential threat when it comes to sourcing and hiring active candidates. On one level, automation is rapidly identifying candidates ready to look for jobs and matching them with the most appropriate opportunities. In addition, hiring manager do-it-yourself (DIY) models are now starting to appear. Both trends will accelerate and minimise the role of recruiters for anything other than administrative and transactional purposes.
However, these driverless and DIY trends will be less useful for attracting high-quality passive candidates who are only interested in changing jobs for true career reasons. This is the reason I advise recruiters to shift their efforts to using a high-touch consultative recruiting approach like Performance-based Hiring because it generates higher quality of hire and will give you better results.
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Now, it’s hard to follow this method when you have 15-20 heads to recruit, which in my opinion is a clear indicator that a company is more interested in efficiency and cost metrics than quality of hire. But, The ROI of a great hire is more than 1000% when you consider the increased profitability generated over multiple years to the modest one-time marginal cost increase required to hire the person. However, it takes a visionary talent leader to make the case and skilled recruiters to deliver on the promise.
At LinkedIn’s Talent Connect 2016, I presented a high touch process for sourcing and recruiting top tier passive candidates. As part of this, I briefly mentioned the following five high touch recruiting skills as critical. Here are some more details:
1. Offer a 30 percent non-monetary increase
Early in a conversation with a passive candidate, I suggest the only reason the person should change jobs is if it offers a minimum non-monetary increase of 30 percent in comparison to his/her current job. The 30 percent is some combination of job stretch (a bigger job), more rapid growth, more impact and a more satisfying mix of work.
One recruiter at Talent Connect came up to me and thanked me for describing this approach in The Essential Guide for Hiring and Getting Hired. By using it he is now able to double the number of passive candidates who agree to engage in exploratory discussions.
Lou Adler is the CEO and founder of The Adler Group – a consulting and training firm helping companies implement Performance-based hiring. Lou is also the author of the Amazon top-10 best-seller, Hire With Your Head (John Wiley & Sons, 3rd Edition, 2007) and The Essential Guide for Hiring & Getting Hired (Workbench Media, 2013). He is one of the top contributors on LinkedIn’s Influencer program, writing about the latest trends in hiring, employment, and recruiting. His articles, quotes and research can also be found in Inc. Magazine, Business Insider, Bloomberg, SHRM and The Wall Street Journal.