Recruitment is a necessary process for all businesses. Finding the right people for the right job can be a tricky issue, however if you know exactly what you’re looking for then the experience can be smooth, beneficial, and hugely rewarding.
Many recruitment analysts will say the best time to recruit is in the Spring (March/April) and in the Autumn (September/October), however this is just when the most jobs are readily available as well as the widest pool of people looking for jobs. A lot of hiring is done around the Christmas period, although these are largely disposable roles, with the majority of employees let go as the January slump hits particularly in the retail sector.
Truth be told, only you know when the best time is to recruit. Many business owners fall into the trap of recruiting reactively and in desperation, often settling on a candidate that is just about adequate, or the best of a bad bunch, to fill a role which needs attention urgently. We break down when is the best time to recruit, as well as things to do and look out for to make sure you’re getting the highest quality employees for your business.
Forever Be On The Lookout
As mentioned, many companies choose to recruit based on a position which needs occupying, usually on an immediate basis. Whilst there is a chance that a high-quality individual or individuals will apply for the role, the likelihood is that you will receive many applications from people who are just looking for a job. The common myth that you’re more likely to be hired when you’re employed actually is very true, as employers tend to favour people who are already working due to trust in their abilities and the value they can bring.
It’s important to always adopt the principle of ‘always be recruiting’. Being on the lookout for the right talent to add to your organisation puts you in the best possible position of acquiring the best asset for your business. The chances are they can help you reach your goals sooner. This is why head-hunting and staff referrals most commonly provide the highest longevity in job roles. By proactively recruiting, businesses have a wider spectrum of people to choose from, as well as more time to assess if that person is exactly the right fit for the business.
This can be done in all manner of ways, such as having a section on your business website where people can upload their CVs willingly without a necessary specific job advertised (companies are allowed to keep CV on files for usually 6 months due to GDPR regulations). As well as this, by forecasting and scenario planning it becomes apparent where the gaps are in your business. By starting early and giving yourself enough time to access the largest number of applicants possible, it provides you with the power and control to choose the correct person for the position needed.
Treat Recruitment As An Investment
Many business owners see hiring employees as a mundane task, rather than an investment in their business. If you treat recruitment in the same vein as investing in a certain product or service that you know will take your business to the next level, then the results are likely to be much more successful. It’s very common for businesses to hold off over a small discrepancy in salary demands from a prospective employee, however often it is better to pay a premium to get the right person the first time around. It’s increasingly likely that they will repay that difference very quickly.
Saying that, it’s also very important to take into consideration the correct training plans for a new employee. Some roles will take longer to develop than others and many will need on the job experience and an understanding of how the business works in order to perform to the standard a business owner sees fit. Make sure this is factored in so expectations of people coming in and hitting the ground running can be managed and approached accordingly.
By incentivising your employees, it provides the thirst for them to succeed even more so. By considering bonuses, KPI targets and future uplifts, job satisfaction and the motivation to go above and beyond will become a source of rich productivity for the business. These employees are also more likely to stay long-term, embedding themselves into the DNA of the business, learning new skills and progressing so they become more valuable and bring more success.
Make Sure You Know Exactly What You Want
When employers choose to hire quickly to plug a gap in a fast timeframe, often compromises are met which can be damaging in the long-term. Taking the time to draw up exactly what you want and need from an employee is vital, as not only will it provide a completely clear overview of the role for the applicants, but it gives you an accurate checklist on how to measure the credentials and qualifications for the respective role.
Sticking to these parameters is of course your choice, however not settling on the first person who interests you can have huge long-term benefits. Bide your time and recruit to the best of your abilities, outlining precisely what is needed and what the role should bring to the company.
We hope this has outlined to you the things to consider when recruiting for your business. If you require any further information on our advisory services, or anything accounting related for that matter, please don’t hesitate to get in contact with us at Nordens where one of our trusted advisors would be happy talking you through your query.