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Hello!
What are the 5 R's? Refer,
Recruit, Recognize, Reward and Retain.
The keys to attracting and keeping the people that will drive growth
and profitability. We are delivering this brief newsletter to Company
Executives, Managers and Human Resource Professionals who have the
responsibility of recruiting and retaining the best talent for their
organization.
In today's war for talent, it sometimes can make sense to utilize
a professional to attract a high potential "A" player
to fill a key role (remember from our previous issues on what the
wrong hire can cost your organization). A recruiter can be especially
valuable, because the people you are looking for probably are not
looking for you! Recruiters tend to be so generally categorized
today that it appears they are all the same. Actually there are
two basic categories of Search Firms.
Contingent Recruiters: The contingent recruiter will attempt
to provide you a résumé for any job opening you have
and will charge a "contingency fee" of up to 33% of the
candidate's first year's income if that individual is hired. Contingent
recruiters work on commission, and their primary goal is to provide
you with résumés that match your job specs with the
hope of making a placement. They rarely leave their office, and
basically are telemarketing professionals that find candidates and
clients via the telephone. The candidates they represent are many
times unemployed and are usually not "A" candidates. Contingent
Recruiters work on up to 20+ "openings" at a time, rarely
meet the candidates in person, (they may check references) but primarily
sell candidate "skills" without much regard for your culture
fit. In addition, the more you pay a new hire, the higher the employment
fee and commission to the recruiter.
Retained Advisor:
These professionals approach the recruiting process from a completely
different prospective. Retained advisors represent you, not a job
candidate. You have hired them as internal consultants, much like
your CPA, Business Attorney, or Insurance Professional. The Retained
Search Consultant should meet you personally, tour your business,
assist in developing a job description with core competencies, source
employed individuals who have the necessary skill sets and personally
screen them for the culture fit. Personality testing,
multiple references, and background investigations should always be
part of their process. Most importantly, you get professional assistance
in hiring the best job fit and improving your businesses productivity
and profitability. The service level is high, and the cost is considerably
less than the commission paid to a contingent recruiter. The ability
to act as your representative and sell your business culture to high
potential individuals is a skill that makes your Search Consultant
a very valuable member of your team!
Qualities to look for in Search Professionals:
- Business management knowledge and experience. Do they understand your business,
the economy, geographical and political environments?
- Have they visited your business? Talked with your executives? Do they
understand your products, competitors, markets and culture?
- Are they skilled in the recruiting process? Do they use sophisticated
technology tools in sourcing, on-line
personality testing and background checks
to find and select qualified candidates.
- Do they have integrity, ethics, and a reputation for serving clients well?
Conclusion:
Choose all of your business advisors very carefully! A committed client
server will take personal interest in your success and consistently
add value to your organization with his/her skills!
Read a good article on Employee Referral Programs
http://www.cen-chemjobs.org/employer/chemhr/SepOct03/erps.html
Oh, by the way... Cutting Edge Information’s financial services "recruiting and hiring
report", concludes companies that demonstrate more technologically
effective hiring systems also ranked higher in financial performance,
productivity, quality, customer satisfaction, employee satisfaction
and retention". The report examines strategies used by financial
companies to identify, hire and retain talented employees. If you
read our newsletters regularly than you know this is simply re-stating
the obvious!
Thank you for subscribing to the 5r's Newsletter. This is an opt-in
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We appreciate
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Thank you.
Tom Hamilton Jr., President.
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This edition sponsored by: The Hamilton Group of Companies
The Hamilton Group consists of HR related organizations specializing in helping employers find, select and retain top talent.
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Executive Search Service
We are the most experienced search firm in the state of Iowa recruiting Executives & Leadership Personnel. We are your business consultants for hiring Leaders... more
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Online Employment Testing
Easy, consistent and very predictive. A cost effective, legal and valid on-line assessment requiring no administration, grading, or annual fees... more
Online Background Checks & Drug Screens
Employers & Landlords have a quick & inexpensive way to order drug screens, search criminal, motor vehicle, education, sex offender, credit, & SS# trace etc... more
Online Employment Applications & Screening
Effective hiring utilizing patented screening technology. Ideal for handling large volumes of applications. Saves management’s time and reduces hiring costs... more
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AgRecruiter
Specialized recruiting for the Agriculture Industry. We provide you with access to people you can't find through any other resource... more
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Software to Manage Employee Referral Programs
Utilize Referral-Trak* Software to improve employee referral program performance, simplify administration and lower your cost-per-hire... more
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