Today’s fast paced world means that a company’s success isn’t just reliant on what it sells but also about who makes it happen. Winning companies understand that finding the perfect match for their team involves neatly balancing their ‘must-haves’ and ‘nice-to-haves’ when it comes to recruiting and more importantly retaining the right talent.
Continuously recruiting for tomorrow
One of the key differentiators between winning and failing companies is their approach to recruitment. Winning companies recognise the inevitability of staff attrition and continuously recruit to backfill positions left vacant. They understand that the talent pool is vast, and to stay ahead, they must be proactive in acquiring top talent that enriches their existing team.
On the flip side, failing companies are often left playing catch-up, dealing with the reality of employee turnover as it hits, leaving them to recruit only when the chips are down. Unprepared for the rapid pace of change, these companies struggle to attract and keep talent who bring added value to their teams. Their reactive ‘must-have now’ mindset leads them to approach the wrong market at the wrong time, often leading to poor hiring decisions.
Balancing needs and aspirations
Forward-thinking companies with a strategic focus on retention and growth remain competitive through meticulous planning for both immediate needs and long-term aspirations.
They recognise the agility of meeting immediate requirements by tapping into the expanding Independent Contractor market, which ensures precise skills matching in the fraction of time. At the same time, these companies understand that achieving long-term goals demands an investment in the skills and development of their existing workforce to provide continuous growth opportunities within the organisation.
Understanding the candidate marketplace
It’s key that hiring companies acknowledge the existence of two distinct candidate marketplaces – the permanent and contracting markets.
- The permanent market caters to those ‘wants,’ focusing on culture-fit, aptitude and long-term potential.
- Whilst the contracting market swiftly caters to the immediate and often urgent need enabling access to talent with the necessary skill set, on demand.
Winning companies accept that what they ‘want’ takes time, whilst what they ‘need’ takes no time at all. Knowing the difference and precisely where and how to cater to the need and want is smart, strategic recruiting and a winning formula to stay a step ahead.
Takeaway for companies in a bind: winning companies don’t leave success to chance
Top advice for companies facing a sudden need is to consider hiring an Independent Contractor. For those focused on long-term goals and growth aspirations, the permanent employee market is the right avenue.
Understanding the nuances of both permanent and contracting markets is crucial for making informed and strategic recruitment decisions and will be the key in building strong, flexible, and successful teams.