Hiring the right candidate for your business is of vital importance. Here's how to get it right.
When it comes to attracting talent, being able to recruit a candidate who is right for your vacancy is harder than it looks. Hiring is big business within the UK: it is a sector that was worth £35.1bn last year, spread across more than 9,500 companies- and for good reason. In today’s competitive industry, finding somebody who can provide a positive contribution and ROI for your business is of paramount importance, especially when making a bad hire can cost a business not only money, but staff morale and reputation.
With two thirds of recruiters confessing that they had lost money on bad hiring decisions last year, it’s crucial to have a comprehensive strategy in place to make recruiting easy and efficient for clients, companies and agencies alike.
This is exactly what IDEX’s Four-Step Methodology offers. Developed in order offer both consultants and clients a clear framework on how a successful recruitment process should be conducted, the Four-Step Methodology has allowed us at IDEX to create a trusted system that produces results every time, matching candidates to their ideal jobs- and vice versa.
Composed of four separate elements, the Four-Step Methodology works to ensure that businesses find a quick, efficient and successful way of matching the perfect candidate to the vacancy they’re advertising for.
Here’s how it can help you.
An in-depth knowledge of which candidates will suit your business
To ensure that both consultant and company are clear about what is expected from the role- and the candidate- at hand, IDEX conducts an in-depth Insight Process to determine the business’s macro-level objectives. This generally consists of their culture, business needs and growth plans. To ensure a good match between client and candidate, it’s vital that we understand the business’ aspirations, so we can match it with the client’s aspirations: for instance, if a company has a three-to-five year growth plan and wants to expand its market offering, then an ambitious, innovative candidate should be targeted.
After this, IDEX examines the objectives of the vacant role: what targets will the recruit have to achieve, and which market sectors will they work within? What are the ultimate objectives of the role at hand? After all, given that the result of a poor cultural fit, employee turnover costs 21% of an employee’s annual salary, it’s important to clearly understand the role so we know what message to send out and which people to target.
Once we understand the needs of the company and role, we can then work on Attraction, providing a campaign that can be tailored to fit a business’ needs: if it’s covert, then using strategies like referral gathering or head hunting will be deployed; however, if a company wants to pursue a high-visibility approach then we will create a Search and Selection strategy that involves sending emails to our database, creating a dual-branded advertising campaign and advertising on our website.
When working with Retained Solutions methods, this also has the advantage of delivering a clear, consistent message to candidates and preserving the client’s brand as a result: important in an industry where 69% are likely to apply for a job if the employer actively manages its employer brand before even applying for a job.
Not only does this then provide a list of well-suited passive candidates, but it allows us to move onto the next stage: interviewing and deciding on a short-list with our client.
Advice and expertise
Deciding which candidates are best suited for the role is all about creating a bespoke Selection process that achieves the right results for both candidate and client. With years of experience in the recruitment industry, IDEX offers companies guidance and advice when it comes to choosing the perfect match, especially if they have no senior-level hiring process.
We always advise our clients to conduct attitude and aptitude tests to determine with the candidate is a suitable fit for the organisation’s aims and values, as well as Psychological Profiling, which will provide the employer with information about the candidate’s behaviour and aims. Finding a good cultural fit is just as important as finding somebody with the right experience, and we make sure that companies have whatever Selection process they need in place to provide them with the best candidate.
A 98% Retention rate
Though an in-depth and well-structured Insight, Attraction and Selection process will result in a recruitment strategy which has a high chance of succeeding, we pride ourselves on the Aftercare we deliver to ensure that the new recruit settles quickly and painlessly into their new role. Speaking to candidates on a monthly basis means we can ensure the new employee is satisfied; if they have specific areas or skillsets in need of development, we can also offer training and development programmes that complement their needs and help them to grow: all of which lead to our prized 98% yearly retention rate.
In an increasingly competitive job market- and one where the unemployment rate is at a historic low- our recruitment strategy provides both clients and candidates with an effective, time-efficient way of matching professionals and vacancies in a way that produces consistent results.
By lending our expertise to the hiring process, and by keeping our candidates fully informed at all stages of the recruitment process, we ensure that our methodology gives both clients and recruits the tools they need to thrive and grow, creating a solution that works for them.
Watch our video below to find out more about our unique methodology.