Job growth is picking up around the country across multiple industries. At the beginning of 2015, only 164 U.S. metropolitan areas had returned to pre-recession levels of employment, but all 363 areas are expected to see job growth this year, according to a study from IHS Global Insight. The majority of U.S. cities are predicted to see an increase of at least 1 percent. In December, the national unemployment rate fell to its lowest in six years.
If you’re looking to hire new people, how can you manage growth and ensure you’re getting the right people for your needs?
Avoid the Startup Curse
Many entrepreneurs struggle to accurately forecast the job growth and hiring needs for their firms. These organizations may find themselves facing a sudden spike in demand that requires owners to hire new people. To avoid losing a deal, companies may quickly recruit one or two new employees, but this makes them more likely to compromise on their hiring criteria, Entrepreneur magazine stated.
Entrepreneurs need to be able to delegate, and you won’t feel comfortable doing this unless you have employees you can trust. Founders can’t do everything on their own.Rushing to bring in new people without careful consideration can cause more problems. Hiring the wrong people can harm client relationships, and you risk not being able to retain employees after the immediate project has been addressed. It is a challenge to find the right employees when you’re facing a deadline, but it increases your chances for success. In addition, bringing in the right people enables you to give them more responsibility once they have been brought up to speed.
How to Find the Right Employees
The problem that many high-growth companies face is that the best candidates aren’t actively seeking new jobs. Hiring managers are often aware of passive job seekers, employed candidates who aren’t looking at the moment. There’s still a chance to recruit these prospects, but you need to be proactive about it. In addition, potential top performers for your organization likely work elsewhere. Because of their skill levels, they may expect to be approached by other companies rather than looking for a new position.
For firms with a great deal of growth potential, referrals from current employees can be a great source of the best new hires. Great employees likely have colleagues who would be a good fit for your organization, according to TLNT. Google is becoming well-known for its people operations approach, and the company relies heavily on referrals because good people know other great individuals. In addition, LinkedIn can help hiring managers identify top performers. Viewing potential candidates’ profiles can reveal relevant industry awards or qualifications that would make them a good fit for your company. Depending on your industry, online technical competitions or professional learning communities are other ways to proactively identify potential top performers based on their work.
Another method of managing top performers is keeping a rehire list when individuals leave. Did a top performer depart from your organization to pursue another opportunity? You may have a chance to bring them back. LinkedIn is instrumental for this kind of recruiting. Although attracting passive job seekers can be time-consuming, it is worthwhile.
Most companies face a great deal of competition for the best hires, especially in fields that are booming right now, like tech and financial services. Learning how to effectively manage hiring growth is essential for maintaining a strong position in your market. Treating your employees like you approach courting new customer can make a huge difference.
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