The Talent Centric Approach to Improving Recruitment

It’s always talent first. Some employers may want to think recruitment is about selecting from the litter, but it’s talent who wears the pants. The driving force behind top organizations is amazingly talented teams creating remarkable experiences for their customers. In Silicon Valley engineers are earning Telsas as signing bonuses, equity offers are publicly listed on AngelList job ads, and TechCrunch is reporting elite talent is choosing Silicon Valley over Wall Street on the basis of not only purpose but also compensation. Talent centric recruitment efforts are not new, but they’ve reach new heights. In 2006, Lou Adler published, “To Hire More Top People, You Need To Become Talent-Centric,” but it takes time for organizations to actually act in the interest of candidates. Until the competition for talent is high enough, why would a corporation spend extra resources to market their employer brand or create a better candidate experience? “Recruitment is not limited to software or processes or money, ” said Lighthouse Principal Analyst Kyle Lagunas. “The number one thing companies demand is more quality candidates. The number one problem for recruiters is attracting high-quality candidates.” Because we are in a talent-centric world, the roles of talent acquisition must evolve. Here are two simple tips to make the recruiting department, the human resources department and the c-suite more “talent-centric.” The talent-centric recruiting department 1. Foster an open door policy Nothing brings in quality candidates like word of mouth. Every colleague is capable of providing the introduction to your next hire. An open door policy can increase the likelihood of turning your colleague into a part time recruiter. Encouraging employees to make referrals is a balance. You want it to be easy. You want the referrals to be relevant. You want them to be compensated for their work. But you usually don’t want them making the referral because of the referral fee. 2. Access the employee network Hire great recruiters. Hire recruiters that have crazy talents extending far beyond recruiting. Because if you are a talent-centric company, the outward facing division of your company better present as talented.  Employees will respect a talented recruiter’s request for introductions because it won’t feel like a favor, it’ll feel like building a great team together. “When you connect people to work they love with people they love, you better build the teams that build tomorrow,” said Laura Bilazarian, CEO of Teamable, the employee referral solution. The talent-centric human resources department 1. Channel your inner “talent economist” Hey HR, I know you have to put out fires. I know you have to protect the company. I know you have to maintain compliance. But remember the first word in your department is “human.” If you don’t prioritize talent acquisition across your decision making, your company’s economy will suffer. “Throw out the historic definition of what makes a great HR leader and get familiar with the term "talent economist,” reported HRonline. “Talent-centric leaders are leveraging data to identify vital talent traits, source more strategically and gain insight into the effectiveness of recruitment and talent-management initiatives. Today's CHRO needs to ensure the organization has the dedicated experts to challenge traditional perceptions of what quality talent looks like and how it's contributing to business results.” 2. Optimize the employee referral barometer The percentage of your hires that come from employee referrals is a great barometer for how talent centric your company culture is. Engaged employees refer friends. If it’s below 20%, your company has serious culture issues and should go see a doctor immediately. If It’s above 30%, your health is good. And if you are above 40% you are elite. And if you are above 50%, you are in McKinsey-I-am-already-winning-the-war-for-talent category. As a frame of reference, employee referrals remain Glassdoor’s top source of hire:

The talent-centric c-suite 1. Value talent over role While much of the company is concerned with filling roles, the C-Suite’s top priority should simply be getting the most talented people in the company’s office. Let the talented people you already hired sort out who does what. Remember the story of Paypal: “Early in Paypal’s existence, the founders – Elon Musk, Peter Thiel, and Max Levchin among them – sat down and made a list of the 20 smartest people each of them knew,” wrote 1871.com. “They then tried to hire everyone on the list. Legend has it that they managed to bring all but 6 people on board.” That means Paypal recruited 54 of the smartest 60 people the founders knew - talk about prioritizing talent in your network. 2. Respect your colleagues Never forget that colleagues own their networks. They choose to create an employment relationship with you, and their willingness to share new business opportunities outside the scope of their job is a privilege. Do not abuse this privilege. When you respect your colleagues, their word of mouth follows. And you will be the benefactor of more quality employee referrals.