Strong Hiring Strategies in a Weak Economy

During economic rebounds it is essential that companies acquire or retain high performers to thrive. Right now, companies need top-tier players in order to perform at optimum levels. The question is, “How do you get those players?” Perhaps you already have them on your team. With intentional training and effective leadership to motivate them, you might witness even greater productivity and creativity from these key players.

However, this also might be the time to look outside your company for fresh talent and experienced wisdom.  If you haven’t already, restructuring your hiring strategy can bring you the high performers that your company needs to survive.

1.  Be Patient

Take time with your hiring decisions. Build a plan for the time it will take to find the right candidate you are looking for.  Securing a top-tier performer for your position may take time as you communicate with the candidate and develop the position into the right opportunity.  The good news is that in this economy higher-end applicants are more accessible, but recruiting them may be tougher than you anticipate. A-players are hesitant to make a move in a down economy. If they are truly an A-player, they will ask about the financial situation of the company. The opportunity will attract them only if it aligns with their vision for success.

2.  Define the Process

Develop a process for hiring. The biggest mistake most companies make is having only one or two interviews and rushing to a decision. To make the right hire, your candidate needs to be introduced to the entire team. Senior management, managers, and potential co-workers are an important part of the hiring process. They need to be able to elaborate on their vision for the role and offer insight as to how the candidate will interact at all levels.

Once everyone has had an opportunity to meet the prospective candidate, you must decide how the information will be processed. Create a plan to gather the feedback and rate the candidate based on each member’s meeting. Again, your existing A-players will expect to understand how the prospective role will interact with the organization.

It’s not always an easy process, but thoughtful preparation pays off in the long run. My goals when I work with my clients are to create a realistic timeline, prep the interview team, and develop a clear career path in order to win the candidate for hire. This process promotes open communication internally as well as with the prospective candidate and establishes clarity for all involved in the hiring process.

3.  Make the Call

Who will make the final decision? Too often, I consult with companies who have made poor hiring decisions, and it ends up costing them 1.5-3.0 times the salary for the position.

Jack Welch has said, “Hiring great people is brutally hard. New managers are lucky to get it right half the time. And even executives with decades of experience will tell you that they make the right calls 75% of the time at best.”

At least twice a week I speak with clients that have wasted time and money on a process that was not successful. It’s painful to let the new employee go and face the hiring, onboarding and training processes all over again. (It’s also expensive.) To make solid decisions you need to base them on verifiable information. Game changers will have the testimony of references, test scores, background checks, and a proven track record to verify their value.

4.  Consider Contract Employees

After careful consideration, you may decide that you are not ready to hire. More and more companies are turning to contract employees during this rebound time. Several advantages come with contract workers. First, you have the ability to manage expanding headcount by bringing in a more talented workforce on an as-needed basis. Second, contractors can bring a specific skill set and diversify an environment with outside ideas. A contract worker is also immediately available and can quickly fill a void.

5.  Make an Offer They Can’t Refuse

Should you still decide to hire, and an  A-player has been identified, the company must put together their best possible offer. When my clients are struggling to attract top talent and salary is an issue, I suggest they offer other forms of compensation. There are a variety of possible solutions, but a lot of the compensation packages we put together include additional vacation time, flex time, 4-10 hour day work weeks, and remote access. Candidates find time to be an attractive selling point as it allows for a better work-life balance.

Tough economic times are the perfect time to re-model your hiring strategy.  You have the opportunity right now to acquire top-tier talent that was previously unavailable. A company with high-performance employees can thrive in any economic situation. Most importantly, if you build your strategy around acquiring and retaining these game-changers, you can have the team required to press through these times and lead new employees when the recovery begins.

Courage to Connect

Today’s economy is downright intimidating. Job cuts, businesses closing their doors, decreased donations for non-profits, and an unstable market can make us nervous. This might breed fear and self-focus as we work to survive this economical downturn.

But what if rather than responding to this situation with greed and self-interest, we respond with generosity? What would happen if we maintain and express a sense of compassion for our network of connections rather than focusing on our own problems from 8 to 5? Yes, our own issues need attention, but part of surviving this difficult time is to create and develop business connections that resonate. In order to do that, we all need to step outside of our individual microcosms…and connect.

Recently, I read Tim Sanders’ Love is a Killer App. Although it was published in 2002 (another turbulent time in our economy), Sanders’ generosity-based approach clearly rings true in 2009.

The Love Cat Way

Sanders asserts that the way to make it in this business environment is to become a “lovecat.”  A “lovecat” is an individual who readily shares three things: their knowledge, their network, and their compassion.

How do you know if you have met a lovecat? Easy. Lovecats are people in your business circle that you look forward to spending time with. These cats have a passion for learning and for sharing what they learn. They introduce you to people that can help your current problem or situation, and they ask for nothing in return. A lovecat connects with you.

The New Differentiation

In the new economy, people have hundreds of quality choices for every product/service. Quality is no longer a point of differentiation; it is a given in order to compete.

The new way to distinguish yourself is to connect with your customers and your network at a deeper level. Bring value to them each time that you speak with them. You will have their attention when they know you are offering them more than a product/service. You will be offering understanding of their business and their highest needs. You will be more than a parasitic vendor…you will become a partner.

Here is a brief overview of the three primary characteristics of a lovecat.  You can utilize these resources in order to be more effective in connecting with your customers:

Knowledge

Gather knowledge through voracious reading. Absorb what you read. Look for opportunities to share the knowledge you gather with your contacts. Be generous with your intellectual capital.

Network

“Your network is your networth,” says Sanders. Build your network and find an efficient way to organize it. Introduce your network to one another as you discover points in which individuals can help each other. Ask for nothing in return.

Compassion

Take a genuine interest in others, and let them know it. Many of us are uncomfortable with this aspect of our lives in the marketplace, but it will differentiate us. Be the contact in your network’s life that is interested in them. It seems counter-intuitive to a generation that has been taught to generate interest in themselves or their product to succeed, but in this new economic environment, it is vital. Smallness of soul will always lose when compared to the grand nature of true compassion. Even in business.

Lovecat Exposed

As I read Love is a Killer App, a memory began to run over and over in my mind’s eye. I used to office with one of our top salespeople. This woman is a firecracker, and everyone likes her. She is smart, kind, energetic and positive. She is a true lovecat.

In 2008, when lay-offs began to hit the Dallas area, I heard her on the telephone with one of our many former clients-turned-candidates. This man had been laid off because of a slowing economy, and he knew that it would be difficult to find a position as things slowed down even more. This was a man we exchanged knowledge with on a regular basis. Our relationship was carved from shared experience and genuine compassion.

Our salesperson, without hesitation, opened up her list of contacts for this man. She made every effort to be there for him in a difficult time. It is a compliment to be one of the first resources that this man came to and the future returns have great potential. Think about it: Who will he send his next outstanding out-of-work contact to? When he is repositioned, who will be his first choice in staffing? Not only do we have a true believer walking the streets, but we have a genuine connection that views us as a resource.

It is an ancient principle: Love your neighbor (contact) as yourself. Focus on the customer rather than on the money they can send your way. Embrace the power of giving without expectation. The return on your investment will both surprise you and benefit your business.

Tabitha Woods is Marketing Coordinator for Delta Dallas.

The Leadership Challenge Today

What we need today are LEADERS! Whether your role is CEO, Vice President, Director, Manager or Supervisor, in this challenging economy, your people need your leadership more than ever. They need your vision, inspiration, commitment and honest feedback.  They need your best every day!

When I came to the DFW Metroplex in 1984, I didn’t know we were in a recession. All I knew was that I was in a new city, in a new career, and I was faced with endless opportunity.  I quickly became a leader in our organization.  Why?  I believed. You could say I didn’t know or I didn’t listen, but more importantly I believed in what we were doing and the growth opportunities ahead for all of us.

So 25 years and at least four recessions later, we are once again in a similar economic downturn.  Products and services are harder to sell.  You are expected to accomplish more with less people and resources than ever before.  However, your role as a leader is to lead your team through this challenging time and assure them that success is possible even in this economy.  You are their leader.  Whether chosen, appointed or elected, you are the leader. What should a leader do during tough times? Here are 6 Qualities of a Good Leader to keep your team motivated and inspired even during tough times:

L - Look around, walk around. Get out of your office and off your computer!  If the first thing you do every day is go to your office and log on to your e-mail, STOP!  It will wait.  Most of us get our e-mail on a PDA so there should be no hurry.  Walk around and talk to your employees.  Find out what they are working on and if they need help.  Know what is going on in their lives besides work.  LOL - Laugh out loud! Tell a funny story or just see the humor in life.  Keep a smile on your face, and it will make the atmosphere lighter for everyone.

E – Energy – the Pace of the Leader is the Pace of the Pack.  Do you ever wonder what is going on?  Why is everyone dragging around?  Look in the mirror.  What are you doing each day to motivate the troupes?  What example are you setting with customers and co-workers?  Do you approach every day with a sense of urgency, with a plan and an enthusiasm for life even during hard times?

A – Attitude – the Best is Yet to Come! Did you or your company have your best year ever in 2008? Are you worried about 2009?  Yes, an understanding of reality is important.  Having a good attitude means that you still have hope and vision for the future.  It doesn’t mean that you disregard what is happening, but that you lead the way with a great attitude, hope and expectations.  You are not giving up, and you really believe that getting through the tough times makes us stronger.

D – Determination, Perspiration & Inspiration – Don’t ever let them see you sweat! It takes daily commitment, daily example setting, daily hands-on interaction to lead a team during tough times.  Identify the vision.  Communicate it visually and verbally in order for them to see your optimism.  Find ways to set the example every day.  It might mean calling at least one client everyday just to say, “Thank You” or taking the time to meet with one employee everyday to give them reinforcement of how they make a difference in the organization.  Get involved!

E – Engaged – Engage your Team. Take time to listen. Sometimes people just need you to hear their concerns.  You may not be able to change the circumstances of today, but letting people know you care and have their best interests in mind will help them focus on the job and not their worries.  Have focus groups, and give your team projects that inspire them such as creative ways to provide value-added services to your customers or identify opportunities to give back to the community through non-profits.  Get creative!

R – Relationships – Employees and customers want friends they can trust.  If you haven’t read, How to Win Friends and Influence People by Dale Carnegie, do it now.  People want to work for and with friends, and your role is to influence people to trust your ideas and directions.  At no time is this book more appropriate than now.  People need strong, influential leaders that they can trust.

Do not just “manage,” but choose to lead.  What is the difference?  We manage budgets, time and e-mail; we lead people with vision, inspiration, enthusiasm, commitment and attitude.  Tough times call for strong managers who are strong leaders.  It is time to lead your team!

Note:  Do you and/or your managers have the skills they need to lead through these tough times? Make sure managers have the tools in their tool belt to be the best leader possible.  For more information about Leadership Skills for Tough Times and other resources offered by Delta Dallas click here.

Also feel free to contact Yvonne Abel, SPHR, 972-788-2300, yabel@deltadallas.com.

TIPS to hiring A Players During Tight Economic Times

In today’s market companies are wanting to do more with less.  Selecting the type of “A” Player employee that can help grow your business as well as contribute in a variety of ways is a hot topic for business leaders today. Not only are the concrete skills and abilities of an employee critical to success, soft skills are what companies are finding make the difference between the “A” and “B” players.  Below are TIPS for success in 2009 to increase your ability to attract the stars.

Guidelines to Hiring:

Do not Settle -  “A” players are out there. Know what are “must-haves” for the position and stay true to your expectations.

Beware and investigate -  Due diligence with information gathered will separate the truth from perception of the truth. Do not take everything that the candidates say at “face value.”  In other words, it is very easy for candidates to fall back on “lay offs” or “reorganization” or “downsizing” as reasons for leaving, thinking that hiring authorities will not verify.  It is your responsibility to confirm the details.

Time kills deals – “A” players do not last long in any economy, and companies who are ready to get what they want are making timely decisions and not thinking twice.

Sell the Sizzle – “A” players are being pursued by multiple opportunities, and you have to be competitive in presenting why they should come to work for you. Be prepared to answer questions that include: What makes their position impressive?  Why would someone want to work for their company? What sets you apart from their competitors?  You need to be passionate about the company and give the “A” players a reason to pick you and your opportunity.

You get what you pay for – Be prepared to be competitive with your “A” player candidate in terms of compensation, benefits, job responsibilities, and role within the company. Companies need to realize the investment that they are making today will serve them well in the future. Yes, companies are being fiscally frugal, but cutting cost with a potential of higher returns is not a recommended strategy.

What To Look for in an “A” Player:

Be open minded to the definition on an “A” player – Consider core strengths and well as experience to evaluate how the candidate will impact your company. Looking outside of the normal mold of the job description when reviewing resumes of candidates can present great potential.

Commitment to success and positive thinking – You want to hire an individual who has a natural inclination towards personal excellence and determination towards problem solving

Ability to wear different hats – Select candidates who can contribute to your company in multiple ways.

Right “FIT” for any job means having core characteristics – Company culture encompasses various facets that can make or break the employment relationship . Energy level, communication style, problem solving ability, past behavior in the work place, occupational interests, and way of thinking and doing business needs to be addressed in identifying “A” players.

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