“FISHing” for the Perfect Employee

The news is out.  The secret has been leaked. Companies are having a hard time finding, recruiting, and retaining capable, talented employees to handle their business.

If you haven’t heard that one, you’ve not been paying attention.  Some organizations see employees moving around from one company or firm to the next. But, new talent (fresh blood?) hasn’t come into some industries in significant numbers.  It’s also no secret why: Unemployment was at an impressive low, averaging 3.6 in 2019.  Unfortunately, due to Covid-19, unemployment soared past 14.70%. According to a recent Kiplinger forecast, a full recovery isn’t expected until late 2021. Finding the perfect employee is more important than ever. 

You’re not alone, either. Every industry is having the same struggle.  Competition for good employees is fierce, and many organizations have to catch up! A lot of companies are in a DO or DIE situation, and I’m not talking about the hard market, which will seem easy in comparison in a few years. Companies must decide now that they will be ready when so many jobs are vacant! 

Some industries have been slow to adapt to many things. (Think multigeneration recruiting.) But companies really can be ready for this, if we just try to think long term and be a little less rigid about how we do things. This article will attempt to show you a strategy that will move companies in the right direction.

First, there are some unilateral truths to hiring.  The latest information shows us that   Millennials want different things than Gen Xers and Boomers or the “me” generation.  HR Daily Advisor has done an outstanding job detailing this phenomenon in their publication “Generational hiring: wants, needs, and everything in between.” I won’t re-state their data. But realize this: whether you like it or not, Millennials are our future!

Flexibility has not been a strong suit in a lot of organizations.  I know, I’ve been working with many of them for 30 years!  They must learn to be flexible. Companies must hire people, not just fill jobs.  What is the difference, you ask?  Read on.

We better start thinking long term, which has also not been a strong suit for many.

The most important order of the day is this: How to keep the good employees you already have?

Remember, the cost of turnover is very high.  It’s common knowledge that turnover can cost 2-10 times the employee’s salary.  More importantly, the impact on morale of remaining employees when a good worker is lost cannot be measured! Employees who have a high morale are more productive. Again, that part isn’t new news, is it?  But what are you doing with all this information?  What are you doing now to keep the best employees you’ve got?  Will they still be around in 2025? 

Do you know what will be needed in your office 5 years from now?  How solid is your long-term business plan?  If you are to have a full staff when the entire country is hiring workers again, you need to start getting ready today. And the single most important thing you can do is keep who you have now on your payroll and keep them happy.  If you want to know more about how to do that, ask them!

This mind-set is different for most employers.  Haven’t we always been able to pick from the cream of the crop? I’ve even heard the comment that if I died at my desk they’d just roll me out of the chair and put in the next person.  One of my early career bosses actually said that to me.  You can imagine how wonderful my morale was that day.  But one of the unique features of the human brain is how well it adapts.  So, we begin by asking ourselves lots of questions, and the answers will tell the tale!

In order to find good candidates, you must FISH: FIND, INTERVIEW, SELECT, HIRE. 

(Look for PART TWO of our series — FIND)