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Is it time to refresh your company’s recruiting and retention plan?

Is it time to refresh your company’s recruiting and retention plan?

Matt Massucci – Managing Partner & Co-Founder

Crucial to the success of hiring and retaining great talent is having a great company recruiting plan.  If your business is expanding, or has plans to do so in the future, it’s time to create or review the existing recruiting plan.  Below are the some recommended issues to consider and questions to ask your Human Resources and/or recruiting departments.

Recruiting & Hiring:

  • Have you formalized your Recruiting Process and Hiring Plan?
  • Is there an employee referral program in place? For help creating a great referral program, check out these 6 tips from Hirewell's partner
  • How does your candidate experience compare to the top firms in your industry?
  • Who writes job descriptions?  Would you apply to them?
  • How do your salaries stack up?  Has the compensation for the openings been benchmarked (on level, function and location) in the last two years?
  • How do the benefits stack up to other top firms in your industry or location? Do employees have reasonable flexibility on where and when to perform their work? (Today’s workforce, especially millennials, tend to value benefits and culture over pay. Check out these five practical strategies to recruit millennials for help reaching this group.)  Keep in mind that a few low-lost benefits go a long way in recruiting and employee satisfaction. Check out this infographic: Attract and Keep Top Talent With These Cost-Effective Perks
  • Who conducts the interviews? What questions are candidates being asked? Check out Interview questions to help you find your next HR leader for some ideas.  
  • Are your interviewers looking for experience or culture fit first?

Retaining Your Workforce:

  • Is the onboarding process formalized? Who leads it? 
  • Does the company have clearly defined success objectives and captivating career paths for the employees, especially for top performers?
  • Do the top performers have any input into the priorities and strategies of the company?
  • Are you conducting performance reviews once a quarter? Are they candid? Can a 360 approach be adopted? 
  • How are top performers being acknowledged and rewarded?
  • Are you measuring the happiness of your workforce?
  • Are you offering opportunities for continued education? How much time does the company management and leadership team spend training and developing their teams?
  • Has the company lost any top performers in the last year? If so, why did they leave? Are you concerned about losing any top performers in the next 12 months?
  • Are you conducting thorough exit interviews? Check out our advice for exit interviews here. 

If you could use help on any of the issues above, reach out to me at any time, or contact us through the website. Check back to our frequently updated blog for tons of advice like the articles linked above and below, as well.

New Tool from Hirewell: How much are you really spending on Recruiting?

Extending an offer: five best practices

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