A trend is forming.
After months of being locked in the worst talent shortage the UK has ever faced, technology businesses are starting to “settle”.
Hiring managers have started welcoming every application that comes their way - compromising on their requirements in order to rapidly fill gaps (Source: Fast Company).
However, we have a warning to issue. This approach to recruitment isn’t sustainable in the slightest. A pattern like this doesn’t bode well for the success of an organisation's long-term growth.
“Panic hiring happens out of desperation to try and get someone on board as quickly as possible. It comes from a place of fear, especially when a candidate says they’re interviewing at a number of other companies.” - HRM Online
The downfall of panic hiring
It’s understandable why businesses are rushing to onboard employees.
Securing talent in today’s complex recruitment climate seems like a positive outcome, regardless of who the individual is.
This isn’t always the case.
It’s still important that you take your time to vet candidates and recruit the right person for the job. Even though your tech firm might be struggling, it shouldn’t be a case of “first come first served” simply because there’s a role that needs filling.
If the individual you onboard doesn’t fit into your culture or can’t complete the duties you are asking for (even after extensive training), you’ll have wasted money on ineffective recruitment.
Remember, the potential financial cost of a wrongful hire is £132,000 (Source: Agency Central). That’s not to mention the burdens it can place on your current team. Is that a risk you are willing to take?
“Employees you hastily hire, in hopes that they would be good for the role, can quickly send your profits, productivity levels and company culture plummeting.” - Business
Your mission to recruit top technology talent
Nobody likes having gaps in their organisation.
It can place extra pressure on your employees and cause undue stress in the workplace, harming productivity and general wellbeing (Source: Work-Fit).
Yet, as we’ve covered, your plan to address talent shortages can’t be to rush your way through the hiring process. There are better ways; ones that don't stimulate negative consequences for your organisation.
1. Build employee retention
It’s discouraging when a gap opens up that we weren’t anticipating. If managed hastily, it can be a messy experience that can force us into making a rushed decision.
Instead of finding yourself in this situation again and again, why not ensure employees are eager to stay with you? Then, when gaps do arise, it’s not a terrible and devastating problem.
After all, your staff members likely won’t mind stepping up and doing overtime on the rare occasion they’re asked to do so. It’s when extra work becomes an expectation that issues arise (Source: Timely).
2. Utilise predictive data
Did you know that HR software can calculate your turnover rate and alert you when a potential gap might arise? Seriously.
Data offers incredible potential in today’s digital world, and it can be used to your advantage for recruitment.
By understanding when and why employees leave, you can make sure you have a plan in place to seek replacements.
3. Conduct candidate networking
Recruitment takes time, effort, and a lot of attention to detail. However, if you create a plan to put your business in the right spaces, you shouldn’t ever have to “settle”.
Going forward, look to insert yourself into forums, events, and groups where your target candidates spend their time.
You’ll be able to build relationships with the top talent in your industry and ensure their interest when a job arises.
Then, rather than feeling harried and stressed to fill talent shortages in your team, you’ll have a reliable stream of talent to reach out to.
4. Respect the process
Although there are procedures you can set up to make recruitment more efficient for your organisation, there’s a limit to how much you can get away with.
It’s vital that you don’t cut corners in your rush to employ someone, forgetting to check references or, in some cases, put a candidate to the test.
Hiring and onboarding an employee can take anywhere from a few days to four months, with the average for the technology industry sitting at about six weeks (Source: CNBC).
This “delay” isn’t because there aren't any candidates out there. It’s because there’s work to do to identify the right candidate for the job. You have to accept that.
5. Consult expert recruiters
Are you rushing to fill a gap in your company?
Forward Role already has an extensive network of talented individuals that might just be the perfect fit you’ve been looking for. We’ve spent years:
targeting qualified talent
building up our online presence
ranking job adverts
using PR and advertising
Our inclusive solutions include Assist+, our comprehensive IR35 service and we can meet all contract and interim sourcing requirements. Plus role scoping, and long-term recruitment partnerships that make hiring a priority in your business.
Our job seekers have been carefully vetted and will be placed according to your specific and unique requirements.
Working with Forward Role
When you next feel the pressure to recruit, before you make any rash decisions, take a moment to step back and breathe.
'Our team of marketing, digital and technology recruitment specialists can help you with every aspect of your hiring needs, check out our Recruitment Solutions to help you find the brightest contract or permanent talent for your business.
For help expanding your horizons and driving change in your industry through intelligent recruitment, contact us.
At Forward Role, you’ll find genuine experts, who care passionately about delivering for our clients and candidates.
Phill Stott is Group Recruitment Director – Marketing & Digital at Forward Role, learn more about him here.