| Companies across the globe acknowledge that hiring | | | | organizations is to highlight only the positives of the |
| good people is a key source of competitive | | | | job during the hiring process. This is one of the |
| advantage. But most of them indulge in ineffective | | | | contributing factors for a higher attrition rate. On the |
| hiring practices that result in poor hiring decisions and | | | | other hand providing realistic job descriptions leads to |
| consequent loss of competitive edge. With the | | | | finding candidates with the right attitude, skill match |
| economy showing signs of recovery, talent wars are | | | | and cultural fit. These are the people who are more |
| picking up again. However, only those companies that | | | | likely to develop a long-term bond with the |
| learn to hire and retain good talent will reap rich | | | | organization. |
| dividends in years ahead. | | | | In the current economic scenario, organizations would |
| The biggest folly that the companies usually make is | | | | benefit by taking a scientific approach to recruiting. |
| to treat hiring situations as emergencies. They search | | | | Till the economy went into a tailspin in 2008, most |
| for candidates only when there is an opening. | | | | companies mainly focused on recruiting people in large |
| Organizations must review their talent requirements | | | | numbers. But the strategy proved grossly ineffective |
| regularly and develop a staffing plan before | | | | as it paved the ways to mass layoffs during the |
| embarking on a hiring spree. Without a concrete | | | | recession. Now it is time for organizations to shift |
| starring plan in place, companies tend to overlook the | | | | their focus from quantity to quality of hires. Also |
| skills they need at present and in future. They also | | | | they should start looking for job-based competencies |
| tend to be overly optimistic about attrition and | | | | while filling up vacancies rather that settling for |
| recruiting yields. Only by conducing an in-depth | | | | generic competencies. People should be evaluated |
| analysis of their current talent pool, attrition rates and | | | | based on the specific skill requirements necessary of |
| potential growth areas, companies will be able to | | | | the job as also on their ability to stretch and grow in |
| accurately anticipate their talent needs. | | | | the job over the years. |
| Organizations also make the mistake of limiting the | | | | Last but not least, organizations must be willing to |
| pool. They focus either only on external candidates | | | | admit their hiring mistakes, learn and move on. They |
| or on internal candidates. The correct procedure | | | | should constantly review their hiring practices, make |
| would be to develop a larger pool by tapping | | | | necessary changes to suit the changing times and |
| networks, involving external partners such as | | | | institutionalize best practices. Taking periodic audit of |
| consultants suppliers, ex-employees and customers | | | | recruiting practices throws light on what is effective |
| and also through internal channels such as employee | | | | and what is not. Organizations must understand that |
| referrals. This will not only improve the range of | | | | to gain and upper hand in talent wars they must first |
| talent but also enhance the t probability of getting | | | | institute high quality hiring practices. |
| good quality hires. Another common error made by | | | | |