Senior management generally has one primary function – to run an efficient and profitable entity. Decisions based purely on recruiting qualified applicants and improving employee satisfaction and tenure are admirable; however, a recruiting strategy that gains support from senior management must address how recruitment affects the organization. Developing a recruitment strategy that has a positive effect on the company’s bottom line is one that will likely receive approval.
Study employment trends, current labor market conditions and predictions, and industry changes to determine your future workforce needs and the availability of workers. Assess your organizational structure and base your strategy on anticipation of various business stages, such as start-up, growth, expansion, decline or exit.
Review your existing recruitment and selection strategy. Obtain the quality of applicant data, recruitment sources, time and cost to hire, as well as recruiting staff expenses and salaries.
Evaluate the expertise and talent of your recruiting staff. Draft employee development plans to improve their expertise in managing recruitment processes in addition to transactional tasks. Employee development for recruiters moving into strategic roles is necessary if you transition to a more sophisticated way of recruiting new employees.
Select three applicant-tracking systems based on your company size and staffing needs. Prepare a spreadsheet that illustrates the features, cost and feasibility of each one. Compare the cost of automated recruiting methods versus recruiters performing tasks that can be supported by technology. Calculate the return on investment on utilizing technology for recruitment processes.
Draft projections about turnover, retention and attrition. Review current turnover statistics to understand why employees leave and how improvements to your recruitment strategy can reduce undesirable turnover. Repeat this type of analysis for employee retention – that is, calculate the employee retention rate and the cost to replace employees. Prepare retention program sketches that illustrate how proactive measures can reduce costs and improve employee retention.
Prepare a summary of your research and recommendations, including upfront costs, expense to maintain, return on investment and actual savings compared to current recruitment and selection strategy. Illustrate the impact on funding for human resources activities; highlight how funding human resources and improving recruitment strategy impacts the organization’s bottom line. Show the benefits in terms of improving efficiency, employee performance, productivity and the company’s profitability.
Organize a multimedia presentation for a visual depiction of the seamless transition from your current processes to the functional aspects of a new strategy. List possible questions that may arise during your presentation. Be prepared to answer questions from chief executives from operations, finance, information and marketing areas.