Talent and HR News Weekly Update: Tips for Making the Right Hiring Decisions

Probably one of the hardest business decisions is a hiring decision. There are so many variables to consider, and it's an expensive commitment. Some people rely on their gut, some pepople rely on more quantitative criteria. Whatever your method, here are some tips for making the right hiring decisions.

1) Old School Tools And Techniques Can't Win Today's Talent War from Forbes

"Think about the talent contests that are so popular on TV these days. They’re entertaining, but they bear no resemblance to the way the world really works. In those shows, individuals vie for the privilege of winning over an elite panel of experts. In the real world, organizations are vying for talent that’s all too scarce and growing scarcer. Why? Demographics are shifting; automation is eliminating most rote tasks, allowing people to do more of what they’re best at; and organizations are looking to expand globally while maintaining the same high standards they established at home."

2) Find great employees with a smart hiring process from The Tenneseean

"Your company culture determines the type of person you want to hire. Will your culture be hierarchical or team-based, or will it involve internal competitiveness? Do you favor "smooth and steady" or do you like to take risks? Employees must understand and embrace your culture. Know what motivates potential employees. Is it money, recognition, opportunity for advancement or something else? Determine if you can offer what the applicant wants. If money is the prime motivator, will the employee jump at the first opportunity to earn an extra buck?"

3) Retailers Hiring The Most Employees For The Holidays: 24/7 Wall St. from Huffington Post

"Retailers across the nation are accepting waves of new employee applications in preparation for the imminent 2014 holiday hiring season. Seven of the nation’s largest retailers will together add nearly 400,000 jobs this winter. Once again, Macy’s (NYSE: M) leads the nation with an expected 86,000 seasonal job openings. According to global outplacement consultancy firm, Challenger, Gray & Christmas, higher consumer spending and improved employment across the nation is enticing retailers to ramp up holiday hirings this year. To determine the companies adding the most workers this holiday season, 24/7 Wall St. reviewed seasonal hiring announcements from America’s largest retailers."

4) Measure These 5 Talent Metrics for Greater Success in Hiring and Managing Employees from Entrepreneur

"An organization is only as good as its talent, so finding and hiring the best is vital for success. However, the 2014 Global Assessment Trends Report from The Corporate Executive Board (CEB) found only half of respondents use talent metrics to prove return on investment of talent or help inform business decisions, and only 45 percent currently use objective measures of potential to guide development and succession plans. This means human-resource teams worldwide are still failing to make the connection between measuring talent metrics and using that data to make hiring decisions, as well as evaluate business performance."

5) 5 Things You Need to Know Before Hiring Your First Employee from Entrepreneur

"Making the decision to expand your business is a big deal. Whether you’re a single professional whose practice has outgrown your available time or an entrepreneur with dreams of growing the next Fortune 500 company, adding a new employee into the mix isn’t a process that should be taken lightly. To prevent costly mistakes and wasted time, run through all of the following considerations before you even think about hitting “Publish” on that job-board listing: 1. Check your finances. Hiring employees involves more than just paying a salary. Depending on your state, you may be responsible for employment taxes, worker’s compensation fees, additional insurance requirements and more. If you’re feeling generous, your compensation package may include benefits, vacation/personal time and 401k contributions above and beyond your employee’s salary."

6) Small business hiring roars back in October - Main Street employment growth mirrors that of the broader economy from The Washington Post

"Small business owners cranked back up their hiring engines last month, eclipsing the six-figure threshold for only the second month in the past year, new data show. Small employers added 102,000 jobs in October, up from an upwardly revised 93,000 the month before, according to the latest employment report released by payroll processing firm ADP. While that’s still down from a peak of 133,000 positions added in June, it marks the second straight month of improvement after a slump to close the summer. Hiring by small businesses continues to mirror that of the overall economy, as employers of all sizes added 230,000 positions in October, representing the second largest monthly output in the past year, too." 

Lexi Gordon is a Lead Consultant for exaqueo, a workforce consultancy that helps organizations build their cultures, employer brands and talent strategies. Contact exaqueo to learn more about how we can help you build a workforce that’s aligned with your company culture and develop an employer brand that will allow your business to scale the right way.

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