Hiring Success in the New Year: Strategies & Challenges
January is a prime time for hiring managers to set goals, refine strategies, and source talent for the year ahead. It’s also when many businesses finalize their annual hiring budgets. As you plan your recruitment season, consider these key points:
- Realistic Goals: Set achievable hiring targets. Prioritize filling crucial positions that significantly impact your company’s success.
- Early Sourcing: Begin candidate sourcing early. This allows for quicker interviews and faster hiring decisions.
- Streamlined Hiring: Be prepared to quickly close deals with top candidates who are actively seeking new opportunities.
By following these tips, you can transform January into your most successful hiring month yet, setting the stage for a prosperous year.
Prioritizing New Hire Retention
While achieving high hiring numbers is important, retaining those new hires is equally crucial. A recent Qualtrics report revealed a concerning trend: 39% of employees hired within the last 6 months consider leaving within the next year. This is significant considering SHRM estimates the cost to hire and onboard a new employee at nearly $5,000.
Furthermore, the report found that less than half (41%) of leaders prioritize onboarding new hires. This disconnect highlights a potential problem area.
Strategies for Retaining New Hires:
Focus on prioritizing the well-being and integration of your new hires to increase their retention rate. Here are some resources for further exploration:
- On SHRM: The Cost of a Bad Hire Can Be Astronomical
- On Worklife.com: A six-figure salary was once celebrated, now it’s expected
- On Hireology: Common Illegal Interview Questions
A Shifting Recruitment Landscape
Gartner reports that a significant portion (over half) of new hires are currently declining job offers, even after accepting them. Reasons vary – some candidates change their minds, while others ghost employers entirely.
This trend of candidates reneging on job offers has been steadily rising in recent years. A tight labor market with abundant opportunities empowers candidates with greater choices.
Partnering for Success
Collaborating with a recruiter like The Swan Group can help ensure your chosen candidate follows through on their commitment. We invest significant effort in building strong relationships with both job seekers and hiring managers, leading to successful placements.
Effective recruitment hinges on setting realistic goals, acting swiftly, and prioritizing new hire integration. In today’s competitive landscape, partnering with a qualified recruiter can prove invaluable in securing top talent and fostering long-term retention.
Are you looking for top IT talent in the pharmaceutical or biotech industry?
Contact us to discuss how we can bring top-tier IT talent to your organization. The Swan Group are executive leaders with extensive IT recruiting expertise in the biotech and pharmaceutical space. Our goal is to ensure that each professional we place and each client we work with achieves a competitive advantage based upon our services.
Are you a professional looking for a new opportunity?
Contact us to discuss your career options or browse our opportunities. As a small boutique firm, we are in the business of building careers, not just filling positions.
ABOUT THE SWAN GROUP
Our goal is to ensure that each professional we place and each client we work with achieves a competitive advantage based upon our services. Our specialty is high-level INFORMATION TECHNOLOGY placement within the Pharmaceutical, Bio-Pharmaceutical, and Consumer Products industries. Thoughts, comments, or would like to discuss further, please contact us.
