HIRE COUNTER CYCLICALLY by Marty Mattare. Phd

04 Jun 2009 Leave a Comment

by richrover in Uncategorized Tags: strategic competitive advantage

New Rules: In Turbulent Times Hire Counter-Cyclically
for Strategic Competitive Advantage

It seems counter intuitive, but now is the time to hire top talent. Why — because you will take advantage of the great talent now available because of massive layoffs in the job market, talent that otherwise would possibly be unavailable to you. These talented people would ordinarily have many choices regarding job opportunities and often are lured by large organizations who offer advantageous opportunities. However, the job market is different now and will be for some time. That is your chance to employ super people who will play a major role in growing and improving your small business.

Because small companies feel the impact of personnel more deeply than larger ones who ‘absorb’ people into their systems, they need to think more strategically about human resources. Each person you hire will play a big role in the growth and development of that organization. Therefore, it is critical that you create a human capital growth management plan for your company.

Step 1: Evaluate the staff you currently have;
a) What are their credentials?
b) What related work experience do they have?
c) How does the compensation package hold up to the job market?
d) Where are the weaknesses – Finance? Marketing? Sales?
e) Write a job description that outlines what you need now.
f) Then, rewrite that job description for what you think you’ll need in 3 years; 5 years.

Step 2: Design your recruitment effort;
a) Where will you list the job opportunity?
b) Will you need a head hunter to help you pre-interview and screen applicants?
c) What are the screening criteria?
d) What is the compensation package? Use www.onet.org for job descriptions and salary ranges that are competitive.
e) What is the interview plan? Conduct yourself? Incorporate others for a multi rater approach?
f) What is your training plan? Small companies can cross-train quite effectively.

Step 3: Recruit and train;
a) Carefully conduct the recruiting process.
b) After the offer is made and accepted, start the training program. Be a mentor to your new employee!

Remember, when the job market turns around, the talented pool of potential employees will be snapped up the ‘the big guys!’