4 minutes
In a competitive job market, it pays to look for top talent long before you need to leap.
The U.S. unemployment rate continues to drop, and that’s generally regarded as a good thing.
Unless, of course, you’re an employer competing to hire top talent for your company. Job growth is making it more difficult for companies to find candidates with all the qualifications they require, much less desire.
The job market is a little like the housing market—a lot depends on inventory and the economy. Sometimes there are more buyers, and sometimes more sellers. Right now, job seekers tend to have the edge.
If you’re looking to fill a position and your credit union’s latest collection of resumes is looking pretty slim, it could be you’ve already made your first mistake.
Why wait until you have an opening to start the recruiting process? You’ve likely already met the best candidates out there. A smart organization keeps the pipeline open. That way you won’t have to scramble if someone leaves or settle for less than the candidate you want. Always have someone waiting in the wings.
Even if you think you already have a great team, find some way to keep meeting potential employees. Here are three tips for finding top talent:
Get creative in the interview process. Ask questions that are not on the typical interview agenda that candidates expect. If you can get people speaking honestly and off the cuff, you’ll learn much more about them.
Raid other companies for talent. If you find someone who can help your business and you know he or she is underappreciated at a competing organization, release the hounds and get poaching.
There are diamonds in the rough everywhere. Don’t overlook a current or potential employee just because his or her resume isn’t an exact match to your job opening. Today, there are computer programs that toss out applicants before a real person ever gets a chance to check out their qualifications or reasons for wanting the job. Don’t limit yourself to a checklist. Hire people who have a genuine passion for your mission and the skills—self-taught or not—to do the job.
I have a hiring mantra: Always be interviewing.
I’m not saying your credit union should run ads and interview every Friday. But do keep the mindset that you are never finished recruiting.
Bill Green is author of All In: 101 Real-Life Business Lessons for Emerging Entrepreneurs and founder/CEO of LendingOne, Boca Raton, Fla.
