Authored by By Michael Schneider
What comes to mind after reading these words? “Honest,” “Awesome,” Smart,” and “Punchy”… Was it HR? Probably not. These words aren’t typically synonymous with HR and recruiters (until recently). Whether it’s in corporate America or an agency setting, HR/recruiter stigmas aren’t great: cost centers, the principles office, and necessary evils are just a few that I’ve heard.
As a former third-party recruiter and an HR specialist, I can understand where these negative perspectives come from. That’s why I appreciate the premise of Top Recruiter. Finally, HR/recruiters have a global stage that’s showcasing the positive business impacts of talent acquisition.
For those who haven’t had a chance to check it out, Top Recruiter is a global movement of CEO’s who are re-engineering the business side of talent. The brand is driven by a groundbreaking docu-series broadcasted across channels like YouTube and Facebook.
At the helm is executive producer and talent acquisition advocate, Chris LaVoie. His goal, along with his cast of CEO’s, talent leaders, investors, and strategists, is to challenge contestants (HR/recruiter entrepreneurs) to get out of their bubbles, band together and reinvent an industry. The question driving all of the hype is “How would you re-engineer the business side of talent?”
Some important topics that have already been discussed on Top Recruiter are:
Turning a cost center into a profit center
Unlike profit-driving functions such as sales, HR is often viewed as a drain on the bottom line. However, if you look close enough, there are ample opportunities to increase efficiencies, streamline processes, and generate revenue.
Attracting, hiring, and retaining the “right” employees could be worth millions alone. For example, a Fortune article revealed that Google’s top technologists (vs. the average) are 300 times more productive. With the average Google employee generating over $1 million in revenue per year, recruiting an all-star has the potential of adding $300 million in revenue each year.
Also, there are cost savings opportunities when it comes to decreasing employee turnover, increasing engagement, and reducing recruiting spend by building strong talent pipelines.
Improving the candidate experience
Candidate experience is a hot topic in talent acquisition. In a few words, it refers to a prospective candidate’s opinion of your recruiting, interviewing, hiring, and onboarding process.
If negative, a poor candidate experience can adversely impact your organization’s employer brand. Possible side-effects of a poor employment brand are longer time-to-fill ratios, decreased employee morale, and overpaying for talent. On the flip side, per NextWave, a startup that specializes in employer branding, a strong brand can lead to a 50 percent decrease in cost/hire and a 28 percent increase in employee retention.
Being a strategic business partner
Organizations are coming to grips with an important truth that was elegantly said by Simon Sinek, “100 percent of customers are people. 100 percent of clients are people. 100 percent of employees are people. If you don’t understand people, you don’t understand business.”
Companies now have roles called HR business partners where the incumbent is responsible for aligning business objectives with human capital. They serve as an internal consultant to management on people-related issues and act as an employee advocate.
The times when HR and recruiters were seen as necessary evils and policy pushers is over.
The docu-series, Top Recruiter, is empowering HR professionals and recruiters to think differently. To change they way we approach our work and start focusing on savvy business strategies to drive bottom-line results.