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Exactly eight years after the Great Recession ended, the U.S. job market has settled into a sweet spot of steadily solid growth,” according to AP (6/1, Boak).  AP added, “the 4.4 percent unemployment rate matches a decade low,” and, “many people who had stopped looking for jobs are coming off the sidelines to find them.” The article states that “all told, it’s evidence of an American economy that is running neither too hot nor too cold, with growth holding at a tepid but far from recessionary 2 percent annual rate.”

For complete article, visit http://www.startribune.com/us-job-market-looks-solid-8-years-after-recession-ended/425728393/

 

James F. Lynch PhD, MBA – Regional Personnel Services ©2017

Have you ever made the wrong hire?

There are 3 significant, but sometimes intangible, issues to consider when hiring – time, money and morale. I will address time & money here, and morale in next article.

According to a recent Society for Human Resource Management’s (SHRM’s) Human Capital Benchmarking Report, it can cost up to $4,129 (cost-per-hire) to land a new employee. In the current economic times, however, companies can’t afford to miss out on great talent, and perhaps more importantly, make the wrong hire.

Time kills deals, and recruiting momentum is no different. Companies that drag out the process, usually can end up with less-then-perfect hires at higher prices. Sensing a prolonged hiring process, top performers will drop out of the pool within days or weeks, for example, thus reducing the quantity and quality within the talent pool. Only individuals with fewer options or little time to seek alternatives, will remain actively engaged in the process. And of those candidates who stay in the process, cost to hire them can increase substantially as a result of negotiating higher offers in order to outbid the competition.

By outsourcing recruiting to an experienced recruiting firm, a company can drastically improve the speed, reduce costs and drive successful hiring campaigns. Recruiting firms are faster and more efficient, in part, because they recruit every day. The best recruiting firms, however, must also stay on top of latest tools & techniques. And finally, they must stay abreast of the changing needs of their clients, as well as, the daily shifts in the marketplace of top talent.

James F. Lynch PhD, MBA, CSP
President

 

James F. Lynch PhD, MBA – Regional Personnel Services ©2017

staffing agency somerville nj

 

Every day I get to speak with many business owners and decision-makers across many industries. I consistently hear the same staffing problems, “I need smart, motivated and resourceful people.” The question is, how does one uncover these traits from the hundreds of resumes received each week?

While the resumes list all the candidate’s wonderful accomplishments, these are a retrospective view of past performance. The question is, will this person be successful in the new company with its unique culture, clients, challenges, requirements, etc.

A key predictor of a candidate’s success, I have found, is their attitude. The reason attitude is so important, I feel, is because it can be a key driver of one’s resourcefulness. In order to succeed in today’s ambiguous workplace, candidates must bring a high-degree of resourcefulness. They questiontemp staffing agency somerville nj“why are we doing it this way?”

Attitude assessments must be part of the overall interview process. There are standard on-line assessments, however, an experienced recruiter with great interviewing skills and instincts, can uncover true attitude, as well as, the underlying personality traits that drive that attitude. Behavioral interviewing with specific conversations into particular situations, and experiences can uncover surprises –good and bad.

In terms of resourcefulness, many of the newly-minted graduates seem to fear failure. Failure should be seen as a learning opportunity in any organization. The key word here is to “learn” from it and to share it with others so that the company can become more competitive as an organization. In this new workplace, star employees thrive on ambiguity, and more importantly, they see it as an opportunity to garner resources in new ways to get the job done, better! Failure is all part of this process.

The interview is not only to verify the wonderful accomplishments listed on one’s resume, but to access the candidates’ attitude toward their future, their career, and the opportunity as presented to them. This is one way experienced recruiters find the stars for the new world!

 

 

James . Lynch PhD, MBA

Regional Personnel is a privately-owned, boutique staffing and recruiting firm located in Hunterdon County providing service throughout New Jersey. As trusted, ASA-certified staffing professionals with 31+ years of combined staffing and employment experience, we match top talent with businesses of all sizes. We provide a unique and personal experience that no other staffing agency in the area can match.

 

James F. Lynch PhD, MBA – Regional Personnel Services ©2016