Brandon asks, “We’re really struggling trying to find qualified candidates for our open positions. We’re paying competitively, but we can’t find anyone to fit the role. What do you suggest?”
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What follows is an AI-generated transcript. The transcript may contain errors and is not a substitute for watching the video.
Christopher Penn 0:13
In today’s episode, Brandon asks, we’re really struggling trying to find qualified candidates for open positions.
We’re paying reasonably competitively, but we can’t find anyone to fit the role.
What do you suggest? Okay, so the, the Yellow Flag immediately is saying we’re paying reasonably competitively.
The reality is that talent is still at a substantial deficit, right? We still don’t have enough people that stayed in the industry.
And so available talent that is willing to work for you, is going to be expensive.
So there are two different ways to handle this one, the obvious way is to pay more, right, instead of being paying competitively out compete the market, you might have to have smaller headcount.
Right? If you are hiring for five positions, and paying reasonably competitively, you could probably hire for three positions and pay exceptionally well, that would certainly be a big help.
The second thing to do is to consider the qualifications of what it is you’re looking at.
Because one of the things I think companies are doing most wrong right now is they are looking for very short term investments.
And I guess the way I would put this is, companies seem to be looking for employees that are like widgets that you can just pick up like a cog, put it in the machine, and it’s ready to go and boom machine keeps running, you’re going to pay a lot of money for that capability, you’re going to pay for someone to hit the ground running as the cliche goes in, literally every job description there is, if you are willing to invest in people sort of grow your own.
You don’t have to pay outrageous sums.
As long as you’re willing to trade off.
Yeah, you’re not going to hit the ground running, that’s gonna take 3060 90 120 180 days for a person to get up to speed.
But once they do, then a you’ve helped advance their career.
B, they might have a bit more loyalty to you, because you’ve clearly shown you’re willing to invest in them.
And see, it opens up the candidate pool considerably.
Instead of looking for somebody with, you know, three to five years experience, what would it look like? For you to identify someone really smart, really eager? Good attitude, strong aptitude, but no experience? What would it look like to hire a person like that? And if you have to pay the hit the ground running person, $100,000 a year? Could you find somebody who truly is entry level, start them off at 60? And say, Look, we know it’s going to take us six months to get speed, right? But as you do as you grow into the role, will teach you what you need to know as long as you’re capable of thinking as long as you’re self directed and motivated.
As long as you can follow directions and ask questions when you get stuck.
We can make this roll work for you.
Like I said, that opens up the candidate pool considerably.
When you look at the number of people who could work for you, but don’t necessarily because of your current requirements.
Changing to a instead of a hunting strategy, more of a farming strategy, right instead of trying to find the the perfect deer in a rough winter.
Maybe you farmed all summer, and now you’ve got crops to eat over the wintertime.
But it took a lot more work.
It took a lot more work to get to that point.
Think about all the categories of people who might have aptitude, might have attitude, but don’t have a stitch of experience.
Folks who maybe never completed a college degree, folks who are veterans, folks who are in some way impaired but still perfectly capable of doing a job.
It’s just that they’ve not had the opportunity folks who come from economically or socially disadvantaged backgrounds.
Folks who come from economic opportunity zones, right? In the USA we have huge numbers of people who are example on a American Indian reservations and things.
People are people brains, our brains, right? For a lot of the work that we do in marketing,
Christopher Penn 5:09
this, the physical, it really is just the case for the computer in here, right.
So what this looks like and where it’s been is less relevant than what the machinery in here can do.
So if you are willing to broaden your requirements, if you are willing to remove some requirements and spend more time looking for aptitude, looking for attitude looking for affinity for the different tasks, you might find really good candidates who just need a shot, just need a chance.
And you can start them off as entry level, right, because if they have no experience, they are entry level and you can pay accordingly.
But commit to growing them, right.
This is like venture capital.
If you think about hiring as venture capital, you can pay full price for a company that’s already a hit.
Or you can invest in a whole bunch of startups.
Nine of the 10 MAE won’t make it but that one that does, is going to meet your they’re going to knock it out of the park, right, you’ll recoup your investment many times over.
The same thing is true of people, you’re not going to hire rockstars every single time.
And frankly, if they’re like Keith Richards, right.
But if you hire a bunch of folks, and invest in them, acknowledging Yeah, some of them aren’t going to work out, maybe the majority of them aren’t going to work out.
But taking that attitude of investing, and growing your own talent, dramatically relieves the pressure of your candidate pipeline, when you have open positions.
Look at internships, right paid internships, paid internships are a great way to identify young talent.
And it’s a place where you can take hesitant to call it risks, because just because someone has no experience doesn’t mean they’re a risk.
But you can be more adventurous in what qualifications you do or don’t need, right? Find a mom who’s wants to return to the workforce only part time, right? That may be a great candidate, somebody who has a perfectly functional brain, but has circumstances that needs more flexibility, as long as the work gets done.
But it doesn’t really matter.
So I would suggest that if you don’t want to spend a gazillion dollars hiring, ready to go people, and you have a corporate culture that permits you to be a little more adventurous in your hiring that you look at all these pools of less traditional candidates looking for talent in the in the most literal sense, looking for good aptitude, good attitude, people who want a chance people who want to want to try making their mark and you’re willing to grow with them, you’re willing to invest in them.
Again, when you do it right.
retention becomes a lot less of a problem.
Right, as long as once they’re up to speed, you’re paying them competitively with what the rest of the market is paying.
Once they’re at that point.
They are much more loyal to you.
And and again, assuming you’re not like a jerk to work for, but give that some thought.
give that some thought.
That’s how I would solve the qualified candidates pipeline issue in the long term and fully acknowledged it’s not going to solve your problem today, right? But solving your problem today is going to require you to dramatically overpay.
Investing in people in the long term will solve the problem on a mostly permanent basis.
Really good question.
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