Every year, your organization maps out a forecast for how to measure growth and performance. The revenue model can be broken down further into net new acquisition, cross-sell/up-sell expansions, and net retention rates of existing customers. All together, the anticipated revenue from each of those categories adds up to the top level revenue target for the year.
Creating those targets is a great blueprint, but you need actionable ways to deliver results for those forecasts. At the end of the day, the people on your team are the ones that execute the work, analyze performance, and create new strategies for how to further achieve the desired revenue target.
That’s why it’s so important for your company to dedicate time and resources towards attracting the right candidates for your team. You need a direct sourcing model that helps you find people who have the skills, the experience and, most importantly, a burning desire to elevate everyone in the organization to achieve their maximum potential.
The cost of making the wrong hire can be as high as $240,000. Multiply that number by a handful of bad hires and it adds up to significant costs for your organization.
In order to minimize costly mistakes of bad hires and focus on attracting the right candidates for your team, your leadership needs the right mindset. Growth is achievable in nearly any scenario, but it requires a formulaic approach to hiring and business development. You need the three Ps, and in this order: people, products, profits.
At the end of the day, business only functions as a result of the people that work for your organization. And the highest quality candidate is looking for a reason to invest their time, energy, sweat, and dedication into your business.
It’s incumbent upon you to attract the right candidates with the right positioning. For example, 73 percent of prospective job candidates won’t apply to join a company if they feel the corporate values are out of sync with their own. Culture is very important in this day and age, especially in light of the COVID-19 pandemic and the Great Resignation that followed. People are not afraid to quit a company if they feel their values are not represented by the corporate identity.
Demonstrate your corporate culture throughout the hiring experience. Articulate what your company stands for and what you hope to accomplish throughout the year by achieving your vision for growth. Explain how employee recognition, flexible work hours, work-life balance, and global sustainability are all part of your company’s inherent values.
Any of these steps shows the humanity behind the brand, allowing the right talent to form a connection with your organization. When they can feel a connection, they feel a desire to join the team and put their skills to good use.
Your revenue targets map out your growth plans for the year, but you need something to sell in order to generate that development. A good product is no longer enough; you need something that stands out from the competition, provides clear value to the end user, and that also has a cool look and feel as well.
Want to know the secret to building that game changing product? Attracting the right talent to join your team breathes new and creative ideas for product development into your existing product roadmap. You can recruit visionary leaders to head up your product team and align them with similar leaders on sales, marketing, client success, HR, and even finance.
This cross-departmental alignment allows everyone to see the vision of the product roadmap and contribute ideas that will all help address the overarching goal of the company: how to earn more revenue to further grow the business.
Far too often, founders or C-level executives make business decisions from a strictly financial point of view. Everything is categorized in terms of dollars and cents in a foolhardy attempt to maximize profitability. Unfortunately, companies that put profits ahead of everything else are almost universally destined to fail. You can’t jump to the endpoint without first putting in the work to get there.
When companies put an emphasis on, first, attracting the right talent to grow their teams and, second, building exceptional products that can change the landscape of the marketplace; the profits will come in time. These organizations understand that businesses grow because of the people that work for them and the products they develop in order to go to market. Without that critical infrastructure, you can’t achieve your profitable dreams.
With the mindset of the 3 Ps, and in the correct order, you can align your entire organization around that perspective. Once everyone is on the same page, you can determine how to go about attracting the right candidates to help bring your dreams to fruition.
However, building your dream roster of professional talent is not as daunting as it may seem. Technology has come a long way and platforms like High5 are designed to liberate your own time so you can hire qualified talent using much less work than traditional hiring practices.
High5 Trusted Talent is your secret sauce to attracting the right candidates to build out your team. We’ve taken the guesswork out of the hiring process because our 18,000 subject matter experts pre-screen all candidates on your behalf. Once the screening process is complete, we identify the skills and experience of the top remaining professionals and compile an assessment of their candidate profile. This assessment includes recommendations for an open role.
The most valuable benefit of High5 Trusted Talent is that it’s a proven formula that helps companies spend 70 percent less of their time on the hiring process. You don’t have to worry about finding, vetting, and interviewing talent because our team of experts handles the bulk of the workload for you.
We know how to identify the most capable professionals because our subject matter experts are all experienced workers who have done these jobs in the past. They know how to find the true rock stars in the talent pool, and they’ll help find the most talented people who can lead development of a killer product that will, in turn, bring your company new profitability.
Our team of industry leaders are ready to help your talent management program become the best it can be. Register with High5, your transformative talent management tool and make your next new hire the best decision you ever made.
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