Hiring new employees to join your team is certainly no easy task. In addition to choosing someone who fits into your company culture, you also need to find a candidate with the potential to provide a high return on talent (ROT).
Unlike many talent management KPIs — retention rates, time-to-fill, engagement levels — ROT often falls below the radar, but it’s time to change that. Defined as the return you receive from your investment in recruitment and retention efforts, ROT has a huge impact on your entire organization.
Increase Your Return on Talent
Your company can only perform as well as the employees powering it, so if you want a higher return on investment (ROI), you need to understand your ROT. Calculate this metric by dividing the knowledge garnered and applied by your team by the amount of money invested in your staff.
Not pleased with your ROT? Boost this number by partnering with a recruiting expert. Teaming up with a staffing professional to fill your open positions can help increase your ROT in these three ways.
- Gain Access to Top Talent. The best and brightest professionals can be very difficult to track down. Oftentimes, these people are gainfully employed and only willing to change jobs if a truly incredible opportunity presents itself, but they’re not scouring job boards for postings. Recruiters work hard to maintain connections with these passive candidates, granting you exclusive access to them you can’t get on your own. ROT surges when you build a team of talented professionals at the top of their field.
- Find Truly Passionate Candidates. When interviewing dozens of candidates it can be hard to distinguish the truly passionate from those who are willing to say and do anything to get hired. As staffing professionals, recruiters are specially trained to determine which job seekers are genuine and which ones are just looking for a paycheck. Expect your ROT to rise when you have a team of people who genuinely enjoy their work.
- Hire Right the First Time. To the untrained eye, a candidate with a seemingly perfect resume is always the obvious choice, but recruiters know better. Cultural fit is actually even more important than skills fit, so your staffing partner will go beyond the resume, asking questions that reveal each candidate’s personality and work style. ROT increases when you’re able to hire right the first time and invest in the best person from the start.
Want to achieve a better ROI for your talent strategies? Partner with Sparks Group. Our staffing expertise has helped countless organizations in the Washington, DC/Baltimore Metropolitan Area boost productivity, reduce overhead costs and streamline their talent acquisition strategies. Contact us today to learn more about our professional staffing and recruiting services in Washington DC and beyond.