Recruiting top talent for your company probably has never been more challenging.
As difficult as finding the right talent is, the ability to get a reasonable Return On Investment for all the hard work is even more challenging. The cost of on-boarding new hires is increasing.
The Bureau of Labor Statistic found that median employees’ tenure for ages 25-34 is only 2.8 years. Harvard Business Review gave these statistics:
- Nearly 33% of new hires look for a new job within their first six months on the job. (Among Millennials, that percentage is even higher … and it happens earlier.)
- Twenty-three percent of new hires turn over before their first anniversary.
- The organizational costs of employee turnover are estimated to range between 100% and 300% of the replaced employee’s salary.
- It typically takes eight months for a newly hired employee to reach full productivity.
The process for recruiting new employees could possible include a 50 item check list with just as many different forms and departments involved. One would wonder if this is where silos and bureaucracy first got their start.
The job search for a perspective employee often starts with an online test, which gathers information on the perspective employees personality, moral make up, creativity and comfort with others. It resembles an on line dating survey trying to match the perfect person to the perfect job. This method works amazingly well and many companies are opting for this, followed by online interviews. This takes a huge amount of time, money and effort.
There is another option that gets amazing results.
Each year the incoming students in the MBA HR and Supply Chain tracks at Brigham Young University and recruiters from major corporations spend three days in an exceptional experience. The goal is to provide an environment that is challenging, out of the ordinary, and requires team interaction so the recruiters can find the perfect candidate for next summer’s internship. The medium is whitewater rafting and camping at night. Where else can a team come together quickly, where their actions can either mean success or failure, but in a raft going through rapids?
The recruiters are able to actually see how students handle change, work with each other, think quickly, take direction, and react strategically. Are these possible recruits the first to get up in the morning? Picky about what they eat? Whinny? Shy? Leading out? Asking the right questions? Fun? Kind? Nurturing? Aggressive?
The recruiters understand the culture of their respective company and what is expected of the employees. This is a perfect opportunity to see people as they really are and find a match. You can teach new skills, but finding a cultural match is very difficult to do over the internet and through a survey.
But camping is so uncomfortable and rafting is so wet…
That is partially true. But camping in tents that you can stand up in is good, and sleeping on a deluxe air mattress is even better, but when you eat the great food the discomforts are soon forgotten. Then add time to talk with the prospects, get to know them personally, see them in action during the water expedition and camp time and you have and exceptional recruiting experience.
Do not take my word, but consider the continued support of more than 20 Fortune 100 companies and numerous smaller companies who have found that they are able to find and keep top talent year after year. These results speak for themselves.