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Exclusive: Rethinking the Recruiting Journey

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Rethinking the Recruiting Journey

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Small businesses need to rethink the way they are recruiting employees today. In good times, companies thrive by being in the right place at the right time. But in tough times, organizations grow by being important in the lives of their customers. The same is true for recruitment, retention, and the hiring journey. 

Recruiting as a Marketing Function 

Marketing is not a one-time event. It’s an ongoing process that requires commitment and patience. Ad buyers often think of marketing as a vending machine—you put some money in, and out pops customers—but that’s not how it works.

Recruiters do the same thing when they go to job boards like Monster or Indeed and just buy and run ads. You can’t just throw money at the problem; you have to build a repeatable system that lasts. That is how you build a full-proof recruiting system.

  • Fewer than 15% of all jobs advertised on popular job boards are filled by candidates who apply through those boards. (Empire Resume)
  • 50% of candidates say they wouldn’t work for a company with a bad reputation, even for a pay increase. (Randstad)
  • 79% of candidates use social media in their job search (Glassdoor)
  •  92% of consumers will visit a brand’s website for reasons other than making a purchase. (Episerver)
  • 71% of employees would accept a pay cut for a better work experience. (Hays Recruiting)
  •  80% of employers think employees leave for more money, but 12% actually do. (Gallup)

These statistics show that people in the market for a job have very similar experiences to consumers looking for a product. Their search for a job is more than one event or one moment. It is composed of a complete end-to-end journey. 

Example:

Someone might first see your ad on a job board, but they will also verify your online reviews, look through your social media accounts, and visit your website. 

People aren’t candidates or consumers; they are both. People are just people and they can be marketed in the same way. So you need to take the systems you use to attract consumers to your brand and start using them to help you attract employees to work for you. 

The MOST important thing to figure out if you want to GROW your business…

Rethinking the Customer & Employee Journey Workbook

 In this post, you will not read about “quick hacks you can do find people” or “easy fixes.” Instead, I will focus on the strategies behind your hiring process. These are the strategies you need to know, and this is what will help with your recruitment strategies in the long run.

Three Steps to the Perfect Recruiting Strategy 

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Narrow your recruitment focus to your top ideal 20%  

I preach this to our clients to help them attract customers. It is vital that you fully understand who makes a completely ideal customer for your business. The same is true about who makes an ideal employee for your organization.  

Consider the top 20% of your employees, and ask yourself: Who drives the most profit? Who is the most productive? Who is the most committed or satisfied in their work? Who has the most comments, reviews, or shoutouts? Then make a list of common traits that you see among these people.  

Create Three Lists

After identifying the common characteristics of your top 20% of employees, you’ll want to create three lists. The first two are: “nice to have” and “ideal to have.” What are some things you’ve found that are nice to have in an employee? And what are some ideal things? This information will help you create a culture fit.

Then take note of any experience or technical requirements needed. Try to only let this part sway your opinion if it is absolutely necessary.

This exercise will certainly help you determine who is an ideal fit for your organization. In addition, going through these motions will teach you how to market to your ideal candidate and give clarity on what to look for during the recruiting process.

Tip
When recruiting you should focus on creating diversity but aligning culture. Somebody who believes in your company’s mission has ideal behaviors that will better serve your organization. Which, in turn, will better serve your customers compared to all the experience, background, and technical training.  

Promise to solve a problem 

Nobody wants what you sell, they want their problem solved, period. The best candidates for employment usually have a job already, but they want to find a better one. They want to get out of an environment that is not right for them. So you need to market that your business solves the problems they have in their current role.

What is the problem that your organization solves for employees?

How can you find out what your company’s unique hiring proposition is? Or what problem can you solve? First, survey your current employees. Then build an employee branding strategy based on their answers.

Here is a list of sample questions to ask employees when recruiting;

  • Why did you come to work with us?
  • Why are you still working with us?
  • What factors were involved in your decision to work for us? 
  • What do you like about working at this organization? 
  • Is there anything you don’t like about working at this organization? If so, how can we fix it?

The information received from this type of interview will offer valuable insights and better prepare you for your hiring journey. Therefore, it is crucial to keep the employee survey anonymous in order to collect the most accurate and authentic answers.

Focus on your employee branding strategy 

Take a look at your main marketing message. Does it focus on your product or the service your people provide? Customers experience brands through direct contact with employees. So, unless you are just flat out selling a product, your main marketing message should highlight the people in your organization and how they help your target audience solve a problem.  

Then you will want to see what your customers are saying online about your employees. Mine online reviews or feedback surveys. Are there any employees that customers mention by name? What are those employees like, and what are they doing that customers love? Promote those people and promote what they do for your customers and your brand through social media, newsletters, and your site.

These actions will help you figure out the problem you solve for your employees and double down on it during your recruiting and hiring process. It will also show that you value and act on your employees’ feedback and appreciate their work through public and personal recognition. 

All these things working together help you build a customer base that wants to do business with you, a dedicated staff that wants to work for your company, and new hires that want to join you.

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Create an end-to-end journey  

The cold, hard truth is that customers and employees don’t change companies; they change experiences. Your recruitment strategy should not be a one-time hiring event. You have to build a pipeline and create an end-to-end journey or a complete experience.  

I use a model that depicts the end-to-end customer journey called the Marketing Hourglass. Customers first have to know about you, and then they need to decide if they like and trust you. Next, they actually buy from you. Then, if they have a good experience, they hopefully come back and buy again and maybe even refer you to others. 

You can apply the overall customer journey strategy to the recruiting or hiring journey. Today, people learn about businesses through several different avenues, and it is not always a straight line. Many times, it is just the opposite. How people come to know, like, trust, and ultimately work for your company is inherently out of your direct control. As a result, you must be intentional about how your business shows up at each stage. Actively guiding the experience candidates have with your organization.

The stages of the recruiting journey hourglass are; know, like, trust, try, hire, retain, and refer.  

The first three stages create employee relationships through awareness and relatability; know, like, and trust.  
Know

This is where employer branding comes in. Is your organization referred to as a great place to work? And if so, are you talking about it?  

Do you share that you are hiring on places other than job boards? Do you mention it on your social channels or during interviews? 

Advertising and posting on job sites is an obvious way to attract candidates, but there is no reason to be on these sites if you do not have a clear path to conversion.  

Like

When potential employees come to your site or social profiles to check you out, what story do they find? Do they see that you value your employees through your content? Who is the first point of contact in the hiring process? How fast is the follow-up? How easy do you make it for them to find out more? 

Trust 

At this stage, candidates want to know what other people say about your organization. Take stock of your social media mentions and online reviews. This is also a good opportunity to take control of the narrative and have your employees share their experiences with your target audience.  

You must intentionally implement these steps as part of your brand’s marketing and recruiting strategy.  

The following two stages are the bridge to long-term employee success: Try and Hire 

It can be extremely costly to have a lot of employee turnover, especially short-lived employee turnover, not to mention bad for your business’s image and culture. So that is why it’s essential to get these stages right.  

Try

Take a look at your application process. Does it attract the best candidates or just eliminate the ones applying? Are there long surveys, or is it a rigorous phone screen? Is follow-up more than a week after applying? Do you set clear expectations at every stage of the hiring process? 

Hire

Don’t let your organization be a victim of hires-remorse. Have you evaluated your onboarding process? What does the training process look like? Don’t just put systems in place that check off boxes; put the effort in and make these experiences exceptional.   

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The main takeaway is to hire people with the same care that you put into customer acquisition. For example, you would not have an extensive pre-qualifying questionnaire for your customers or not follow up with them after they purchased, so you shouldn’t do that to your potential hires.  

The last two stages are the keys to growing with your team: Retain and Refer. 
Retain

Year after year, the number one reason employees leave companies is a lack of respect or investment in their personal development. Growing with and investing in your team is how you build a stable business.  

Refer

If your employees trust the hiring process they went through, they are more likely to refer others for open positions. They are also more likely to refer people they know if there is an excellent incentive. The incentives for referral hiring should be creative and benefit both the referrer and the new hire to be effective.  

People don’t change jobs they change bosses. 

Solve for the issue of respect. What if we came to view our customers and employees more like members. Guide people from where they are to where they want to go. 

What else can be impacted in your business by doing this?  

Investing in your recruiting journey will bolster your mission, solidify the messages you share with your audience, help in sales and training, increase services and help grow your business. It will also help with your hiring process.  

What can start doing today today?

Go through each Recruiting Journey Stage of the and ask yourself, “What am I currently doing to build a pipeline of people interested in my organization? How am I nurturing that process?” 

I use this workbook every day with clients. It has all of the tools described in this post. It is also a great planning document that you can use to create your customer and your employee journey.


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Exclusive: Mystery rocket makes moonfall – TalkOfNews.com

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Mystery rocket makes moonfall

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Hello and welcome back to Week in Review, where we recap the biggest stories from the week. If you want this in your inbox every Saturday, sign up here.

Greg Kumparak is still on vacation, but not to worry! He’ll be back at the helm next week to bring you our biggest stories. Until then, I’ve got you covered.

First for some quick business. TechCrunch+ is having an Independence Day sale, which gets you 50% off on an annual subscription. Need more? TC+ Editor-in-Chief Alex Wilhelm gives you all the reasons to take the plunge here.

Okay let’s go to the moon! Yes, the moon. Some space junk crashed to the lunar surface this week, causing some enthusiastic observers to scratch their heads. Was it from SpaceX? Was it from a rocket launched in 2014 by the China National Space Administration? We still don’t know, but Devin Coldewey had a chat with Darren McKnight from LeoLabs, which has built a network of debris-tracking radar, to get some more insight.

Image Credits: NASA/Goddard/Arizona State University

other stuff

Speaking of space: Ever want to stare longingly into the depths of the universe and actually have something stare back? This is supposed to happen in two weeks when the James Webb Space Telescope will release its first images. “This is farther than humanity has ever looked before,” NASA administrator Bill Nelson said during a media briefing this week. Maybe the truth is out there.

Tesla Autopilot layoffs: The automaker this week laid off 195 employees across two offices in its Autopilot division. Those who were laid off filled supervisor, labeler and data analyst roles. Questions persist about what impact the layoffs will have on Tesla’s wider advanced driver assistance system. The remaining 81 staffers on the Autopilot team will be relocated to another office, as the San Mateo office will be shuttered.

SPAC subpoenas: A New York-based federal grand jury sent subpoenas to the board of Digital World, which is preparing to acquire Trump Media & Technology Group, Donald Trump’s media group responsible for Truth Social. According to an SEC filing, the subpoenas are an effort to gather more information about “Digital World’s S-1 filings, communications with or about multiple individuals, and information regarding Rocket One Capital.”

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Deepfake job apps: The FBI this week issued a warning that deepfakes are being used along with stolen information to apply for jobs. A part of this even involves video interviews. “In these interviews, the actions and lip movement of the person seen interviewed on-camera do not completely coordinate with the audio of the person speaking. At times, actions such as coughing, sneezing, or other auditory actions are not aligned with what is presented visually,” the FBI said in a statement announcing the disturbing news.

Party pooper: Welp, that 2020-era indefinite ban on unauthorized parties at Airbnbs is now permanent. This means no open-invitation parties and no parties whose attendance exceeds 16. The company said in a blog post that since they instituted the ban 2 years ago, there was a 44% year-over-year decrease in the rate of party reports. There will be no partying on, Garth.

Human And Artificial Intelligence Cooperating Concept

Image Credits: DrAfter123 / Getty Images

audio stuff

Over on the TechCrunch Podcast Network, Christine Tao, founder of Sounding Board, joined Darrell and Jordan on Found to talk about difficulties she and her co-founder faced while fundraising and how they established the customer type that made scaling possible.

And on the Wednesday episode of Equity, Natasha Mascarenhas asked a question inspired by a recent post penned by TC’s own Rebecca Szkutak: What’s in the fine print for term sheets these days, and what does that tell us about who is going to be in control during the downturn?

Check out our full roundup.

added stuff

Want even more TechCrunch? Head on over to the aptly named TechCrunch+, where we get to go a bit deeper on the topics our subscribers tell us they care about. Some of the good stuff from this week includes:

The SEC rejected bitcoin spot ETFs again. Now what?
The SEC’s decisions aren’t a first for the industry; the government agency has denied over a dozen bitcoin spot ETFs in the past year alone while approving several bitcoin future-based ETFs, Jacquelyn Melinek reports.

Disclose your Scope 3 emissions, you cowards
Tim De Chant takes on the companies that claim they’re serious about carbon emissions. In short, if they’re serious, then they’ll estimate their Scope 3 emissions and not undermine attempts to make Scope 3 disclosures standard.

Pitch Deck Teardown: Wilco’s $7 million seed deck
Haje’s back with another pitch deck teardown, this week from Wilco, a company whose funding he covered last week. He is pretty excited about Wilco’s deck, as, he says, it’s 19 slides that tick all of the boxes.

Image Credits: Wilco (opens in a new window)

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Exclusive: Kohl's says a real estate sale is on the table after scrapping deal talks – TalkOfNews.com

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Kohl's says a real estate sale is on the table after scrapping deal talks

#Kohl039s #real #estate #sale #table #scrapping #deal #talks

People walk near a Kohl’s department store entranceway on June 07, 2022 in Doral, Florida.

Joe Raedle | Getty Images

Kohl’s might not be selling its business after all. But it’s now looking to sell some of its real estate, reversing its prior stance.

The retailer on Friday announced it terminated deal talks with The Vitamin Shoppe owner Franchise Group, confirming CNBC’s reporting from Thursday evening. Instead, Kohl’s said, it will continue to operate as a standalone public company.

Kohl’s for months has been pressured by activist firms including Macellum Advisors to consider a sale of the company, in large part to unlock the value tied up in Kohl’s real estate.

Macellum has argued that Kohl’s should sell some of its real estate and lease it back as a way to unlock capital, particularly during tough times. Kohl’s, however, has been resistant to so-called sale leaseback transactions, at least at such a large scale.

The company did complete a small sale-leaseback deal earlier on in the Covid pandemic, according to Peter Boneparth, chair of Kohl’s board. It recognized a gain of $127 million by selling and leasing back its San Bernardino e-commerce fulfillment and distribution centers.

On Friday, though, Kohl’s explicitly noted in its press release that its board is currently reevaluating ways that the retailer can monetize its real estate. Franchise Group had been planning to finance a portion of its Kohl’s acquisition by selling a chunk of Kohl’s real estate to another party and then leasing it back. This likely gave Kohl’s an idea of what sort of value it could fetch for its owned bricks-and-mortar stores and distribution centers.

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“Now you’ve got an environment where financing has changed so much that it may in fact be more attractive to use real estate as a monetization vehicle,” Boneparth told CNBC in a phone interview.

“When you combine that with what we think the levels of the stock are, it becomes a much different exercise than it was in a previous financing environment,” he explained. “It’s no secret that Kohl’s has a very big asset on the balance sheet: Real estate.”

As of Jan. 29, Kohl’s owned 410 locations, leased another 517 and operated ground leases on 238 of its shops. All of its owned real estate was valued at a little more than $8 billion at that time, an annual filing shows.

Pros and cons

Proponents of sale-leaseback deals argue it’s a convenient way for companies to come up with funds to put toward future growth, so long as there is a buyer for the real estate. But it also leaves the seller with having to meet lease obligations since they would be renting the property they just sold.

Those leases could become much more difficult to break and rents can fluctuate across markets. Kohl’s said in its annual filing that a typical store lease has an initial term of 20 to 25 years, with four to eight five-year renewal options.

In 2020, Big Lots reached a deal with private-equity real estate firm Oak Street to raise $725 million from selling four company-owned distribution centers and leasing them back. It gave the big-box retailer additional liquidity during near the onset of the Covid-19 pandemic.

Also in 2020, Bed Bath & Beyond completed a sale-leaseback transaction with Oak Street, in which it sold about 2.1 million square feet of commercial real estate and netted $250 million in proceeds. Mark Tritton, the Bed Bath CEO at the time, touted the deal as a move to raise capital to invest back in the business. Now, though, Bed Bath is facing another cash crunch as its sales slump and Tritton was ousted from his role earlier this week.

Oak Street had been planning to offer financing to Franchise Group in a Kohl’s deal, CNBC previously reported, according to a person familiar with the discussions. A representative from Oak Street didn’t respond to CNBC’s request for comment.

Kohl’s on Friday reaffirmed its plan to conduct a $500 million accelerated stock buyback later this year. It reduced its revenue guidance for the fiscal second quarter, citing a recent softening in consumer demand amid decades-high inflation.

“Clearly the the consumer is under even more pressure today,” Kohl’s CEO Michelle Gass told CNBC in a phone interview. “We’re not immune to that … but Kohl’s stands for value. And at times like this it’s more important than ever to amplify that message.”

She added that Kohl’s partnerships with Amazon and Sephora remain in place and part of the company’s longer-term strategy to win over new customers.

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“The conclusion of the board process was absolutely the right answer,” she said.

Kohl’s shares ended Friday trading down nearly 20% and at one point touched a new 52-week low of $27.65. Shares of Franchise Group ended the day down 7.5% and also touched a new 52-week low of $31.67 during trading.

Macellum didn’t respond to CNBC’s request for comment.

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Exclusive: Travel Smarter This Summer with This Rosetta Stone-Highlighted Bundle – TalkOfNews.com

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Travel Smarter This Summer with This Rosetta Stone-Highlighted Bundle

#Travel #Smarter #Summer #Rosetta #StoneHighlighted #Bundle

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

Summer is here, and you may be gearing up for all sorts of leisure or business travel. But unless you’re the type of person to spend millions to eat lunch with Warren Buffett, you have some concerns about globe-trotting. It’s not cheap to see the world, so you owe it to yourself to find ways to save money and make sure you get the absolute most out of every travel experience.



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See the world better than ever. Get The World Traveler Bundle ft. Rosetta Stone Lifetime Subscription for $159.20 from now until July 18 with code ROSETTA20.

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