How to Recruit Your Competitor’s Talent - Ep 11

For the last few years, we’ve been hearing over and over again how there’s a shortage of talent. Most people believe a shortage happens when the employment rate is low. But even in the COVID-19 crisis, with all the people who’ve been laid off, the stimulus from the government makes it so that you, the employers, are probably experiencing a huge shortage of qualified applicant flow. 

That doesn’t mean there isn’t anything you can do about it. There has never been a shortage of talent that you should have been worried about. In reality, it was a lack of winning at the war of competition against your competitors. Employers were all approaching hiring the same exact way because they thought it was a “best practice.” Doing this made all the jobs sound the same and made it so there wasn’t a reason for a job seeker to choose to apply. 

One of the biggest areas where this is true has to do with something called the dip. The dip is the experience a new hire has in the first 3, 6, 9, or even 12 months of coming to work for you that makes them less excited and makes it financially negative for them to quit their current job and come work for you. As long as the dip is present in your process, it will continue to be difficult to both attract and convince your competitor’s talent to leave where they’re at - the safety, the security - to come work for you even if you offer them more pay. 

Today we’re going to talk about 3 or 4  of the best techniques that have the lowest overall cost that you can use to actually drive and attract talent away from your competitors by reducing the dip.