At any moment, you could come across the perfect potential employee. Whether at a networking event, in the airport, or even at a family picnic, you can’t let top talent slip through your fingers.
Unfortunately, these unexpected meetings often happen when there are no open fitting roles. But waiting until a position is open to bring that person into your talent pool is extremely dangerous.
When a position finally does open, they could have already moved on, leaving you with another expensive and time-consuming candidate search. With the cost per day of an open position averaging approximately $500, according to the CEB Global Talent Trends Q2 2016 report, and the average time to fill at about 44 days, unfilled roles can run upwards of $22,000.
So, when the perfect talent crosses your path, you need to hold onto them tightly — open position or not. To help you convince company leaders this is the best idea, we went to the experts. Here’s what they said:
1. Start with organizational realities
When you find someone who has skills, talents or the right character, do everything you can to bring them into the organization. It puts you ahead of the competition if you build a bench of top talent that can step up to fill future openings. And you’ll save time and money, too.
Turnover is inevitable, so talk about your current turnover statistics. In addition, there may be some people known as high-risk for quitting or others who are clearly under-performers who may be replaced in the short-term.
By hiring before a position is empty, there will be someone already trained and familiar with the organization who can step in immediately. This saves time and money in two ways: the cost of the recruiting process itself and the lost productivity while a new hire gets up to speed.
With the changing generational demographics, succession planning is essential for every position. Consider who in the organization is moving toward retirement and how that will impact current staffing. What gaps will need filled?
Show how this hire can contribute to resolving those issues. Clearly define the skills, talents, and attributes this candidate brings. Show how they can add value for both short- and long-term success.
Noal McDonald, Co-CEO of Revolutionary Conversations, LLC and co-author of Revolutionary Conversations – The Tools You Need for the Success You Want
2. Show potential futures
If a role has a high attrition rate and recruiters struggle to find the right people on time, creating a position and maintaining a pipeline makes sense. This becomes even more instrumental when a crucial position becomes unexpectedly vacant. Without already prospected talent, the business could crumble.
If you’re having trouble convincing leaders you need to create a position, reflect on business case projections and numbers. Take two scenarios to chart a comparison. First, show the results when key people are there and working at their full potential.
Then, project a scenario when one of those key players suddenly leaves. Make a point to company leaders that it’s going to be time-consuming and expensive to fill a position immediately. Explain the benefits of having a safety net of potential candidates who can be trained to replace people in key positions.
3. Prove they’re the best
Top talent is like an elite athlete — you don’t find them every day. If you expect company growth or want to be successful, there is nothing more important than talented people!
When it comes to convincing leadership you need to hire these people, you need to show the specifics on why they are the perfect fit. Consider these questions:
- Do they meet your profiles?
- Do they have a successful history of performance with specific, measurable results?
- Do they fit your company culture?
- Will they be a long-term hire?
If you can say yes to all of these questions, they’re important for your company. Hire them as bench players to train and develop for the right moment. Like most companies, you likely don’t feel over-staffing, so there’s plenty of work to go around!
When you meet unexpected talent, how do you ensure they become part of your team? Let us know!