Common Employee Hiring Mental Blocks That Entrepreneurs Grapple With
The dictionary definition of an entrepreneur is – “a person who sets up a business or businesses, taking on financial risks in the hope of profit.” What this definition does not capture is the passion and complete involvement that the entrepreneur possesses. The entrepreneur starts out on a fresh landscape. There are certain experiences he/she has along the way. With those limited experiences, the entrepreneur begins to perceive situations in a particular manner.
These perceptions might be good or bad, right or wrong but they are rarely comprehensive. Over time, unfortunately, these harden into mental blocks which are difficult for the entrepreneur to overcome. This is where a HR leadership programme becomes relevant as it discusses ground realities, explores paradigm shifts and bursts multiple mental blocks formed.
The Ground Reality
One of the biggest challenges that organisations face in the post-Covid world is that power to hire and fire no longer remains solely in their hands. Good candidates and talent are now offer-shopping to get the best deals and they are ready to ‘hire’ or ‘fire’ a company on their terms.
We have come across people having up to 7 jobs in a remote environment! With all this happening, suitable candidates, on an average, wait for about just 10 days for a company to make a decision. If they are not satisfied with an offer within that period, they just move on! In such a scenario, how do you make your hiring process efficient and effective? It all boils down to changing our mindsets and creating the best HR Programs. Here are 4 useful pointers.
- Have processes in place
The left brain is the best antidote to the problems created by the right brain! The discipline of a proper hiring process is the best solution to the entropy of going by whims and fancies. Of course, zeroing in on the 100% right-fit candidates takes time. At the same time, it is also a known fact that companies are able to hire only 40% of the 100% right-fit candidates. Therefore, the primary answer for how to create a performance oriented team is to have a hiring process that is both precise and speedy. Lengthy processes lead to loss of precious candidates. What more, these losses of yours could actually be benefiting your competition!
- Be flexible
As stated already, there is a war going on out there. It is the only war that exists with your competition and it is the war for talent. Of the five Ms’ that every business needs – men, materials, machines, minutes and money – the companies that possess the best men (and women) will soon control the best of the other four Ms’ as well. The focus thus needs to be on being flexible about everything else (mainly ego) to get the perfect people in place.
There is the case of a company fixing the interview for a potential ‘perfect candidate’. Due to some last minute work that came up in the candidate’s office, she sent a reschedule request. This was (wrongly) understood by the hiring company as a lack of priorities and the interview was not rescheduled. One month down the line, the company had still not filled the position and re-approached the same candidate who was now able to command an increased package.
- Build a bond with those you give the offer letter to
Having made a good hire, invest in the hires! Constantly think about how to motivate your employees and make them feel valued. You do not hire good people to tell them what needs to be done; you hire them so that they tell you how things can be done best! Building a bond with the recruits will also solve most of your future recruiting needs as these employees become your ambassadors and HR department on two feet!
- Research continuously to map the market
Today, the times are changing at a pace like never before. Technologies are evolving and processes are getting modified at near breakneck speed. Among the most important HR programs and activities is to constantly keep track of these changes to identify roles and skills that would become critical in the coming future. This will help the business in preparedness and in developing a strong differentiator and core-competence. For instance, the automobile industry is definitely heading into the EV space with ecology gaining equal importance as the economy. The recruiters at, say, a TVS or Hero Motocorp should be on a lookout for the expertise, skills and roles necessary to make this transition.
One of the best decisions you could probably take as an entrepreneur when it comes to hiring is to outsource your Human Resource work to an experienced partner. This will simplify one of the most complex and demanding areas of business. Instead of wondering how to build your team as an entrepreneur, reach out to us and together, we can create a better HR environment, avoid pitfalls and let you focus on what you do best.