The hiring process is not just a list of activities that need to be followed or worked upon to fill in the open positions, but it’s a strategic step. Implementing a hiring strategy that is driven by ROI is an assured way of meeting business needs. Of course, there are no set rules to follow as it is a strategy or a framework that helps put things in perspective for recruitment as a business and drives the decision-making process.
Recruiting and retention is getting tougher and tougher every day, and the reasons are multiple impacting each and every stage of the hiring process, right from getting the job description approved to getting the candidate on board. A little retrospective outlook is undertaken, most of the times recruitment is dealt with reactively than a strategic approach.
The reason is, more often than not, the business pressure drives the talent acquisition leader. Obviously, the usual response to such pressure is to pay attention to what causes the most embarrassment to the hiring team. The result is a diverted from getting the desired outcome to addressing the sneaking issues. In effect, it just gets driven by the issues rather than a strategic outcome. It works very well with the MNC’s clients when they looked at recruitment as a business process than just as a hiring process and linked it with the ‘Return on Investment’ (ROI) to drive their actions.
Every business has a process and the goal is to meet the desired ROI. Good recruiting and retention strategies are all over the map, and dependent upon what type of industry they are in, the reason for recruiting and retention (exec level, entry-level), the use of recruiting and retention resources that the MNC’s have at their back (modern recruiting and retention software, paper-and-filing-cabinet), and lastly the market looks like for talent in MNC’s area. MNC’s needs will change – both as they grow, and as any one of those factors that change.