Ready to Hire? A Quick Guide to Setting Your Recruitment Strategy

February 20, 2012

You’re ready to begin scaling your business.  You’ve identified a need for talent.  You’ve just received venture capital funding.  You are ready to hire!  Wait.  Maybe… If you’re a new hiring manager, or just recently started your own business, you may be asking yourself…”Where do I even begin?”

The first order of business is of course to create the job description.  Discuss the role internally and with the key stakeholders.  The best person to create the job description is not necessarily Human Resources!  You’ll want to involve the direct manager of this person, who is generally also the hiring manager, and those who have held this role themselves.  Be sure to take the time to ask yourself and others: “Why are we making this hire?”

You’ll also want to understand the compensation range that aligns with your own organization.  It’s ideal to use external compensation analysis tools (we use Payscale at OpenView) to understand market rates, but it’s also important to conduct ongoing data points as you begin your search.  As you interview, what are you seeing in the marketplace?   What did candidates earn in previous positions?  You’ll want to get everyone on the same page.  Who will approve this offer?  Make sure that they are aware of this data and you get their approval for the range you hope to offer before you begin discussing it with potential hires.

Define your target list.  Who are your competitors?  What are the complimentary solutions?  If you are reaching a stage in the growth of your organization where you would like to reach new market segments, it could be an opportune time to begin hiring employees who have diverse backgrounds in the segments you are seeking to expand into. Of course, I’ve also written a blog in the past which argued that you shouldn’t necessarily focus on recruiting from your competitors.  So, you should also consider researching and recruiting from “like” industries.

You’ll need to consider your geographic constraints (or on an optimistic note, your opportunities!).  Are you able to relocate someone for this position?  If so, what type of package could you offer?  If relocation is not possible, consider the potential of having this person in a remote location.  At the expansion stage, you can’t afford to make the mistake of a wrong hire.  Weigh the pros and cons of hiring the best talent in a location outside of your company headquarters.

Finally, review your recruiting resources.  Where will you post this position?  Are there posting sites that are specific to your industry or the role?  For example, if you are looking for a software developer, you’ll want to look at Dice, StackOverflow, and User Groups.  Beyond the job posting, you’ll want to engage in an active search and headhunt candidates.  Will you use LinkedIn (most likely!)?  Who in your network may have some leads?  Review your target list once more and consider what resources will allow you to truly reach these candidates.

Of course, once you’re here, you’re ready to start searching and screening candidates.  Create a set list of interview questions, develop a scorecard, and determine your interview team.

Do you have a process in place within your own organization for setting a recruitment strategy?  What has been the greatest challenge to getting started?

Park Square Executive Search

Jessica Ray previously was responsible for recruiting initiatives for both the firm and its portfolio companies. Currently, Jessica is a Senior Associate at Park Square Executive Search <a href="http://www.parksquare.com/">Park Square Executive Search</a>.