HR Recruitment Best Practices during Times of Low Unemployment
HR Recruitment Best Practices can make the difference when HR professionals are attempting to fill an open position. Steff Chalk, Executive Director of 401kTV interviews Marc Lester, Vice President of Strategic Partnerships at The Plan Sponsor University in Jupiter, Florida. Mr. Lester has over 30 years of experience in corporate recruiting at all levels across a variety of industries.
Mr. Lester stressed the need to follow HR Recruiting Best Practices which include designing strong benefits packages instead of focusing exclusively on compensation.
Full Transcript Here
Hi, I’m Steff Chalk with the Plan Sponsor University and I’m here today with Marc Lester and Marc is Vice President of the Strategic Partnerships with the Plan Sponsor University. And I’m gonna be asking Mark a couple of questions with regard to how we can help human resources individuals and benefits directors in their recruiting efforts.
So Marc, I know you have over 25 years in that industry prior to joining PTSU. Could you share with us a little bit about your background?
Sure. Actually I have close to about 30 years in recruiting and I’ve recruited for a variety of companies and a variety of industries in a variety of places in the country. I work with hiring managers and company executives recruiting for many different levels of open positions ranging from entry-level college recruiting to executive recruiting within companies.
And what are some of the challenges that you see today in the marketplace with regard to recruiting and being fully staffed at an organization?
I see, probably the biggest challenge in today’s marketplace is the smaller number of people who are actually on a job search and I think that’s basically because of historically low unemployment levels and although that might be good economic news, I think it’s cyclical. I think it’s gonna change and I think company executives have to become aware of why a candidate should select their company over their competitors. And I think that becomes a very important question ’cause they have to realize that they’re recruiting not only from a pool of unemployed but they’re recruiting from a pool of people who are already working who might consider a job change based on an opportunity.
And then from the point of being in full employment or very close to full employment, what moves can a company make or can a human resources director make, in order to be in that company where the candidate says, “yeah I want to go there.” Versus another employer? What makes the difference? Why company A over company B?
That’s a … I think that is probably the most important question and I think in interviewing thousands of people over my time in recruiting and hiring or getting positions for thousands of people while I was recruiting, I think one of the overriding things that people are looking for is the leadership within the company, is the hiring manager and the personality, the core values of the company and or the compensation package and the future earnings that they have. And I think one of the more important things that employees look for in addition to that are company benefits which includes health care and retirement planning.
And what does a company do to demonstrate that competitive advantage to the candidate? So how do they take what you’ve just described and present that to the candidate so the candidate can have that ah-ha moment and say, “Gee, I want to go with Marc Lester’s company?”
I think that goes to the issue of primarily of what makes this company or your company different from the other company. I think in addition to the things I had mentioned previously I think they have to realize that when a candidate is being interviewed in a tight job market, they’re interviewing the company as much as the company is interviewing them and they’re seeing firsthand in addition to the research that they’ve done, they’re seeing firsthand from the hiring managers voice, the executive’s voice as to if that research is something that is based in fact.
I think there’s nothing more than levels the playing field more than the benefits that a company provides a particular candidate vis-a-vie healthcare and retirement benefits.
Okay, you see those two as being leaders?
I think they absolutely level the playing field between a small company and a large company and what a particular candidate might look for in a particular opportunity are things that could be done that could market you as a company that actually puts that front and center.
As we conclude I’d like to ask you a question about trends that you see in the industry and primarily trends in the area of hiring and trends in the area of managing benefits.
I think some of the trends are candidates are really investigating the company that they’re thinking of working for and they’re interviewing the company as much as the company’s interviewing them. They’ve done some research when they go through their interview they want to see if that research is factual and they’re really digging deep into it.
They’re also looking at their total compensation package and that goes well beyond just a salary that is being offered. In addition to the salary that’s being offered, it goes to a total comp package including the benefits. It’s very important that they find it to be a right fit. Both for compensation and for healthcare benefits and retirement benefits. And if they determine that that total package is a fit for them and their family, that could sway the playing field and I see that to be a trend going forward.
Interesting. Because years ago people would just look at the salary and they’d make their determination or they’d make their job move based on the compensation alone, so …
Yeah, it is and it is moving in that direction and I think it’s gonna continue to move in that direction.
Fantastic. Thank you, Marc.
And that concludes our program from 401k TV. Thanks for watching.
Latest posts by Fred Barstein (see all)
- 401k Plan Retirement Committee Keeps Retirement Plan on Track - September 22, 2018
- 3(16) Fiduciary Services Gaining Interest Among Retirement Plan Sponsors - September 21, 2018
- Retirement Plan TPA Services Are the Foundation of a Solid Retirement Plan - September 21, 2018