When recruiting new team members for your firm, how many hours does it usually take you to respond to ideal candidates?
Unless you get onto candidates within 24 hours of their applications, your success of securing them drops by the hour. It’s like sales. You gotta strike while things are hot.
The Pareto Principle, also known as the 80/20 rule suggests that 80% of effects arise from 20% of the causes – or in layman’s terms – 20% of your actions/activities will account for 80% of your results/outcomes.
Let’s apply this principle to your recruitment process:
When recruiting staff, we spend about 80% effort such as putting together a job description for the right candidate, drafting an advertisement, getting it published, paying the advertising costs, filtering through the resumes and doing all the interviews. That takes 80% effort.
But when we are slow in getting back to our top candidate and offering them the job (which takes about 20% effort) it can affect 80% of your recruitment outcomes?
You can find gold in your backyard, you might just be too lax to mine it. Until we adjust our thinking and give certain things priority, we will never change.
It’s not that the world has not enough opportunity, we just haven’t adjusted our sails to the wind.
Improve your firm’s productivity by focusing your staff on producing outputs and not focusing on inputs.
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