A guide to hiring

A guide to hiring

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Summary

From a selection of our articles, we have put together a step by step guide on the best ways to hire from our perspective, from start to finish.

Hiring a team is such a crucial aspect for a business to grow and go in the right direction. Your staff can become your most valuable asset so it’s important to execute this in the most efficient way possible.

From a selection of our articles, we have put together a step by step guide on the best ways to hire from our perspective, from start to finish. 

When to hire

There’s a tricky balance to strike here between hiring for the sake of it and avoiding hiring so late that it affects your growth.

In a nutshell, hire when you can foresee a lack of skills or capacity that would slow down your growth. And you have the funding to pay their wages! Before that if you’re still in the early stage, put in the very hard yards yourself (as doing more yourself & developing your own skills takes less time than hiring & managing others)

Full article here

How to attract the best talent to your organisation

Tell people about your background and help them understand who they will be working with. The more you can flesh out what your team, mission and progression look like the more top candidates will engage. Job descriptions are typically describing a role in a company, not selling it. Remove unnecessary detail; ensure the company, team and role are being sold; draw out some clear selling points based on the needs of the talent.

Full article here

Whether to hire perm or freelance or both

When deciding whether you need to hire a perm or a freelance employee, start by sketching out a basic organisational structure (i.e, what teams you foresee). Then go through and determine which would genuinely benefit from being full-time employees and which could be part-time/freelance or an intern.

It’s important to consider these factors before making the final decision:

  • How important is it that they make an instant impact?
  • Will they be solving a long-term or a short-term problem?
  • How exciting is the role?
  • Could you use the path to take a freelancer into a permanent role?

Full article here

How to write a compelling JOB DESCRIPTION; the benefits of displaying salary

These are the must-haves of any job description.

  • The hook. One sentence that sells the role.
  • The sell story. A paragraph to elaborate, and further explain the “hook”.   
  • The company. A couple of paragraphs explaining what the company does and why it’s great. 
  • The team and company culture. The most important part of any job is the team you work with.
  • The job. A further description of the purpose of the role in the business, and an idea of what they’ll actually be doing.
  • The requirements. The non-negotiable elements that all candidates must have to apply for the role. 
  • The practicalities. Salary banding for the role; whether you can sponsor applicants

By adding a salary range to your role, candidates can accurately determine if the role is a genuine “fit” for them. Something that is increasingly hard given job title inflation. This helps to overcome the “it’s probably not for me” psyche, as well as reducing inappropriate applications.

Full article here

How to design & run a great interview process

Our golden rule is that it’s better to do a 15-minute video call with 10-15 candidates than decide on 4-5 candidates to meet in person purely on the basis of paper. Experience shows that very rarely do your favourites ‘on paper’ remain the front-runners after an initial chat. 

Also, why have 12 rounds strung out over 3 months? It wastes a huge amount of your time. The best candidates always have irons in the fire. Chances are, by the time you’ve finished, your preferred candidate has taken something else. A long process can suggest to them that you’re not particularly interested.

Full article here

When to stop advertising (so you have the right number of people in the pipeline)

If you can’t cope with the volume of applications, it’s time to stop advertising. By cope, we mean getting back to every single applicant within 2 weeks of application. Advertise opportunities for a far shorter amount of time. Close off the ability to apply, while you process those who have applied already. And if none of those candidates work out, just turn the tap back on again – confident that the flow of new interest will be pretty much immediate.

If you take 2 weeks to get back to a good candidate, guaranteed they’ll have other irons in the fire already. Younger companies would get back within 1 day or 2. They might even have an offer out within 2 weeks. 

Full article here

What you need to pay,  elements of a package

In all company types, the proportion of the value of total compensation made up by the ‘cash’ (i.e, basic salary + bonus) element, decreases with seniority. This is particularly stark in start-ups and private equity, where the majority of the value of compensation at senior levels is in equity. The trend is the same in corporates, but to a lesser extent.

In consulting, earnings are on average £45-270k, depending on seniority and the type of consulting firm. At junior levels, corporates and consultancies pay better than start-ups. However, the opposite is true at senior levels in a start-up. This is driven by the value of equity. Up to Manager level, consulting pay exceeds corporate and start-up pay; eclipsed only by private equity. However, senior level consultants are paid between 10-30% less than their peers ‘in industry’ – both corporates & start-ups – as the value of share options kicks in. 

Full article here 

What great onboarding looks like

When a new team member joins, you need them to be as impactful as possible as quickly as possible. This takes more thought than you may first realise.


So think through:

  • What they and you can sort in advance (useful background reading, PAYE admin, IT equipment, system set up);
  • Planning for week 1 (combination of introductory sessions and learning through doing).  

When you’re doing this thinking, try to construct and codify a process that you can repeat for all new joiners. That way you’re not having to reinvent the wheel every time and can have some template emails and documents saved. 

Full article here

We hope you found our hiring guide insightful, you can download out PDF version by clicking on this link. If you want to find out more about hiring click here.  If you’re interested in hiring, get in touch by emailing info@movemeon

 

Some of the great employers movemeon worked with last month:
Rentalcars.com, Amazon, Coca Cola, Jaguar Land Rover & more

 

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