Why Company CVs Matter Here's how to better attract and retain top IT talent.
By Pavel Podkorytov •
Opinions expressed by Entrepreneur contributors are their own.
Talent capital is an integral part of any corporation's inherent value. It's not enough to simply fill vacancies; businesses must fill those spots with quality candidates if they hope to continue seeing success.
When a company's survival depends on its recruitment capabilities, that means it's time to step up the hiring game. Instead of looking only at how talent can impress you with their resumes, businesses should start polishing their own CVs to make themselves more appealing and understandable to potential IT candidates. It is worth understanding that talent gets a job in a company and leaves a specific manager and project. This happens because the standard job description does not give an understanding of which team the talent will fall into.
What your company CV should include to be competitive
For developers to be able to objectively evaluate recruitment offers and choose the position that suits their needs and goals, your company needs a CV that paints a complete picture.
Traditional job descriptions full of buzzwords and jargon are no longer enough. Experts advise adding important information such as:
An honest salary spread
A detailed description of the team that the candidate will be working with (whether there are a few junior specialists, or whether there're a middle and a senior from whom he can learn) and the team's vibe
A comprehensive list of responsibilities the candidate will be responsible for, including both individual and team accountability
An honest evaluation of working conditions
What the possibilities of relocation are
Informative descriptions of the current work processes and approaches used in the candidate's job role, goal and mission
A description of the process by which the work will be built, whether it is agile or waterfall
It's important to give candidates as much transparency and detail as possible so they can decide if they'll be a good long-term fit. This saves time for both parties.
Related: How Even the Smallest Startup Can Win the War for Talent
Great talent won't hesitate to jump ship
Why is it so hard for companies to keep top talent? A major reason is that the war for talent is constantly escalating, so there is more incentive for specialists to shop around for the best possible offer. The average work tenure for new IT specialists in most companies is about eight months — less than a year, and these top individuals are ready to spring for greener pastures.
It's common to think that the solution is to simply offer more competitive pay. Compensation is important, but only up to a certain point. In fact, most of these IT professionals aren't leaving for better wages. The real issue is an inherent mismatch between the individual and the team's culture, processes and purpose.
Companies need to start thinking of the recruitment process in reverse. Instead of waiting for candidates that they believe will be "a great fit for the team," they should consider whether or not the existing work environment and team structure are a good fit for the person they want to attract.
Recruiters look for hard skills, and they bombard talent with offers based solely on those metrics. This might sound great for candidates, but it's actually problematic for two reasons. First, 90 percent of recruiters simply don't offer enough useful information for the candidate to make an informed decision about actual work conditions. Second, there's no standardized formate recruiters use to make these offers. This means it's impossible to accurately compare offers to find one that fits.
So, while HR is rejoicing over finding someone who fits so well into the existing team, the individual is unhappy with the match and begins looking for somewhere better.
Related: How to Attract and Retain Top Talent
Relying on company reviews won't attract the talent you want
Anyone can do a Google search for reviews of a company before they apply or accept a job offer. In some cases, this can be useful for getting a less-polished peek into a business and its daily workings. However, company reviews — even the best ones — can't replace a dedicated corporate CV for the position available.
Large companies have so much diversity from one department to the next that, if they're not clear and specific during the interview process, the specialist they worked so hard to hire will not stay in the position for very long. This can lead to talent accepting a position with the company but then quickly leaving the original posting for a different manager and team.
In the same vein, it's even difficult for one department specialist to write a review that resonates with another specialist in the same department. Why? Because they're different people with different motivations. Sure, you might be comparing apples to apples, but every kind of apple has its own characteristics and taste, so it's still not as simple as you might think.
This is why your company needs an overarching corporate CV and a CV specific to the position you're recruiting for. The cornerstone of successful hiring is understanding that each talent is different. Some may enjoy shouldering responsibility for projects. Others might prefer to stay in the background and do a small segment of work. Some might crave constant challenge, and others might work best in a quiet routine.
Related: 3 Ways to Flip "the Great Resignation" Into "The Great Retention"
Companies can't afford to ignore the paradigm shifts in talent recruitment
Studies have found that at least 74 percent of employers admit hiring the wrong person for the job at least once. In most cases, it happens multiple times. The same research noted that this costs an average of nearly $15,000 per error.
In addition to this, the cost of losing a good hire is even worse. On average, it costs $30,000 to lose a good candidate. A staggering 66 percent of talent admitted accepting a job offer, only to realize the company itself was a bad fit.
These numbers make it clear that the current recruitment methods are not as foolproof as companies may want them to be. When it comes to attracting a qualified IT specialist, businesses cannot afford to take the risk of wasting time, energy and resources integrating a talent who is ultimately a bad fit for the company.
The truth is that companies can no longer sit back and wait for the right person to woo them with an impressive CV and memorable interview. The best candidates are now in extremely high demand, so they have their pick of opportunities.
Hiring top IT talent is essential yet more challenging than ever. The solution is for corporations to put together their own CVs and start looking for ways to make top talent look their way for the long haul.
