Want to hire and retain the best talent in the town? Collaborative hiring is the answer. It is because collaborative hiring involves communication and teamwork. Research indicates that to become 4.5x more likely to retain the best employees, the companies must communicate effectively.
This communication starts from the day you plan your hiring activities. For instance, the job design process begins with job analysis that leads to creating job specifications and job descriptions.
The job specification and description are then rolled out to the potential hires by advertisement or any other channel. The job specification and description are often limited to a length equaling one page, but they indicate your way of communication.
If your written communication is effective and captivating, let alone the active job seekers, your job specification and description will lure passive job seekers as well.
As the potential hires move along the hiring process, they will evaluate you for their expectations from an ideal workplace. One of their expectations is communication, which will be reflected by how you hire.
Collaborative hiring requires the panel to have effective communication and collaboration. So, if you use collaborative hiring strategy, you will retain your employees better than if you hire them by any other process.
In this article, we will take you through the explanation of collaborative hiring and the five reasons why employers should consider it. So, let’s start:
What is collaborative hiring?
Have you ever wondered why an HR, whose technical knowledge is limited to the core HR functions, would hire a candidate for the departments other than HR, such as Marketing and Finance? Collaborative hiring is an answer to this question.
Collaborative hiring requires companies to hire new employees collaboratively. It means that the hiring panel must be diverse in terms of departments; it should include a person from the Marketing department, a person from the HR department, and so on.
For instance, when a copywriter is being hired, individuals from different company departments must work together to plan the hiring process up until the candidate’s onboarding.
Collaborative hiring comes will a lot of benefits. When done right, collaborative hiring can be advantageous for employers and employees alike.
Employees won’t feel like they’re stuck in a job that doesn’t utilize their skills, leading to employee disengagement or even resignation. Employers will also benefit because it could lead to higher retention rates and increased productivity.
Collaborative hiring can be highly beneficial for employers for many reasons, five of which are mentioned below. Read on to see why should you consider it:
1. Increased team productivity
A collaborative hiring strategy allows you to tap into the best of the best in your industry. This means that when you bring people onto your team, you’re not only bringing on their skills—you’re getting their expertise.
For example, let’s say your company is looking for someone who’s skilled in both content and marketing. You know that this person will be able to take on a number of tasks and provide an overall level of expertise that surpasses what any one person could do alone.
If you were to hire separately, you might get a content writer and a marketer. This way, you get to pay more. Or, if you hire one and make them learn the other skill, either they won’t accept that new task wholeheartedly or won’t be able to perform that effectively.
This issue arises when you hire them with a traditional hiring strategy—one individual hires them all regardless of their technical knowledge of the required talent.
But with collaborative hiring, you’ll be working together with individuals from both marketing and content departments during the hiring process.
It ensures that you get someone who manages both aspects of your business altogether. That way, you can get more done in less time without compromising the quality of your work.
Additionally, if there are changes within either department, you’ll be able to adjust accordingly because you will have designed each job with flexibility in mind.
2. Improved company culture
The team-building aspect of collaborative hiring can be great for company culture.
Companies are more likely to have a strong sense of teamwork when they’ve been built through collaborative hiring. This is because they are made up of people who share the same goals, which is something that isn’t always guaranteed with traditional hiring practices.
Collaborative hiring improves company culture by creating an environment where people feel supported and appreciated, making them feel like they’re contributing to something essential and meaningful.
They’re no longer just working for a paycheck. Instead, they are part of a team that shares their vision and values and has their back.
3. Increased employee engagement
Another best thing about collaborative hiring is that it can increase employee engagement. The more people are involved in a project, the more likely they are to be invested in the outcome.
As per a study, feeling disconnected from an organization is the reason mentioned by 27% of the employees who left their jobs in the first year of their joining.
If these employees turn out to be the ones at the higher positions in your company, their resignation may be a significant loss for your company. Besides, hiring a suitable person again for that position is another challenging, costly task.
The solution to this problem is to keep them engaged, and you can do this by collaborative hiring. This hiring strategy improves employee morale and increases collaboration among them. It ultimately leads to higher levels of job satisfaction and increased productive output.
Collaborative hiring also lets you hire qualified candidates. Hiring someone who is qualified for the position makes employees feel valued and appreciated, which can also increase engagement rates.
It means employers will need less time to search for new talent when an employee leaves, so they can focus on getting them trained instead of combing through resumes all day long.
4. Improved interview process
When you use collaborative hiring, your interview process becomes more efficient. You’ll be able to gauge the candidate’s skill level and personality much more quickly and effectively.
In addition, because you involve more people in the hiring process,it will be easier to find the best person for the job.
Every individual at your company is an expert in their own domain. For instance, a marketing person knows the technicalities of marketing. The same goes for the finance department and others.
Also, it is essential to remember that an HR person is not as good at technical knowledge of finance as a finance person would be. So, when hiring a finance person, you can’t expect an HR manager to hire the best without collaborating with a finance person.
The HR member doesn’t know the ground realities of the finance department, so they would not be able to assess an applicant for a finance job as good as a finance person.
During an interview, a finance person would be asking them the core, technical questions to assess their technical knowledge of the job. On the other hand, people from different departments, including HR, may ask them generic questions for their Person-Organization (PO) fit assessment.
Collaboratively, they would be interviewing to find a gem for the organization.
5. Reduced idiosyncratic raters effect
Oftentimes, applicants for a job are rated and assigned a score that indicates their success for that job. The scoring criteria may include the candidate’s credentials such as previous work experience, the relevance of certifications and publications, formal education, hobbies, and interview performance.
During this whole process, the candidate is being evaluated and rated. What’s worst, the studies have found 61% of the rating is not the candidate’s rating but the rater’s rating of themselves. It is what they name idiosyncratic raters effect.
Though unintentional, the raters rate biasedly, limiting the possibility of shortlisting the right candidate. However, the collaborative hiring strategy mitigates its effect.
Since people from different departments, all having different frames of reference, evaluate and rate the candidates, you can minimize the idiosyncratic raters’ effect. It helps companies find the right person for the position, not the one who’s right for the evaluating individual.
In conclusion, collaborative hiring circumvents the traditional hiring process by incorporating multiple minds of your company in the hiring process. You get to hire the top talent with a green single from each department’s person.
We hope you enjoyed this article. These days, employers want to look for candidates who bring the company the most value.
This is where collaborative hiring can really help; giving employers a way to find the best possible talent for their company. We hope this article was able to provide you with some helpful knowledge.
Thank you for reading; we are always excited when one of our posts is able to provide helpful information on a topic like this.