This article is excerpted from Chapter 6 of The Recruiter's Handbook: A Complete Guide for Sourcing, Selecting, and Engaging the Best Talent (SHRM, 2018).
Typically, there are three options for businesses needing talent: “BUY”, “BUILD”, and “BORROW”. We can understand this 3B approach as follows:
- “BUY” - Recruiting personnel
- “BUILD” - Training employees to take on new roles
- “BORROW” - Hiring freelancers or consultants to carry out projects
However, each approach has its strengths and weaknesses.
3B TECHNIQUES IN BUILDING A RECRUITMENT STRATEGY
1. Use “BUY” to find talent
One of the inherent benefits of recruiting talent is that businesses can add skills and experience that they lack. If a business is planning a new project or expanding its scale, it will obviously need experienced managers to coordinate.
In addition, recruiting more personnel is like breathing new life into a business, bringing in many new aspects and perspectives.
A reality in business is that today's thriving businesses owe their success to a renewed workforce, which allows them to adapt to trends and reach new heights.
The disadvantage of talent recruitment is the cost. Talented individuals prioritize opportunities for advancement, benefits, and salary. This is why businesses are constantly competing, either to retain talent or to attract talent.
Furthermore, cultural factors are a drawback. Even with a reputable employer brand, new employees may struggle to adapt or understand the company's unique culture.
Therefore, talent recruitment isn't just about finding skilled individuals; it's about finding someone who fits the company perfectly. That's the ideal talent profile every business should strive for.
2. Meeting Human Resource Needs to Implement a “BUILD” Strategy
Businesses wanting to cultivate talent must focus on building skills and experience that meet employee needs. This is an extremely effective way to utilize a company's human resources. Training talent can be less expensive than hiring new employees or outsourcing services.
Furthermore, human resource training creates opportunities for career advancement, positively impacting the relationship between employees and the company.
Employees will understand that the company is willing to invest in them, provide opportunities for advancement, and recognize their contributions.
On the other hand, this training is time-consuming and long-term, sometimes yielding unsatisfactory results.
Therefore, it is necessary to identify the goals and needs of the employees receiving the training. Understanding their behavior and capabilities will make it easier for the company to develop its human resources.
Importantly, businesses must remember when conducting internal employee training that a well-planned training program is essential. Skills training programs must be based on employee needs, because the effectiveness of the training depends more than half on the employees themselves.
The most crucial aspect of a human resource training strategy is building an effective long-term strategy. This creates a fixed timeframe for the business to allocate resources for training.
An effective employee training strategy is one that ensures a stable workforce. Clearly, businesses don't want to train employees only for them to leave. Alongside training, retaining employees is another challenge for businesses. Don't fear "being poached"; in reality, training and developing talent is a way for businesses to retain employees and build strong relationships between them and the company.
One thing businesses often overlook is training their succession team. It's best to start planning for succession now, as it takes time to observe and identify the right person.
The golden time to build a talent development strategy is when businesses proactively address their personnel issues. Plan ahead and develop a strategy before you even need it.
3. “BORROW” – Borrowing from outside to temporarily meet staffing needs
Instead of hiring a full-time employee, many businesses choose to hire freelancers, contractors, or external consultants to serve their specific needs. There are also contract employees, seasonal employees, and part-time employees.
To successfully implement this strategy, businesses need to consider “reserve employees” as an essential element in their human resources strategy.
The biggest advantage of this strategy is that resources are used efficiently, and the business only needs them when necessary. Additionally, companies can use it to "attract talent"—employees from other businesses seeking an outside job (side job) can be recruited after a short-term collaboration.
However, maintaining harmony between temporary and full-time employees is a challenge. The benefit of this strategy is that the business always has skilled, experienced individuals who are ready to work when needed. Simultaneously, the business can select and retain a diverse range of talent.
This also creates a threat to current employees; they fear losing opportunities and often feel threatened by these temporary employees.
Businesses should maintain a connection between both parties when working on a project; this is a skill that needs to be developed at all levels. Managers play a coordinating role not only in managing and operating the project but also in fostering harmony between employees from both sides.
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