So what is it that makes certain teams high-performing and causes others to fail? It starts with viewing human capital as a strategic leadership opportunity. Though hiring is never easy, the right investments in talent can lead directly to a better bottom line.
The number one mistake that companies make is failing to sustain a talent mindset. This is the core belief that your human capital is the only thing that will allow you to maintain an advantage over time. Without this mindset throughout your company, you are missing an opportunity to maximize the revenue that HR departments can generate.
The second mistake is failing to connect each hiring decision to your company’s strategic plan. How do you want your company to look in the good times, and how do you want it to look when things are falling apart? How are your hiring practices helping you achieve that goal?
The final mistake is practicing fear-based hiring. Rather than seeing talent as just a body for a seat or a way to maintain headcount, every individual must be viewed with a potential-based mindset. Never miss an opportunity to ensure a hire is adding maximum value to your company.
Getting the best talent begins with getting the best talent recruiters. You need somebody that has a curiosity toward every facet of the business. They must be ready and able to find the talent that can meet the needs of the company as a whole, not just their department.
This shift requires top-down mindset changes. Company leaders must be willing to see human capital as the single most important investment in the future success of their business. You can be outdated very quickly in any industry, but it’s your people that are the competitive advantage.
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