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McBride for Business Blog

Recruiting Employees From Competitors

December 6, 2017 // R. Shawn McBride // No Comments »

R. Shawn McBride recently spoke about recruiting from your competitors and what employees want.

Folks, Shawn here with you. Maybe you’re thinking about recruiting employees from your competitor. And you know what, this can be a very good strategy because those people already have information and knowledge about your industry. They may be up to speed. Assuming there’s not non-disclosures and non-competes in place, you might be able to move employees into your organization very quickly and move forward fast. But you’re probably struggling with how do I get those employees to come over? What is the secret sauce?

Well, the obvious thing that a lot of people try to do is just throw more money on the table. More money; more benefits. But this is a very fleeting strategy because it becomes a race to the top. Much like we have a race to the bottom with price competition when you try to be the lowest price, when you try to have the highest salary you have a race to the top. And honestly, you’re not creating a great environment for your workers. Just more money doesn’t necessarily make people happy. Eventually, they get used to the income level and they hate the drudgery of coming back to a bad job that they dislike.

So how do you do it differently? How do we do more? What do we change? It’s about your business model. It’s about what you have going on and making it align with your employees. How do you make jobs that are desirable for people to do? How do you fit people into particular roles? And then, how do you have advancement opportunities that are geared to them and it meets their lifestyle?

This is really where you can pick up a competitive edge. It’s about tailoring your labor needs and your business model to match each other to make something very powerful to attract employees. When you have something nice going on, when people enjoy working for your company, when they see that you’re doing well, when people are engaged– so much of this is about engagement. Most companies – people aren’t engaged.

Engagement statistics show only about 30 something percent engagement rate. When you start having a high engagement rate at your company, people start seeing great things at your company, they’re going to commit. So how do you get people from your competitors? Tweak your business model. Make it a desirable place to work. Tailor career opportunities and job functions to what your employees want to do. The more you can blend that, the more you can have an organization that reflects the reality of the human beings that are going into it, the more you’re going to do.

Maybe you’re struggling with this and other issues. Reach out to us. We have a lot of blogs, videos over at the McBride for Business YouTube channel and videos over at R. Shawn McBride Fans and Audiences. Link up to us on all those. Give us comments. Let us know what you’re struggling with. We’re preparing content for you to help you do more with your business. So, reach out. Let us know what we can do. Let us know how we can help you, and we’ll be moving forward.

I’m R. Shawn McBride. It’s been a pleasure talking with you. Make sure you get your free business valuation checklist. And if I can help you in any way, including speaking at your next conference or event, just reach out. I’m here for you. R. Shawn McBride, talk to you soon.

Make sure you download our free checklist to assess your business.  

 

This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique.  Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Jimbo454.

 

About the Author

R. Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment, gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can email R. Shawn McBride or (214) 418-0258.

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Posted In: Business, Growth, Management



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