Shawnee Love   •  
May 27, 2011

In November, I blogged about the 3 common methods of recruiting:  Hunt, Fish or Farm.

Most companies are fairly short term focused.  When they have an open position they Fish by dangling an ad in front of a bunch of job seekers and hoping the right one bites. They don’t worry too much about filling future openings, because they will cross that bridge when they come to it. This strategy is very successful when there are lots of great people looking for work, which frankly with the exception of a few bubbles has been the case for most of my career.

Some companies (usually larger ones) will also practice Farming and cultivate their employees for future opportunities within the company. That means they have development plans for at the very least those who are considered high potentials and they spend money now on training these people with the idea that when the job opening occurs in the future, they won’t have to spend all that money on recruiting and training a new hire and instead will have someone on deck who is ready, willing, able and already a cultural fit. Great strategy as long as the people on deck don’t get tired of waiting or get poached.

Hunting traditionally was saved for larger organizations who could afford a head hunter (aptly named), but the invention of Linked In, means anyone in your company can hunt for the perfect replacement for an exiting employee.

Increasingly, we are seeing a new method of sourcing new hires, in the form of Mining.  Accounting firms have mining for new hires down to a science. They are in the universities the first day the business students enter the building and are shaking hands, sponsoring bzzr gardens and charity events, handing out swag, speaking, sharing, shouting for drinks, and generally doing what it takes to build relationships with new students in relevant programs.  They also attend every career fair and are on a first name basis with the career counsellors, to ensure no one can slip through the cracks. These miners recognize that they have to connect with a lot of students to increase their chances of finding a diamond in the rough. Like real Miners, they have staked their claim in the places which are most likely to have the greatest return on investment in the form of potential great candidates, and the money spent on uncovering these diamonds means they have a steady stream of applicants and an even greater flow of goodwill that sticks to the accounting firm long after degrees are awarded and students have moved on.

A word of caution about mining for candidates, it isn’t for the faint of heart as I am sure any true miner will tell you. The overnight strike it rich story is mostly a fairy tale.  Mining is a long term investment with substantial up front costs in the form of money and time, which may never pay off.  That being said, I see more organizations recognizing the potential upside to mining and including it into their company’s recruitment strategy.

Which method(s) does your company use to find new hires?