The competition is so stiff for tech companies, that only the clever ones can survive. And now, competition has breached the sales threshold, companies are now fighting each other for important business capital: manpower with technical know-how. Hiring and retention of employees in big companies must now be dealt with cleverly, or else lose the chance to go further in the market.
To go big, follow the steps of giants like Facebook and Google and use their newest technique: acquisition hiring. These corporations do it the ninja way—creeping up on technical labor force insidiously, later becoming the masters of the best employees, and winning the competition.
Start with the Startup
New or startup companies are vulnerable to the competitive market, yet often host the most brilliant minds out there. Hiring and retention experts regard these companies as a goldmine of manpower that they would otherwise fail to acquire in conventional hiring. Take advantage of these companies’ stature and if possible buy start companies, where the potential of the people are likely underused. Startup companies are usually built by individuals who are repelled by the bureaucracy of large companies, and are therefore not probable to apply jobs at traditional businesses.
Acquiring these companies could mean acquiring the people behind them, so do your best to entice their employees with more stable incomes and benefits. As these start-up talents are usually the types repelled by corporate culture, show them how being part of a big and stable company has its own incentives.
Leave the Lift-Outs, If You Can
Some companies simply cannot absorb other companies, however small they may be, and opt to take good talents one team at a time. This strategy in the hiring and retention of employees could work, but more talents await those who could afford acqui-hiring. If you could, use both strategies, depending on the value of talent you can get and the resources available for recruitment.
Recruit the Best Recruiter
To create the best recruitment strategy, invest in the best recruiter. Recruitment officers should be bold and tactical, and must be able to weigh the pros and cons of using one recruitment strategy from another. Your recruitment department must develop good hiring and retention processes, where the quantity of resources of the company is not sacrificed for the quality of talent you hope to employ. Delays and production interruptions that can be caused by acquiring companies for new talent should be considered, as a wrong move could prove more disastrous to your company.
Business competition takes more wits than brawn to win. In the case of Facebook and Google, their evolving strategies in the hiring and retention of brilliant technical talents were worth the trouble. Now, they have expanded their range of products and services, thanks to minds that independently developed them. They now reap the fruits of these independent projects, minus the costs it would take to create new products. So be bold and scout for new talent, and recruit the best people who will make you the best in the competition.
© 2013 Incedo Group, LLC
