Talent Acquisition Strategies for Highly Competitive Industries

Talent Acquisition Strategies for Highly Competitive Industries

Hospitality, entertainment and logistics – three multi-billion dollar industries that employee thousands of Aussies.

The other thing these industries are known for is being highly competitive when it comes to talent acquisition. When people are a key differentiator for your business, you want the best.

And organisations are willing to pull out all the stops to get it.

As the labour market continues to challenge us, we at Aurion thought it might be helpful to share some of the strategies that highly competitive industries we work with use when trying to attract the best talent.
Workforce Planning Is Conducted Regularly

When you’re constantly in a talent acquisition mode, you have to understand talent supply and demand. You need to regularly look at what is happening in the labour market, particularly in technical roles like culinary and flight operations, where having specialised credentials and licenses were necessary.

Successful Recruiters Don’t Wait For Requisitions

Because it’s common to be looking for a needle in a haystack when it comes to managerial positions, if you find someone who is a fit, hire them. If they are the right person, they will be capable of being flexible about their responsibilities. Ultimately, the new hires will pay for themselves.

Hiring Managers Should Be Engaged In The Process

Since managers know they can hire the right talent without a requisition, they are usually very engaged in the hiring process. This doesn’t mean they shouldn’t consult HR or that the sources surfaced by talent acquisition. It simply means that “everyone” is a part of the recruiting effort.

Treat Candidates Like Customers

People who apply for jobs at a hotel, theme park, restaurant or airline could also be customers at the hotel, theme park, restaurant or airline. So, your goal should be for every candidate to remain a raving fan of the business – even if you turn them down for a job. One of the biggest ways to do that is by following up with every single applicant.

Pre-boarding Includes Learning The Product Or Service

Don’t get us wrong. There’s a lot of value in having candidates pre-board by completing new hire paperwork. But take the extra step of making sure new hires are able to experience the product or service. For example, front desk agents spent a night in the hotel to experience the place the same way a guest would.

With unemployment at historic lows, organisations everywhere might consider themselves in a “competitive industry” situation. And it’s important to note that competition isn’t reserved just for your industry. If the majority of the jobs you hire have lots of transferable skills, geography can also be a competition. Working in a highly-competitive industry can really keep you on your toes.

So, as you’re entering the end of the year, think about your candidate and employee experiences. Are there activities that talent acquisition should commit to, like making sure every applicant gets a reply? Now’s the time to start putting those implementation plans in place. Because by all indications, the recruiting function in 2019 isn’t going to get any easier!

2018-12-02T23:12:24+00:00 Tags: , , |

What Payroll Errors Really Cost

What Payroll Errors Really Cost

Payroll is usually one of the largest expenses for a company and can get even more expensive when mistakes happen. What kind of mistakes, and how do these mistakes happen?

Let’s take a look.

Compliance Errors = Penalties

Complying with all existing laws your business falls under is difficult, but the cost of non-compliance can prove significant. Since there are many laws focusing on the aspects of payroll, it’s vital steps are taken to follow those laws. If payroll errors lead to late tax payments, incorrect salaries or incorrect employee details – you’re subject to major penalties and other repercussions.  

Misclassified Employees = Retroactive Taxes

Your staff is either classified as permanent, part-time or contractors. When workers are classified as employees, as an employer you’re responsible for paying overtime, benefits, superannuation, insurance and payments like paternal or maternal leave. When a worker is listed as a contractor, these payments differ or don’t exist at all.

If a contractor is incorrectly listed as an independent contractor instead of a full-time employee, for example, it can prove costly, You may need to retroactively pay overtime and back taxes, and your company is then out under the spotlight by Fair Work.

Fixing Errors = Labour Hours

No error can be left uncorrected when it comes to payroll. Records must be accurate, the ATA must have every cent accounted for, and employees need to be paid their due. If mistakes are made, hours are spent correcting those mistakes instead of doing actual productive work.

In some cases, correcting mistakes may take more time then the payroll did in the first place. These same errors can be hard to identify and even harder to rectify. This will impact your bottom line.

Short Payments = Lost Trust

Your staff count on their weekly, fortnightly, monthly or annual pay to be correct to the cent. When those paychecks come later than agreed, or are not the amount listed in the contract, it can affect their personal life and lead to extreme dissatisfaction in their role. Besides a personal issue, this effects productivity and attendance, even if it only happens the once.

Payroll Error Turnover = Hiring Costs

Employees may decide to leave if there are regular payroll incidents. These employees need replacing, meaning incurring costs from recruitment, time spent interviewing and more spent training. Since turnover may increase due to payroll errors, this will lead to higher than projected costs, ruining your budget!

Aurion = Preventing Payroll Errors

Having Aurion manage your payroll means the piece of mind, it means no errors and it means satisfied employees. Manually calculating payroll leaves your business open to errors. Remove the risk entirely by joining up with Australia’s most trusted payroll solutions provider!

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