|Have you ever felt you can’t grow your team because of high salary expectations? Or that you cannot attract the right people because you cannot compete with the companies that can afford to pay higher salaries?|
One of the key components of being able to build high performing teams is how you brand, and position your company in the hiring process.
It is very interesting that in sports, we see top players who will change teams, and move from a premier team to join a smaller team or a lower-ranked team. (Remember Billy Beane and Moneyball? the Oakland A’s)
The smaller team might still be a medium sized and successful company but in comparison to the A League, it will be smaller! The lower ranked team may not be able to pay the same. And imagine at local club level sports teams where there is zero pay, and in fact you pay for your own club membership?
Why would top players move teams or clubs when the pay is less?
I will answer this further below. This is 100% related to your hiring strategy.
Hiring Strategy doesn’t just mean how many people are hired or what their salaries are.
It is “How do we attract, select, negotiate and onboard the team that will deliver the company strategy?”
|Do they really need to be expensive, with exact qualifications and experience?|
What is each team and team member required to deliver?How is each current and future team member assessed to have the best chance of them delivering?
|Why would top players move teams or clubs when the pay is less?|
Simply, they are motivated by other more important factors. One very key factor is they are looking for a challenge. This is something that is really important about how you attract and find people.
Selling challenge, is much more important than selling entitlements and benefits. This not only impacts the quality and performance level of the person you attract, it also correlates with how long someone is likely to stay in the future and how easy they will be to work with.
This is one of the biggest issues when companies headhunt staff from competitors and do so with the promise to offer more money for the person to leave and join the new team.
There is much to know in this area and how you position yourself and your hiring will help you hire more of the right people and create rewarding and satisfying careers for your team.
We look forward to understanding your vision and working with you on developing the right strategy for your team and business – especially if you don’t have the financial buffer for making mistakes.