Tag Archives: Opportunity Cost

Lean Recruiting & Just-In-Time Talent Acquisition Part 4

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Lean, Just-in-Time Recruiting

If you haven’t already done so, be sure to read parts 1, 2, and 3 before reading this post.

In Ben Franklin’s the Way to Wealth, he talks about the issues associated with carrying unnecessary inventory, “You call them goods; but, if you do not take care, they will prove evils to some of you…You expect they will be sold…but, if you have no occasion for them, they must be dear to you.”

If Ben were alive today and in the recruiting industry, he’d tell you that building, maintaining, and managing the turnover associated with in-process candidate inventory (traditional candidate pipelines) consumes a great amount of time and effort which ultimately may provide little-to-no value to candidate or client alike, at great cost to you.

So how can recruiters go about creating more value for their candidates and hiring managers with less work? Continue reading →

Lean Recruiting & Just-In-Time Talent Acquisition Part 3

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Lean, Just-In-Time Recruiting

In Part 1 and Part 2 in this series, I explored many of the intrinsic limitations and hidden costs of traditional candidate pipelining – sourcing, screening, and “keeping warm” candidates for which you do not have a current need.

To recap, traditional candidate pipelining:
  • Is a “push” based strategy that is not based on an actual customer (client or candidate) need
  • Often results in recruiters pushing their candidate inventory (what they have on hand) to clients rather than going out finding the best candidates
  • Creates a work-in-process inventory that is highly perishable and requires significant time and effort to maintain
  • Poses an opportunity cost when recruiters spend time re-qualifying and re-verifying the availability of their candidate pipeline when an actual hiring need arises
  • All of the time and effort spent maintaining relationships with candidates that will never be submitted to a hiring manager, interviewed, or hired is waste – it provides no value to candidate or client alike
  • Creates 5 of the 7 classic wastes of Lean production: over-production (recruiting more candidates than necessary), over-processing of candidates that will never be advanced in the hiring process, excessive WIP inventory, defects (candidates who do not match actual hiring requirements), and waiting (the vast majority of WIP candidates never move forward in the hiring process and spend most of their time waiting for something to happen that never happens)

Now that I’ve bloodied my knuckles putting a serious beating on candidate pipelining, let’s explore what I think is a better way to get the job done and provide value to candidates and clients: Just-In-Time (JIT) recruiting. Continue reading →

Lean Recruiting & Just-In-Time Talent Acquisition Part 2

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Lean, Just-In-Time Recruiting In Part 1 of this series, I explored and challenged the practice of traditional candidate pipelining.

Some people may have interpreted my last post on the subject to mean that I don’t believe in any form of proactively building candidate pipelines. That would be incorrect. Anyone that really knows me knows that I am not a black/white, either/or kind of guy.

What I am is the kind of guy that will tell you that anyone who says there is only 1 way to do something is ALWAYS wrong, because there is always more than 1 way to do anything. I’m also the kind of person who wants to find the BEST way of doing a thing – I am not satisfied to do things “the way they’ve always been done,” nor will I blindly accept what other experts tout as best practices.

There is always a better way.

The comments I received from Part 1 in the series were fantastic! They gave me significant insight into what many of the industry heavyweights think – and it’s obvious that traditional candidate pipelining is alive, highly valued, and practiced often.

At the end of Part 1, I mentioned that the ugly truth is that proactively pipelining candidates ahead of need has many intrinsic limitations and hidden costs that no one seems to want to think or talk about.

So let’s talk about them. Continue reading →