ARTICLE PROVIDED BY PMG EXECUTIVE SEARCH CONSULTANTS
Our clients often ask how they can better attract talent to their organization. We currently find ourselves in a candidate-driven market, causing a candidate shortage in many disciplines and industries. Top performers have options, so hiring leaders need to know what motivates candidates to choose one organization or opportunity over another. Candidates generally make decisions based on a combination of the “Five Fs”.
Those are Fit, Fortune, Family, Flexibility, and Fun. Individual candidates weigh the importance of each differently, so knowing what is most important to an individual candidate is vital to selling what your organization has to offer.
Fit – Overall cultural fit might be the most important component to a successful hire. Candidates evaluate what type of fit an organization will be based on their own leadership style, personality, interests, etc. Hiring leaders need to sell candidates on what makes their culture unique and why it will be a good fit based on discussions throughout the interview process.
Fortune – Compensation is normally one of the key factors for a candidate evaluating a new opportunity. It is important to know the market and what type of compensation package will be necessary to attract top talent in your industry.
Family – An interviewer should have discussions early in the process about how a new opportunity will impact the candidate’s family. Identifying potential deal breakers early can save a lot of time. If there is relocation involved, an interviewer should understand what factors will be at play (kids in high school, spouse with a job, etc.). Beyond relocation, there are several factors surrounding a new position that impact a candidate’s family decision (health care, travel, commute, hours, etc.).
Flexibility – Flexible work arrangements are important to many candidates. Flexibility can include work hours, ability to work from home, time off, and overall autonomy. The amount of flexibility in a position can be a major selling point or detractor, especially in certain disciplines or industries like IT.
Fun – Naturally, people want their job to be enjoyable. Candidates seek positions where they can have great impact and enjoy the team they are working with. Over time organizations develop reputations regarding their work environment. Candidates will be more likely to accept a position if an organization has a reputation as a fun place to work.