Why Emerging Brands Must Devise a Hiring Strategy
Building a Franchise brand is no easy task. One aspect that can be especially challenging to new franchisors is hiring. Once you find the right people to operate your franchise, then comes the even more daunting task of helping them find and hire the right people to keep it running. Unfortunately, because of the nature of operating a new franchise location and the other stressors that come with it, the hiring process is not often given the proper attention it deserves.
Today, Hireology is here to review the reasons why it’s critical for your brand to impose a hiring strategy before jumping into the process.
- High-priority hires
Before you start hiring, ask yourself what positions are immediately necessary to the successful operation of each of your franchise locations. This question will help you understand which roles you need to fill and how quickly you need to hire them. Emerging brands are in a unique position where they’re still trying to work out the kinks of their franchise system and determine what the most efficient structure is. It’s the critical moment when you’re finding out what management structure and styles are most effective. At the same time, you’ll need to develop a compensation policy that aligns with the level of importance and impact your top new hires will have on your franchise system. Salaries need to be competitive enough to attract top talent but won’t undercut profits.
- Time-intensive processes
According to the most recent data from management advisory firm CEB, the average time needed to hire a new employee is 68 days. Just five years ago, that number was as low as 26 days. In some cases, the time is necessary because employers need to thoroughly vet candidates and perform more in-depth background checks. For emerging franchise brands trying to build the best team from the get-go, it’s important to get a head start on attracting, recruiting and interviewing the most critical employees.
- Impact of local labor market
One of the most important aspects of your hiring practices is geographic availability. The labor market where you plan to develop your first few franchise systems will have a major influence on your ability to source and bring on board the best candidates. Before you even create the job advertisements, you have to consider the local job market. Opening up the job market to hire from outside the areas in which you’ll develop your initial footprint will change the way you hire. Consider what types of technologies will be necessary to scale this process and how it will impact the speed to hire.
- Skills and culture
You’re not only building a team of talented individuals; you’re also cultivating a brand culture. The employees that make up your first few franchises will have a massive influence over the direction that your company takes further down the road. While you can train for certain skills and capabilities, it’s difficult to train for culture. Make certain you have developed clear, concrete character identifiers that align with the ideal people and roles to fulfill your franchise brand’s mission.
Building the best team of employees does not happen by accident. Among other things, it requires an emphasis on efficiency, smart use of technology, a scalable system and design that integrates with human resources planning. These were just a few examples of best hiring practices, to see the full list click on the link below to read our new eBook titled The Best Hiring Practices for Emerging Franchisors to help give you insights into how your franchise brand should be hiring.