In Episode 38 of Best Hire Ever, Kris Dunn talks with Tim Sackett (HRU Tech, Fistful of Talent, The Tim Sackett Project) on the concept and value of attempting to create scarcity around your open jobs and working for your company. KD and Tim explore the best way to create this vibe of scarcity when you’re not Google, Apple, or any other premiere brand and you have hundreds of open jobs.
1:33 – KD and Tim intro the concept of scarcity based on a Fistful of Talent post Tim did. What is scarcity in your open jobs and how can you create that feeling when candidates look at your open jobs? How do we make them want to work with us more?
5:30 – KD and Tim talk about the impact of the online world to application volume — candidates have the ability to apply for anything anywhere, but what if they didn’t? What if the only way you could get a job was via referral from a current employee?
7:45 – Tim starts breaking down some of this ideas. Idea No. 1, wait for it… Pay way above the market to stand out. KD and Tim talk about what the right percent over the market rate is to create a form of demand and scarcity.
12:05 – Idea No. 2 in creating demand/scarcity is to offer something as a company no one else will match. Tim goes big and says, “We’re going to pay for college for your kids.”
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15:50 – Tim talks about investing in relocating talent to the extent they’re locked in for the long term with a company.
17:40 – Tim and KD talk about the messaging we send as companies related to what it really takes to be successful at a company — and how that creates scarcity because some people opt out, but the messaging/reality makes some people want it more.
20:45- KD notes that total transparency related to who you would work for (your new manager) and what makes them tick as a manager as a great marketing tool.