The strategy to fill recruitment gaps in a microfinance company focuses on three main approaches: leveraging online job portals, utilizing employee referrals, and partnering with educational institutions. The first approach involves identifying the most popular job portals for finance professionals and creating compelling job descriptions to post on these platforms. This also includes using premium services for better visibility and setting up automated responses to candidates. For example, job descriptions should highlight growth opportunities and benefits to attract top talent.
The second strategy leverages employee referrals by developing a referral program with attractive incentives for current employees. Key actions include clearly communicating guidelines, creating an easy submission process, and acknowledging every referral. For instance, offering training sessions on identifying potential candidates can further involve employees and increase the referral success rate.
Lastly, partnering with educational institutions targets students and graduates from top finance programs. This involves participating in career fairs, offering internships, and hosting workshops to establish the brand’s presence. Activities like guest lectures and structured graduate programs can attract fresh talent early in their careers, providing a steady pipeline of potential employees.
The strategies
⛳️ Strategy 1: Leverage Online Job Portals
- Identify and list the most popular job portals for finance professionals
- Create compelling job descriptions highlighting benefits and growth opportunities
- Post job openings on selected job portals
- Set up automated email responses to acknowledge applications
- Regularly update job listings to keep them relevant
- Use premium services on job portals to increase visibility
- Monitor and analyse the performance of job postings
- Schedule initial interviews with shortlisted candidates
- Collect feedback from candidates to improve the recruitment process
- Repeat the process for different role types and locations
⛳️ Strategy 2: Utilise Employee Referrals
- Develop a referral programme with attractive incentives for current employees
- Communicate the referral programme guidelines and rewards clearly to all employees
- Create an easy-to-use referral submission process
- Regularly remind employees about the referral programme through internal communications
- Highlight successful referral stories to motivate employees
- Offer training sessions on how to identify potential candidates in their network
- Acknowledge every referral submission to keep employees engaged
- Monitor the performance and effectiveness of the referral programme
- Adjust incentives based on performance data and feedback
- Collect feedback from employees about the programme to make necessary improvements
⛳️ Strategy 3: Partner with Educational Institutions
- Identify universities and colleges with strong finance programs
- Establish partnerships with these educational institutions
- Participate in career fairs and on-campus recruitment events
- Develop internship programs to attract students early in their careers
- Offer guest lectures and workshops to build brand presence
- Create a graduate recruitment programme with structured career paths
- Leverage alumni networks to seek potential candidates
- Host informational sessions to introduce the microfinance industry
- Collect and analyse feedback from campus events to improve recruitment strategies
- Maintain relationships with career services offices for ongoing recruitment opportunities
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
