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Get connected to top talent! 6 Key factors that determine successful hires
Posted July 6, 2022
With the growth and consumer demand for Automotive Technology (Electric Vehicle, Automated Driving, Connected Car) increasing and the competition for “top talent” becoming more and more fierce, companies of all shapes and sizes are needing to focus their attention on hiring strategies. Below is a summary of the 6 key factors that determine successful hires:
1. Invest in your Recruitment strategy
Investment comes in many forms; Money, Time, Effort but investment needs to be managed in such a way that companies are able to really determine what it takes to be successful!
There are some really important questions companies need to ask themselves upfront:
- When do we need these experts in the business? How long does the process take?
- How much are we willing to invest financially in order to attract the top talent?
- Are we going to manage hires directly or via a Headhunter?
- What does it mean to be successful in our “recruitment strategy”? KPIs, Ratios, etc.
2. Focused but flexible
Once a company has it’s objective, it’s important to deliver on the daily steps in order to be successful, meaning they need to focus on the long and short term goals whilst maintaining a certain degree of flexibility. Too commonly businesses adopt an attitude of “this is how we’ve always done it!” – The world is developing rapidly, especially the Technology world and this means that all processes surrounding need to develop with it.
A company is searching for a candidate with minimum of 5 years of experience within a certain budget, it’s clear they can’t find it in the market (with the data to back it up) and there is a candidate with a positive attitude and aptitude to develop who fits 80% of the requirements; then adjust the hiring requirements to get them!
Successful companies are built around people and they need to be flexible to get the right attitude and people in the door!
3. Attractive company image and mission
- What are the key selling points about the company?
- What is the company’s purpose of existence?
- How does this hire contribute to the success of the company?
These are all questions companies should be asking themselves before engaging in a search because “potential hires” are 100% asking these questions about the company (and their competitors!).
It is very clear that high performers all have similar self value needs meaning that it is now more important that ever to engage with the candidate about what they are responsible for within the company. People within the Technology industries (Automotive, Connectivity, etc.) want to be a part of something industry renowned and that doesn’t mean that the biggest companies are the always the best but it does mean that companies of all sizes and stature need to know what the key selling points are about their company, their purpose and the impact of the new hire they are planning to make!
4. Engages stakeholders
Getting internal stakeholders on board is imperative if companies are going to be successful – everyone has slightly different ideas and perspectives on what is required but it is important to have a clear message that a company is sending out to the market. The communication from all parties (internal/external) needs to be consistent – interview preparation, feedback (positive or negative) and general communication throughout the recruitment process creates an enriching engagement with the company and even if the expert doesn’t join the company now, they may in the future as they are positively impressed by the company’s engagement and communication – it is very important that all parties engaged in hiring, both internal and external, are clear on this point!
5. Speed of execution
Work with an industry expert – be it, internal Talent Acquisition or external niche Headhunter. Companies need to act quickly and carry momentum in their recruitment process, realistically they need to plan for their hire to be made within 6 – 8 weeks otherwise they face loosing the candidate to their competition. Working with an amateur will not achieve the results needed.
6. Retention plans and career development
So a company has worked hard and effectively to get the top talent into their team but now is when the difficult part starts! Retention. No one successful joined a business to stay in the position that they joined in.
This is so important to remember as it is the difference as to whether the hiring company keep their talent or not! Developing career development plans, hiring cycles, mobility plans, etc. is exactly what is important to industry experts. People want to be positively inspired to have something to aim for and to grow in to and it’s critical that companies have a clear plan to keep their top talent!
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