Do your due diligence on new employers
Do your due diligence on new employers
In our experience way too, many Employees do not do anywhere near enough due diligence on potential new employers.
One thing for us that is vitally important is to know who we are working with. When we work with a new client, we want to know more than just what they do as a business. We will credit check. Our due diligence is done. We look to find out if we can work with this client effectively. If it is going to be nightmare, they will not pay us, or our candidates will not stay; we want to know.
So why don’t new employees do their own due diligence?
Admittedly some employees will conduct their own due diligence, but most will not. In our industry for example, the number of agencies that talk a good game but are not all that is crazy. I saw a company that was not even on the radar a few years ago have 10+ new recruiters start with them in a day. Yet their staff turnover is off the scale, their commission structure no better than average and their L&D is, from people I know, “not all that”. Yet, 10 recruiters, some who are experienced have chosen to work there.
Even with minimal research there are better options out there.
Why have these employees gone there then?
Much of the way hiring, and even consumer shopping behaviors, have gone is that it is less about people hunting down what they want. Now, it is more about what comes to you. In recruitment for example many candidates are now classed as passive candidates. For those of you unfamiliar with this term it means candidates who are not actually looking for a job but are approached out of the blue. This is opposed to an active candidate who is actively looking for a new job.
What is happening is that these recruiters are being approached on platforms like LinkedIn for new opportunities. And it is the same with many industries now. As crazy as it sounds people get new jobs, not because they wanted to, but because they were approached about a new great opportunity. We ourselves approach many candidates this way so it is nothing unique.
The Great Opportunity
We have established that many people get approached out of the blue about new career opportunities that they follow up despite not actively looking to change their job. But why? What is such a great opportunity then?
There is a management theory know as a Herzberg, which in my opinion is a good example to use to explain this.
Herzberg in a Nutshell
Herzberg itself is used to look at why people seek to change their circumstances, in this case their job. In simple terms it is broken into Motivating Factors and Hygiene Factors. Motivating Factors are where people seek a change because they can only get what they want or need by changing their circumstances. Hygiene Factors are problems that can be resolved without changing Circumstances but perhaps require some effort on your part.
Problem Solved rather than Opportunity sought
When you are approached out of the blue you are most likely to respond if you are unhappy in your job. However, you may be unhappy because of Motivating or Hygiene Factors. And here lies the problem.
If you decide to go with a new opportunity solely because it sounds better than where you are currently then it is a matter of the grass sounding greener on the other side. This in essence is a Hygiene Factor. So, the game recruiters will play approaching you who is a numbers game. “How many people can we message until we get a bite”. That is great for them hiring who they want but you really are just a number in that case.
The difference between thinking you have done due diligence and really doing it
Nobody wants to be made to feel a fool. But some of the people I see go to new companies because they have been approached even when I know that company is not great is getting crazier by the day. The average employment tenure is diminishing day by day. Occupational Health is becoming more about mental health more than ever. And coincidentally more people are going to jobs not because they picked them, but because the employer approached them out of the blue. Coincidence?
In an age where we think we are more informed and more educated than ever; our decision making is so blasé with such important things as a career move. People are buying cars, most people’s 2nd largest investment besides a house, online. They cannot even be bothered to take a test drive. So why wouldn’t people become so sheep like that they go to a job because some random talent acquisition specialist tells them it is the bomb?
What you should do instead
The smart move is to do your due diligence. Check all the main employees out on LinkedIn. Directors and your Line Manager. Who are they? What is their background? Are they credible? What is it you want from your career? Can this company provide that? What are their financials? What do they do? And what do the bad reviews on Glassdoor say?
How much do they want you and value you? Is there interviewing when you need it or when they need it? What are their plans? Where do you fit in? Can they give you what you want now, in a year and even in 10 years’ time?
These are the questions you want to ask!
What is the risk of not doing your due diligence?
Have you ever seen a CV with 5 jobs in the last 5 years? Basically that. If that, is you then have an honest think about why that has happened? And I know that some say it is nothing to worry about having 5 jobs in 5 years. Trust me it is. The best companies do not want to hire job hoppers. I know because it is my job to know. Either take my word for it or do not but trust me that is how it is.