How I recruit the best employees in the world…

Summary

• My name is Alex Hormozi, and at Acquisition.com, we make around $85 million a year in revenue.
• Scaling a company internally is vital, and I've learned some impactful strategies to do so effectively.
• There are five core functions in any business that should never be outsourced: lead generation, lead nurture, sales, fulfillment, and retention and ascension.
• Every company should understand and divide tasks within these core functions; it's a beneficial framework for growth.
• Just as you generate leads for customers, you should generate applications for potential employees using similar tactics.
• There are six ways to attract both customers and employees: paid ads, earned media, owned media, manual outbound, affiliates, and word of mouth.
• Often, you don't need a new strategy, you need a "who" – someone already skilled who can help your business grow faster.
• Treat your employee applications with the same urgency as customer leads, so you can engage top talent quickly.
• The interview process is really another form of sales where you're selling the candidate on why they should work for you, not competitors.
• Competition for talent is intense with the rise of remote work, so deliberate and aggressive recruitment strategies are essential.
• The internal pipeline includes training your employees, setting communication cadences, job descriptions, KPIs, compensation structures, and growth opportunities.
• Retain employees by motivating them and identifying who can ascend to greater responsibilities, creating a fast track for growth.
• By establishing systems for talent acquisition, retention, and ascension, you create a desirable brand that people aspire to join.
• Clear KPIs and advancement opportunities are necessary; without them, employees can't envision their future with your company and may leave.
• Talent acquisition and management are key to scaling your business. Knowing the metrics of your talent system ensures you get the talent you need.
• These insights and strategies are aimed to help prevent you from being "broke," by sharing knowledge that I hope contributes to your success.

Video

How To Take Action

I would suggest implementing a defined talent acquisition system based on the internal framework mentioned. Start by categorizing activities into core functions: application generation, application nurture, interviewing, training, and employee ascension. Here's how to do it:

1. Application Generation: Just like lead generation for customers, get creative for employees. Use paid ads, social media, your network, and even cold outreach to gather potential candidate applications. This gets the ball rolling.

2. Application Nurture: Treat these applications like customer leads. Respond quickly. Aim to make contact with potential hires within a couple of days. Don't let that top talent slip away because you were slow to engage.

3. Interviewing: This is your sales pitch for why a candidate should work with you, not elsewhere. Develop a script that highlights the benefits of joining your company, and be ready to sell your vision and culture passionately.

4. Training: Once someone's hired, you need to deliver on what you promised during the interview. That means providing proper training and clear communication about job roles, KPIs, and how they can succeed in your business.

5. Employee Ascension: Identify star players early and offer them a clear path for growth within the company. Show them how they can advance, what the milestones are, and what rewards they'll get for meeting them. This keeps them motivated and loyal.

Remember, the goal is not just to acquire talent, but to keep them growing and contributing to your company's success. Monitor the metrics of this talent system so you can make improvements and get the talent you need to scale your business.

By following these steps, you'll hopefully avoid being "broke" and instead, build a thriving company with a team that's as invested in growth as you are.

Quotes

"All of us are one amazing hire away from all the growth you could ever want"

– Alex Hormozi

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"A lot of times you don't need a what; you need a who"

– Alex Hormozi

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"If you can't see a future for when they're going to work for you, they're a ticking time bomb for when they're going to leave you for someone else"

– Alex Hormozi

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"Talent is the way that you scale the business"

– Alex Hormozi

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"If you find out that somebody worked at Facebook or they worked at Google, at in any kind of relatively high up capacity, you're going to probably assume that that person's very smart"

– Alex Hormozi