Hiring in competitive market conditions

Are you prepared to battle for your next candidate? As a hiring manager, you should ask yourself this question before beginning the process of trying to hire your next team member. unless you already know the individual you want to hire, you can expect just that — a battle.

So what do I mean by battle? I mean you can expect your candidates to have competing offers, continual calls from recruiters and many other options (including counter offers). Depending on your geographical location and the type of position you are trying to fill, this competition could be very intense!

So, how can I be successful? If this is your question, the answer depends on how quickly you can move once you have identified the right candidate. Too many companies lose out on candidates simply because their hiring process is too slow. We had a client suffer through this just this month resulting in a scenario in which they were now considering making a higher offer than they intended to in the beginning to convince the candidate they were after to re-consider them as an employer and turn down the other offer that the candidate accepted. This is usually a lose-lose for all parties. The company pays more than they needed to and the candidate is faced with a choice of burning one or even two companies in this process.

In order to prevent scenarios like this, you must be able to move FAST – interview fast, make decisions fast and make a hiring decision FAST. I understand that you have to make the right decision and it is VERY IMPORTANT to interview completely in order to make that right decision; HOWEVER, too many companies lose sight on the importance of making this decision very quickly and face the same dilemma that our client above faces.

Speed is obviously not always going to win out. Another factor that too many companies get stuck on is the qualifications they are trying to hire for. Are you willing to narrow this list down to a few must have qualifications or do you expect your next candidate to meet ALL of the criteria you are hiring for? If you are holding out for the perfect candidate, chances are you will be in for a for slow process.

Be prepared – when conditions are competitive – and they are very competitive today. Be ready to address these issues and be successful with your next recruiting effort….