The Intense Competition for Talent – Are You Adaptive in Your Pursuit?

There is a theory from Darwin that has withstood the test of time; it is not the strongest or smartest that survive, but the most adaptive to change. This has been applied to everything from basic survival to running a successful business. It is time to recognize that this principle also applies to the hiring process and timeline.

The agreed standard has always been multiple interviews, select your lead candidate, continue your fact finding, make an offer and make the hire. However, the agreed timetable for these events to take place tend to vary from organization to organization and hiring authorities alike. In an employer driven market like the one seen during the economic downturn, you have the flexibility to take your time. A candidate may need you more than you need them so they will wait on you hand and foot. In a thriving industry or time of economic growth, this may not be the case.

Right now the pendulum is swinging. Talent readily available is now more scarce. A well-qualified candidate who before may have waited a few weeks until a decision is made may now be less likely to wait around. The current circumstances causing them to seek a change may get addressed internally before you’ve made a decision and you miss the boat. They may be interviewing with multiple companies and another that they also like may be moving quicker than you. The truth of the matter is, on an industrywide scale, there are more empty seats than qualified individuals to fill them. Looking at the hiring process and timeline that worked before, the question is, will it be effective now? Are you prepared to adapt to secure your next hire?

Here are some suggestions on how to be aggressive to land your next hire:

• Be constantly vocal promoting your brand and culture in the marketplace
• Act faster on decision making
• Maintain relationships with passive candidates to act quicker for future needs
• Offer compensation packages outside the norm (a few examples can be found here)

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