Just as August is the top buying month in Real Estate, January is known as the top hiring month. Each New Year prompts new goals and leaders identify gaps in their talent pool that need to be filled to reach those goals.
Unemployment has dropped nationwide. In some locations, like Denver, there’s a talent market where there are not enough skilled workers to fill certain positions. This can make hiring the right people to achieve your goals a daunting experience. You may be asking yourself: “When should I start the process?”, “How do I start?”, “How do I stand out against so many other organizations who are targeting the same candidates?”
Let’s break it down for you.
- When should you start? In the recruiting world, it is common to measure placements against a time-to-fill metric. This tracks how long it takes from the day the position is open/candidate attraction begins to the day of an accepted offer. Many factors impact the time-to-fill metric. The recognized average time-to-fill at the beginning of 2019 was 37 days. Despite the fact that many companies have condensed their hiring process, data now shows time-to-fill at 42 days. Why is there an increase? Talent is tight and it’s harder to attract the ideal talent and keep them in your hiring process through to accepted offer.
Good advice is to start your search early and at least forty-two (42) days before you want your ideal candidate to start. Not only do you need to allow time for them to give notice and finish out their current position, you also need to give time for things that might influence your time-to-fill for the position.
- How should you start? You’ve heard this before; your hiring process should start with three things: (1) a compelling candidate attraction campaign, (2) a realistic candidate profile, and (3) a motivating comp package. Having these three components in place positions you to launch an effective hiring campaign.
- How do you stand out? An effective way to gain advantage against competing organizations that are targeting the same talent is to work with a talent acquisition expert. Hiring today is truly complex. A trusted talent partner who knows you and your goals, and knows how to hire well, is worth the initial investment. They can also boost your hiring brand by sharing positive examples of working with you. Our clients consistently report that they could not have accomplished making the quality hires without us. In the long run they’re saving money because with the right team in place, they’re much more effective.
To accelerate success, define a strong hiring process, work with urgency, and start the process early enough to get the right person hired. The ultimate results will be that you’re looking back having met or exceeded your goals at year end!
“You made a task that we were dreading a wonderful experience with an outcome that brought us a shining diamond!”
New Client for JESSI Search in 2019
“100% couldn’t be happier. Exactly the type of company and people I want to work for. A dream come true.”
Candidate placed for the above company