Acquiring Top Talent
It’s no secret that your tech startup has many critical hires to make. Without the right talent in place, your work remains unfinished, and your company is not moving forward. But because the job market in tech is so hot, demand for top performers is high and rising, especially from young companies. And with market conditions the way they are, the time it takes for companies acquiring top talent continues to increase. Because of these conditions, startups must be prepared to move to secure the talent they need. Yet too often, startups fail to act quickly enough to hire effectively. Finding the right people for your needs is critical, but if you are lacking an efficient interview and hiring process, you may be hindering your own efforts and preventing your company’s growth. But fear not; there are many factors you can address to help shorten your hiring time.
Why Startups Take Too Long To Hire
Why might a tech startup employ a lengthy hiring process? Many companies begin hiring without a clear enough sense of their own needs, or conversely try to be too thorough when vetting potential hires. Another common reason results from expectations that are set too high, and the desire to hold out for better options. Because the hire is so critical, the vision of the perfect candidate creates an unrealistic comparison to real candidates. Hiring inefficiency also arises from issues of uncertainty and the second guessing of opinions and judgments on the part of the company. And for some startups, it simply comes from issues with budgetary constraints or the timing of the hire.
The Results of A Lengthy Hiring Process
All of the above are real issues that startups face, and should not be discounted as excuses in any way. Regardless, lengthy hiring tends to yield the same results, despite the reasoning. For starters, your company is most likely not your candidates’ only prospect. Failure to move quickly with candidates that meet your needs can result in a loss to competing companies. This holds especially true for candidates who are more active in their job search, but is not necessarily excluded from passive professionals. Elongated hiring time can also convey a perceived lack of interest, or may signal poor functionality or management within the organization. In either situation, the time, money and energy put towards hiring is wasted unnecessarily. Additional resources must be allocated to compensate, which means they must be taken away from other areas of your startup that require focus. And Ultimately, a failure to make your critical hires due to lengthy hiring means the work is left undone, and your startup’s progress is further hindered.
How to Help Decrease Your Hiring Time
There are several things that hiring startups can do to shorten their interview process with confidence. To start, realize that perfection does not exist. Searching for something unrealistic is a huge time suck, and will rarely, if ever, yield results. Second, establish what you actually need, and distinguish between your needs and wants for the hire. And focus on evaluating candidates based on what your needs are, rather than comparing to what may come along in the future. There is always the potential for a better fit to come along, but don’t let the potential for better in the future sway your judgement in evaluating potential hires today. And finally, trust your gut. Be assertive, and remember that you know what you need. Make judgments with confidence, and trust the opinions of other interviewers.
Startups: Don’t Take So Long!
Hiring is stressful, especially for a small company. It takes a great deal of energy, time and money. It takes those resources away from other areas that need focus. And its impact will be felt throughout the organization in more ways than one. It is also work that can make the greatest impact on your organization’s success. This is all the more reason to do it efficiently and effectively from the start. None of the above implies that you must make sacrifices on your core needs, nor should you discount the importance of cultural fit or experience. What it does imply is that when making critical hires, startups must be realistic, plan ahead, and act when needed. And for a startup, every hire is critical.
Kathy Gwozdz has been in the recruiting industry for over 15 years. She has a diverse background in Contingency, Corporate and Contract recruiting, working directly with candidates and clients at a high level. Her determination and zeal in finding the ideal person for the right opportunity makes her continuously successful in placing top talent.