To Capture Top Talent, You Have to Move Quickly

Capture Top Talent

Capture Top Talent

In the tech market, talent is a hot commodity; technology companies are constantly looking to fill positions, and hiring managers must move fast before their competitors swoop in. Yet, some managers don’t seem to make recruiting top talent their top priority, or at least don’t act like it is. Many managers are slow to move through the recruiting process, and miss out on capturing top candidates for open positions because those candidates have taken positions elsewhere. As a hiring manager, you need to do more than adopt the attitude that swift recruiting of top talent is important. You need to act on it.

Why Managers Procrastinate

Most hiring managers aren’t slowing down their hiring process because they think it’s unimportant. Rather, they allow other things to get in their way, sabotaging their chances to capture top talent.

  • Perfectionism. The ultra-competitive nature of technological startups makes it important to hire the right people when you come across them. However, some managers are too eager to find perfection in their new hire. These managers insist on seeing more candidates even though they are nearly certain about a candidate they’ve already interviewed.
  • Fear of mistakes. Similarly, some hiring managers fear that hiring the wrong person will lead to disaster. These managers won’t hire anyone if they aren’t 100 percent sure the candidate will work out; a scenario that no expertise in recruiting and hiring will ever completely mitigate.
  • Too busy. Taking charge of a startup means putting out fires all the time. No matter how high a priority you place on hiring new talent, you might not have time to do it because of all the other concerns demanding your attention.

Procrastination Kills Opportunities

Being slow to hire is a poor marketing decision that can put your startup far behind the competition. If you take weeks or months to get back to interested talent, they’ll question whether you have your act together. Your top candidates may lose interest in working for your company or come across better opportunities if you do not move quickly on hiring them. And since top talent often network with other high performers, their extended network may not bother to apply either.

The Bottom Line

Top talent knows it’s valuable. If you don’t move quickly to hire the most talented candidates you run across, your competitors will. If you want talented people to help your startup rise to the top of the market, you need to hire top talent as soon as you encounter it.

How to Speed Up the Hiring Process

  • Improve your process. Analyze your process to determine where you hiring pipeline is dropping off. Take note of what you focus on, what activities are involved in hiring and how long it takes you to hire candidates. Ask yourself which activities and thought processes are vital to hiring new candidates. Eliminate the ones that aren’t.
  • Reduce hiring criteria. Often, managers waste time looking for candidates that match a detailed ideal candidate profile. Examine your candidate checklist and decide which items are essential, and which are nice to have. This helps broaden your search so you can more easily find your ideal candidates.
  • Get assistance. Don’t try to do all the hiring yourself, especially if you have a full plate already. Find help screening initial resumes and share the load with your existing team for the first round of interviews. That way, you only have to be involved with the final three to five candidates and can more easily make your decision. And of course, a talented recruiter always helps.

Millennium Search is an executive search firm working with emerging startups and technology companies to capture top talent across technical, business, sales and marketing functions, from the C Level to individual contributor roles. In working with top technology companies in today’s marketplace, we have seen time and again the importance of making smart hiring decisions quickly, and the impact a lack of urgency can have on building a talented team.

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