In recruitment, time kills deals

When hiring top talent, timing is crucial. Even an excellent offer can be rejected after a 6-month recruitment process. Rejections often revolve around the themes of time and money - in six months, a lot can happen, such as internal promotions, pay raises, and bonuses.

Timing Matters: If the recruitment process drags on, it can jeopardise deals and increase costs. As the process nears its conclusion, it may coincide with the year-end bonus season, and no one wants to miss out on a bonus. I once had a candidate who became pregnant during the lengthy process and didn't want any changes to her work situation.

Time Equals Money: The longer the recruitment process extends, the more tempting a potential bonus or pay raise can become for the candidate to stay with their current employer. This naturally inflates the cost of any potential offers.

The examples above emphasise the importance of a swift and efficient recruitment process. Time is of the essence when securing top talent, especially for high-demand candidates. Delaying the process can make candidates vulnerable to external influences.

Another significant risk of a prolonged recruitment process is the possibility of competing offers from other companies. Candidates, as the process drags on, become more open to enticing counteroffers from rival organisations. This can lead to a bidding war, escalating not only their compensation but also the risk of losing them altogether.

To secure the best talent, you must act decisively and swiftly. In the race for exceptional candidates, timing can make all the difference. For hiring advice, please reach out to me at elena.loseva@hyperionsearch.com.