Time is money? – it’s far more than that, it has the power to kill all deals eventually. Time is lost opportunities, lost profits because someone has missed the boat today, it’s lost market dominance because you gave your competitors the time to overtake you.
With so much to lose, why do companies still take their foot off the gas when it comes to recruiting key executives?
Hiring is essential for growth but it’s not just corporate companies tangled up in red tape – it’s small start ups who can also be slow off the mark when headhunting and getting talent over the line.
You need 3 new hires on your sales team – all with £1M targets. You go through HR and your budget for the new hires get approved.
You turn to an executive search company for assistance and they get over a great shortlist within a few weeks. You decide to ponder on the list to make sure you interview the right people. You take a few days – it can’t hurt can it?
It can and it will.
All those days add up and suddenly your behind on your hires and some of the people on the shortlist are no longer interested in the open positions or they have been snapped up by your competitors.
For every day that goes by that’s 3 open headcounts that are open – costing you money!
So your next quarter profits are lower and then you don’t need three people – now you only need one or two.
Lost opportunities, because somebody delayed.
The company is growing – in every department. It’s hiring 20 new people, 5 for each of the 4 departments.
One senior manager moves quickly – hiring the 5 people needed and are exceeding expectations in terms of profit. Another senior manager hasn’t hired one person and is seeing profits plateau.
The senior manager who is doing great needs a further two extra people for his department. So two other teams must each lose one potential new hire. Or one team has to lose two hires.
And it all gets very territorial. A time-consuming turf war ensues. As above, these delays will cost you candidates, opportunities and profits.
The hiring manager leaves
You’ll be surprised at how often this happens.
This is a nightmare logjam because you can’t hire key people until the position above them is filled.
Although this is out of your control, your immediate focus should be to hire someone to fill this position! The longer you wait the less success you will have.
Mergers, acquisitions and delays
Tech start up are stunningly attracting acquisition targets. Big global player acquires sexy start-ups with the promise of lots of fuel for growth to back their world domination plans – but in reality, the hiring grinds to a halt in a series of delays.
Save time, secure the right people and seize the opportunities
Stepping on the gas is critical to get the right people… before your competitors snap them up
And for that you need an executive search firm that has spent plenty of time in the frontline of global executive search – at least 20 years!