Change masters are the leaders who motivate and drive the successful direction of their companies. They know that success starts and is sustained by excellence in staffing. Enlightened leaders create workplaces where people are the focus of the corporate culture and the customer is the focus of the people.
Ahh, January 1st—the milestone that gives people a renewed sense of starting fresh. They make personal resolutions and set goals like weight loss, quitting smoking, or beginning a new exercise program. Businesses on the other hand, start looking forward to the first quarter of the New Year to redeem themselves financially by boosting their revenue.
No matter what business goals you set, whether they include increasing sales, getting new customers, building a pipeline, or hiring top-performing talent to drive your company’s revenue by January 1st—you need to start right now!
If your plan is to improve your revenue streams by hiring top talent for the first quarter of the New Year, you don’t start looking for top talent on the first day of the New Year, or even just four weeks before January 1st. To meet your financial goals you “need” revenue-generating, feet on the street, “ON”, not by the first day of the first quarter of the New Year.
To have your top talent working on January 1st, you need to start working a full quarter ahead of time. When you wait until January 1st to take action, you won’t start to see the fruits of your top talent’s labor until around April. This means now because you didn’t work 60-90 days ahead of the target start date, you’re 60-90 days behind. Now, January becomes March and your return for the first quarter will be 0-1%.
Sitting back and waiting to hire to reduce costs and not being properly staffed now results in loss of revenue for later.
Additionally, during holidays you automatically lose 10 business days in the hiring process. Either you or someone else from your organization that is involved in the hiring process is usually absent during this time period. A common scenario that takes place during a hiring process that falls into the end-of-year holiday period is that hiring managers involved in the hiring process haven’t taken time off throughout the year and need to take it off before the year ends. This makes them unavailable during this holiday period which now slows the process down even more.
Have you ever sat down and really taken a look at the amount of time needed for the entire hiring process to transpire? Look into the future and select the start date, then work back regressively to each step in the process to see how much time your hiring process takes and when you actually need to start the process.
The following is an example of most of the major steps needed in the process to give you an idea of why “NOW” is the time to start looking for top talent.
Example of Backtracking the Hiring Process:
January 2nd Start Date
December 15th Candidate Gives Notice to Current Employer
December 12th Candidate Accepts Offer
December 5th Negotiations between Candidate and Employer
December 4th Offer Out to Candidate
November 30th Make Decision on Which Candidate to Hire
November 29th Final Round of Interviews
November 10th First Round of Interviews
November 3rd Submission of List of Candidates to Interview
October 15th – Start Search; Work on List of Possible Candidates to Interview (ideally 3-5)
After looking at this example if you don’t think you have enough time to complete your entire hiring process before the New Year, what part of the process can you remove or shorten? This is the only way to make sure you have the resources up and running and ready to produce for your company on the first day of the New Year.
It’s understandable that during economic uncertainty business leaders decide to put off their hiring decisions until the New Year. They don’t see the harm since it’s not too far in the future, so they may as well slide through the holiday period without a new hire, especially if the position has been open for an extended period of time. They figure they’ve gotten along up to now without filling the position so they may as well put it off a little longer.
Unfortunately, this strategy results in failure. Procrastination in hiring also results in procrastination of gaining the revenue your company would produce if you had top talent in place. Also, when business does bounce back, your company won’t be equipped with the staff needed and ultimately misses out on opportunities and keeps you further from reaching your revenue goals.
©13 Morisey Dart
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