In every business cycle there is a period of acceleration and reflection.
Most businesses like to hire new talent as they expand, just as the workload gets heavier and it’s clear they need more staff.
However, in my experience, it’s the best time to get hired before gets to that point. Recruiting during slower periods gives you more opportunities to find the right person and fit them into the role and the organization. Another factor is the lack of talent and the length of time it takes to find someone suitable.
Finding talent during slower times has several benefits for you, the business, and the person you’re recruiting. As a leader, you are able to take the time and space to discover what you are looking for in a candidate and what makes your business attractive to the right person, which is much more difficult to do when you pump;
Knowing what your culture is and what kind of people you want goes a long way toward finding a fit for your next team member; Many newer businesses struggle with attracting qualified candidates because these two aspects often change in the early days. As your foundation grows stronger, you’re likely to get more qualified candidates who can see your experience and know you’re stable and growing.
Anticipating staffing needs also helps the business because it reduces the risk of over-capacity staff burning out, which generally happens if you’re looking for a new team member during busier periods.
Also, it pays to have the luxury of time to find the right person who fits the team, because if you get the wrong one, it will disrupt everyone’s flow and can be more damaging than not hiring at all. Building trust takes time, and you can’t expect to bring someone into your existing team and have them work seamlessly right away.
Talent optimization
Another advantage is for the new recruit to have time to settle in and absorb the culture before taking on their role. They can be comfortable in their role, know the business better and have the manager’s full attention and time with them.
Then, when the employment period begins, they are ready to go, rather than starting at the bottom of a steep learning curve. There’s a reason we start learning to drive on quiet streets and not highways. You will get better results from someone who has had time to build confidence in their role and trust in the team.
At Rate Money we ended up recruiting our Chief Operating Officer Catherine McFarlane from Brisbane to work in our Sydney office.
I realized that it was a priority for her to get her living arrangements established and settled so she wouldn’t be distracted by that aspect of the move while she was at work. It was also useful to give him time to get to know Sydney; if you have people moving for the role, go the extra mile and find out what they like so you can give them some pointers about their new city.
With all this in mind, I consider the beginning and end of the year to be one of the best times to stock up. During the Christmas/New Year period, people look back and reassess their careers and with that reflection, their goals become much clearer. If anyone has used the break to get new energy to face new challenges, I definitely want to hear from them.
You’ll also find that different industries have different “slow” periods that can be ideal times to recruit. Having said that, it is during these slow periods that good talent can also be redundant; enabling you to capitalize on this and make great rentals. Take the time to identify who you need so that your team and organizations are ready to go when business takes off.
Ryan Gair recruiting list
- Good cultural fit.
- Someone who is driven; unless they are a manager, someone with ambition who wants to grow. I usually ask sales candidates what they consider a lot of money and what kind of income they want to make to gauge their drive.
- Someone who aims high; strive to be good at what you do. it’s not fair to anyone if you’re mediocre.
- One who sees an opportunity; I hate it when people say it’s “not in their job description”. they need to look at how to solve challenges and meet needs. That’s when you get career advancement.
Follow our stories on LinkedIn Twitter:Facebook and Instagram.