Kids will be out of school soon, if they aren’t already, and blessedly traffic on the drive to work will ebb for the coming three or four months. Soon, many will head out for summer vacations as the temperatures continue to climb. Focus at work is lessening as these behind-the-scenes macro influencers are at work.
It’s also a perfect time of the year to launch a talent search. That’s the truth and here’s why:
- The groundwork for Q3 and Q4 success begins now;
- The labor market has increased availability; and
- Candidates prefer a summer relocation over other times of year.
Louis Pasteur said, “Chance favors the prepared mind.” This suggests that chances present themselves more frequently with preparation. Today’s preparation is the difference between being successful and unsuccessful in Q3 and Q4. A key ingredient to a company’s success is how they look at and proactively manage staffing. Are the right players on board? For those already on board, are they in the right seats?
Chance favors the prepared mind.
If your company is budgeted for a strong third or fourth quarter, that work starts now. An executive search launched in August/September will take 75 calendar days to fill. After on-boarding and position normalizing, the newly hired will not be additive to the company until December at best. Launch your search today and your newly hired executive will be productive in the latter part of August – and you get an entire additional quarter benefitting from their expertise.
Now is a great time to begin a search because others will not. For every company that hesitates, take the opportunity to act. For every search not launched in May/June is another that will be launched in August/September. Simply put: there are fewer searches now so there is less competition for the pool of candidates. Your search will be more compelling and the potential for a bidding war over the best candidates is reduced.
Another reason to launch now versus later in the year has to do with the candidates. Many candidates are reticent to relocate outside of the summertime, when it’s more complicated to move families. After August, relocations become much more detailed and often come with a higher price tag to offset the effect the move will have on the family. Launch that search today and you won’t be limited to talent only in the local labor market. You can look across the nation for the talent your company needs.
It’s going to get hot. That’s a definite and absolute. As leaders, we spend a disproportionate amount of time keeping everyone focused this time of year. The easy path is to acquiesce. The correct path is to double down and keep pushing the organization forward.
My recommendation? Stay focused, stay proactive, and launch the search now. Set yourself and your team up for success in Q3 and Q4. Increase the quantity and quality of your search by launching now.