The run-up to the holidays has begun and now begins the full-court press to the end of the year. Budget requests are either in or due, annual numbers are getting tallied and performance reviews being conducting.
Looking at the bigger picture it might seem counter-intuitive to want to get that new hire started before the end of December, but here are 6 key reasons you should be doing exactly that.
6 Reasons to Close New Hires before the end of the year
1) It's A Seller's Market
The talent pool in many IT sectors is, at best tight. You don't have to look any further than the Cybersecurity job market to know that top candidates are in demand. There's truly little need to sit around and wait for a company that's slow to pull the trigger for many IT professionals. And while you may have tantalizing benefits and enviable company culture on offer, chances so do your competitors.
2) You Risk Losing The Slot
Whether it's due to expansion in your sector, the growth of your customer base, or the loss of a team member, you have the opening for a reason. You didn't initiate bringing a new employee in on a whim, you've got a need you need to be met.
And while you may be certain that the budget for the new year includes funding this opening, just remember: the only thing you can count on is change. There are a number of unknowable variables that might affect your budget for the new year - beat the uncertainty by getting the talent you need in place now.
3) Top Talent Waits For No One
This might be considered a corollary of #1 above, but the best candidates are simply not on the market for that long. Not only do they not need to wait for an offer, but they also won't.
While it is never advisable to make hiring decisions under duress, it's equally as ill-advised to surrender to a long and drawn-out hiring process.
You've got to be willing to move decisively to get the talent you want.
4) You Risk Surrendering To The Void
Once we hit the end of the year the harder it will be to assemble everyone you need to sign off on hiring decisions. Vacation schedules, end-of-year travel, and meetings can make it near impossible to get decision-makers assembled and focused.
It's important that you get what you need to shore up your department before everyone scatters and decisions have to be tabled.
As for candidates, conventional wisdom counsels one pull in the oars and not think about looking for a new position until the other side of January. The time between Thanksgiving and New Year then becomes this kind of looming void which top candidates and valuable talent are looking to avoid like some kind of gaping sinkhole that's temporarily swallowed up the job market.
What this means for you and your open desk is if you wait until after the holidays to start final interviews or moving toward an offer, it very well might be mid-to-late January before you get any momentum going.
Can you really afford to wait that long?
5) Shore Up Your DNA
Keep in mind the effect an unfilled opening has on the rest of your team. The more your team members are asked to pick up the slack, the more focus gets scattered and productivity goes down. The long term effects on your bottom line can be very damaging. Remember, one of the very best retention tools you have at your disposal is keeping employees engaged and stimulated. Over-taxed is the polar opposite of what you want.
On the plus side, new hires shore up your company DNA. They inject new energy, drive and focus. The contributions they add not only help drive success and profit as a direct result of the work they are doing but also in terms of keeping your business a thriving place to work.
6) Embrace The Void
The end of the year is the perfect time to get a new hire on-board. With fewer distractions, fewer calls to be made, half the number of meetings on the docket, your new employee has the time and ability to get through the necessary training and/or certification processes they need to do their job well.
There's likely no other time of the year, not even August, that will afford you the same kind of a slower pace to get your new hires up to speed.
It's time to begin thinking of the end of the year as the perfect time to get your new hires on board so that you can hit the ground running in the new year.