Some executive headhunters will say whatever they think you want to hear when your business is poised for growth. They can push for a hire now, on the merits of saving time later. They’ll draw up a shortlist of countless candidates with little thought for quality and only for ticking boxes.
Or, instead, they will be patient. They can look for the perfect hiring window, when it really matters to your business.
Is there a right time to hire? Every case is different, but there are ways to determine you’re ready…
Perhaps the company is due an overhaul – something in its messaging or values that you feel has been lacking thus far. Whether it’s the result of an acquisition, merger or catching up to a changing industry, the new hire can play a pivotal role. Their voice and actions could be critical in a rebrand.
Yet it does help if you already know, to a degree, what that change looks like. When they enter the company, the candidate should know what they’re in for, and why you or a senior recruiter thinks they’re suitable. A thorough and effective hiring process can last for months. In that time, you’ll have identified what the company needs, as well as the experience it’s looking for in the candidate.
The writing’s on the wall: someone who fills a crucial position is moving on. But their role remains key – it must be handed over, or else the business takes a hit. Once you’re aware of the original team member’s intentions, it’s time to reach out.
A private equity-backed business, for example, can’t afford to let a shareholder or corporate intermediary go without finding someone as good or better. By going to a senior recruiter, you bypass the long, fruitless search for a candidate who measures up. Try to align their start date as much as possible to the former person’s exit, can you get an overlap for a handover? Introduce the fresh hire to those they’ll be working with closely, one by one, so the process is seamless. Furnish them with data during their notice (if confidentiality allows), which engages them before the official start date.
Occasionally you can aim to do too much too soon. Rapid expansion has the tendency to make some brands overzealous, hiring several important people before they know how to use them effectively. Budget is a key factor. Ideally you will have mapped cash flow to a tee, accounting for the change in processes, supply, management requirements and outgoings. The hire must be an investment you can afford to count on.
If you want advice on how someone may impact your growth, then ask for it. Slow down. Delay a timescale until you’re fully aware about KPIs and their financial implications. An executive search recruiter will have their own views on this – it helps if they’ve worked in the same sector. That’s part of SPE Resourcing’s value to hospitality and retail brands: we’ve been in your position ourselves.
To acquire the best skills for expansion, a restructure or a new arm to the business, speak to us. We’re the executive headhunters you’ve been waiting for. The time may be right to hire – and if it’s not, we can suggest when it will be.
