Opportune timing enables options and a competitive advantage.
As a company, what is your message when you go to market for talent?
* Keeping up with explosive growth
* Seeking international experience for expansion
* Filling talent pipeline with high-potentials
* Infusing best practices for process improvement
* Gearing up for future growth
* Targeting new markets/customers
* Grabbing market share from weaker competitors
* Need turnaround expert
* Running out of cash
* Nearly out of business
The better the business scenario, the larger number of top candidates you will be able to attract.
It’s a sliding scale. In a down market when you are competitively challenged, the pool of talent diminishes, as you will be targeting only strong contenders with turnaround track records. In this situation, time is not your friend. Things will not improve by happenstance. Waiting out the storm may not be the best strategy.
It’s all relational.
When you need the best people the most, you may not be able to attract them.
There is pent-up demand for strong players. Starting the process sooner rather than later can have a high payback.
Just as candidates quickly learn, particularly those in transition: It’s best to network before you need to.
Think about this: Lead time is a luxury that almost everyone can afford.
Starting early costs the same as starting late.
June 30, 2009