If you run a high-growth business and you expect to need an influx of employees—for initiatives like launching a new product or entering a new market—how much lead time will you need to get those new team members on board?
The answer may surprise you.
With all the movement of employees today, you might expect there are lots of candidates looking, so the hiring runway can’t be that bad. But if you hope to achieve significant growth, you can’t simply run recruitment ads and hope job seekers find you on a reasonable timeline. Those days are long gone.
To ensure you find the right talent at the right time to fuel your growth, you need to develop a strategic hiring plan before you’re ready to start the hiring process—and do some housekeeping in the meantime to position yourself for the best results. No matter where you are in the journey to build out your team, it’s never too soon to evaluate your hiring plan and set up your organization for success.
In the current job market, you can’t assume the right talent will find you precisely when you need them. Yes, it’s true that people are still switching jobs—sometimes for more money, other times for a better work/life balance or a more supportive work environment. But it’s not the same job market as it was in 2020, when the term “The Great Resignation” first surfaced.
In the early days of the pandemic, some employees were willing to leave a job without having a new place to land. Others made relatively impulsive decisions to switch companies simply because the new job paid more. For many people, the emotions and uncertainty fueled by the pandemic encouraged job moves that might not have happened only a year earlier.
Now, employees appear to be taking a more measured, cautious approach to changing jobs, partly because some have found the grass wasn’t necessarily greener on the other side. With potentially fewer people actively looking to make a move—or willing to consider a recruiter’s call—companies are finding the process even slower than before. That means you’ll need to start preparing your hiring plans sooner and get your recruiting house in order faster.
One reason you need more lead time to develop a hiring plan is because that plan needs to go far beyond what you might have expected in the past.
Of course, a good hiring plan must always include fundamental components like these:
But an effective hiring plan today must also go beyond those basic components. Before you can begin to recruit the top talent it takes to run a profitable, thriving, high-growth company, you may need to do housekeeping on critical aspects like the following.
Given the increasing complexity of hiring in the current market, it’s never too early to start developing a strategic hiring plan. That’s especially true if you have aggressive growth objectives—whether you’re in a transformative industry like clean energy, you’re developing breakthrough technologies, or you’re building out your geographic footprint or product portfolio.
A well-conceived hiring plan will help you obtain the talent you need to turn your growth goals into reality, enabling you to attract new team members who can support your strategic objectives and initiatives, proactively build out your bench, and plan for the smooth succession and transition of senior leaders.
When high-growth companies need hiring plans that help them attract and retain top talent to achieve their goals, they turn to M3 Partnership & Placement! Our team is highly experienced in developing strategic hiring plans that position high-growth companies for the best outcomes.
Contact M3 to schedule an introductory call!