“Recently, I was asked if I was going to fire an employee who made a mistake that cost the company $600,000. No, I replied, I just spent $600,000 training him. Why would I want somebody to hire his experience?”
-Thomas John Watson Sr., IBM
People are the key to the success of any company. Hiring the right person for the right job is what it takes to make your business grow and expand. Keeping a tab on the best talent in the industry is important but making sure they are available when you start the hunt is necessary. So in the end it’s all about the timing because the right person would be at the right place only at the right time.
Being one of the best Executive Search Agency in Germany, we have learnt that the one thing that is central to all executive searches is timing , timing and timing.
The Early months of the Year (January to March)
January – March Window is the most fruitful time to start your executive search. This is because most people tend to quit early in the year for many reasons.
- The employees need some time to impress their organisation before their annual bonuses which usually takes place towards the end of the year.
- Holidays are a distracting time where nobody would be willing to quit their job and take up a new job with initial extra load that comes with it.
- A new enthusiasm can be felt in people after the holidays and hence the best pool can be tapped upon.
- People joining in the beginning of the year are less likely to take leaves and hence more value can be expected out of them.
- It is the beginning of the year and the recruitment budget set is fresh and plenty and hence you can be a little lenient in the negotiations.
The Period of Recruitment – Early January and August
We have already discussed about the importance of the Early january. It is also considered as a golden period because this is the time when many management courses are almost ended and there are plenty of fishes in the pond ready to be caught by your net. This is the time when you are back from holidays and find a dozens of resumes in your email box. Who knows, which will come in handy in the near future.
Early August is the time that is important for only a single reason – Low Competition. There are less hunters as compared to number of candidates and hence best could be picked with least effort and time.
Times to Avoid
Winter is the one time which I would suggest is a bad time to start any new recruitment process because you would not find what you are looking for and end up wasting your money. No one would want to quit his/her job at such crucial time of year.