Our clients often ask us, "Is now the right now time to launch a search for a Q1 hire?"
It is common at this time of year for many companies to begin to plan and strategize their direction, growth, and hiring plans for 2024. One of these strategic decisions is what to do about hiring new employees for the first quarter of 2024.
We are often asked by clients about when to start the hiring process for a planned Q1 hire. If a new hire is in your plans for Q1 of 2024, the time to start the hiring process is now! Our Managing Partner, Doug De Almo, has identified four key reasons why now is the perfect time to launch a search for an employee to start in Q1.
The first and simplest reason is the length of time it takes to conduct a proper search. The hiring process can vary drastically depending on how each company operates. Even if you consider your hiring process speedy, the best time to start a search is still now.
Second, during the holidays many candidates take the time to reflect upon the past year. Reflection allows candidates to think about their accomplishments and gives them the opportunity to assess what comes next in their professional career. We often find that the best candidates are not actively looking, and this is the best time to get access to them.
Third, most companies are now entering bonus season. Bonuses are generally paid out towards the end of the year or in February or March in the new year. Typically, if a candidate leaves their role before the bonus is paid, they forfeit that compensation. Since these bonuses will be paid out soon there is no better time for a candidate to make a job change or at least entertain an interview. It would be beneficial to start conversations with candidates now so potential candidates can make a move after receiving their current bonus.
The final reason to begin a search now is that during the holiday season people are generally less busy with their current job. Beginning the search now gives search firms enough time to speak with candidates and get them started on the interviewing process before their busy work schedules ramp up in January. This allows search firms and potential candidates to cultivate interest in one another.
By starting now, you can get a head start on next year’s important objectives. Beginning the search now will allow your candidate of choice to start early into the new year, giving them ample time to be a productive member of your organization.
Douglas De Almo
Managing Partner
Michael Daigle
Senior Researcher
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