Hiring in a Tight Market

From the outset, let me be clear: don’t compromise quality for speed! In a rapidly growing economy with a tight labor market, you’d be surprised that the risk of business failure can go up.

Why? Everyone wants rapid growth, but it comes with real risks and here’s why. With rapid growth we often make compromises and ultimately decisions that we later regret. Hiring is a great example.

Patrick Lencioni says, “Engaged, enthusiastic, and loyal employees are pivotal drivers of growth and health in any organization.” When times are normal, we tend to be more methodical about our hiring decisions: Do they have the right experience? Are they a cultural fit? Do they have the right temperament? How would my customers react?

In a tight labor market, sometimes all we require is that they have a pulse! But never forget how hard you worked to build your reputation, and that reputation was not just based on you.  It was also based on the great employees you hired so you can’t afford to make hiring mistakes.

There are a few best practices to maintain with every hire: 1) Have two or more interview candidates, 2) use behavioral interviewing techniques, 3) perform personality tests for a temperament match, and 4) always talk directly with references. Each of these best practices require knowledge and skills. If you don’t have them, find someone that can help you implement them.

Focus on sustainable long-term growth, not a quick buck.