Holiday Hiring: To Wait or Not to Wait…That is the Question!
Hiring over the holidays has definite pros and cons. And really, you could make a good case on either side of this issue. As a recruiter, I have a bit of a bias here: I think you should always be on the lookout for talented people to build your organization. However, as much as my love for hiring will allow, I will attempt to offer a balanced view.
For kicks, we will alternate between the pros and cons.
PRO: Your competitors may be slowing down.
Some of your counterparts may decide they are too busy to be bothered with hiring during the holidays. They may pause their job ads for the next month or simply let candidates sit uncontacted until the feasting and festivities have ended. Their slowdown gives you the upper hand if you continue marketing and move quickly to connect with candidates.
CON: Not enough time!
With all the extra time off, company parties, and family events, you are short on time, too. Do you have time to fit interviews into your already hectic schedule? If the answer is No, I don't have time, save your money, and hit pause on hiring.
PRO: Candidates are thinking ahead.
With a goal of a new job for the New Year, strong candidates will be looking to interview now, often with a target start date of January (or sooner). They have some extra PTO days to use before the end of the year, and they are less likely to be noticed by their current boss if they take time off during the week.
CON: Some candidates are waiting.
Some candidates are waiting to see how generous their current boss is with that year-end bonus before deciding whether or not to jump ship. Plus, they are so busy in their personal lives—why add one more thing to do?
PRO: GEEZE! Is that REALLY what the turkey will cost this year?
Yes, inflation has people thinking about their compensation packages. As they get hit with the added expense of heat, groceries, gas, and Christmas gifts, sign-on bonuses and an extra $2 per hour look pretty attractive. We've also seen some pretty noticeable slowdowns in certain industries. If their company is in jeopardy, they may be looking to jump ship NOW.
CON: Wage inflation has made hiring expensive.
There's no denying that wages have escalated rapidly over the past few years. Make sure you evaluate the current growth trajectory of your company and your budget before adding any new roles to the company. Could shifting some responsibilities or streamlining processes create some capacity in your existing team?
Hopefully this pros/cons list will help you sift through the right hiring strategy for your team. Candidates continue to move on and off the job market quickly. If you commit to pushing forward (and I would recommend you do), make sure to leave wiggle room in your schedule to conduct interviews. Otherwise, you will spend a lot of money for not a lot of results.