Many factors impact just how quickly a company will progress through the hiring process. Having a sound understanding of the speed of hiring can help a contractor immensely. For example, if you are on contract and your assignment will be wrapping up, knowing how long the hiring process will take ensures you begin earnestly looking for your next “gig” at the correct time – not so soon that a new offer comes in before you’ve fully completed your assignment; and not so late as to have an uncomfortable gap in your work and income.
Having multiple offers in hand is a great scenario for a contractor but having multipleinterviewson the go and one mediocre offer in hand is a little more difficult to manage. Do you turn down the offer in the hope that one of the better interviews results in some business? After all, a bird in the hand is worth two in the bush. Having a solid understanding of the timelines involved may help you to determine whether you can wait to provide your acceptance of the present offer or whether you need to jump at what you’ve got for certain.
The following is a list of factors that lengthen or shorten the hiring cycle and why:
Reason for hire:Is the company initiating a brand-new project? If so, there could be delays in the process. Or are they replacing a key person within an ongoing project? This could indicate a need for someone very quickly.
Interview Process:How many interviews will be required as part of the client’s hiring process. It isn’t uncommon for some companies to have one interview and make an offer. However, some clients like to have multiple interviews before settling on their candidate of choice.
Market conditions:When supply of contractors is robust vs. the demand for work, we often see companies taking more time to make a hiring decision. The opposite is also true… tight labour markets mean that qualified contractors need to be snapped up more quickly or risk losing them to another company.
Complexity of the job description:Some customers ask for a “shopping list” of qualifications and experience that is so long that no-one exists with everything that they want. These clients need to scale back their “must-haves” and will begin interviewing the candidates that have portions of what they desire. These customers are often slow to make a hire, hoping that some unicorn-candidate will magically become available.
Number of candidates being considered:If a company interviews 2 or 3 potential candidates, they tend to make quicker decision than companies who interview 7 or 8 or more.
Motivation of the hiring manager (or lack thereof):Deadlines, looming vacations, competing priorities all factor into the level of urgency hiring managers will have.
Level of bureaucracy:Some companies have an extensive internal hiring process that require levels of approvals and sign-offs that can drag offers out for weeks.
Dynamism of the environment:Many corporations have a very fluid environment, where programs and projects are continually in flux. Timing of hiring is often impacted when this occurs as they attempt to coordinate the entry of the new contractor(s). Depending on the situation, this could speed up the hiring process or slow it down.
Timing of other, similar projects in the local market:Projects may be delayed or fast-tracked based on other projects of a similar nature either starting up or winding down elsewhere in town. For example, if there are a number of simultaneous SAP projects already in-flight in the local market, a company wishing to start one of their own may delay their hiring to coincide with one of these other projects winding down. The opposite can also be true… back when everyone had a Windows 7 implementation in their plans, the companies who moved fastest to hire/build their teams were able to acquire the cream of the crop… they were motivated to move quickly.
These are just some of the things that can impact the speed at which an offer is made. Be sure to ask your recruiter about these the next time they speak with you about a new opportunity and you will understand the issues at play – the better the information that you collect, the better your decision making will be.