Hiring: "Best in the Market" or "The Best on the Market"?
In the ever-evolving world of recruitment, a hiring conundrum persists: do you hire the "best in the market" or "the best on the market"? While the difference might sound subtle, in practice, it can mean a world of variance for your company. Let's dive deep into these two categories to help you make the best hiring decisions for your organization.
Best in the Market:
This category represents those top-tier professionals who are happily employed, aren't actively seeking new opportunities, and typically don't have a resume ready to go. They are often key players in their respective companies, spearheading projects and driving results.
The Best on the Market:
These candidates are currently unemployed or actively looking for a change. They are in the market, have updated resumes, and might be entertaining multiple job offers.
Making the Choice:
1. Understand Your Needs: Before you decide on the type of candidate, understand what your company truly needs. If you need immediate expertise and quick onboarding, maybe someone who's on the market would be best. Conversely, if you're looking for a strategic hire who can bring long-term value, it might be worth the effort to court someone who's best in the market.
2. Go Beyond the Resume: Don't judge candidates solely by their employment status. Dive deep into their skills, experiences, and cultural fit.
3. Cultivate Relationships: Building relationships with top talent, even when they're not actively looking, can benefit you in the long run. When they decide to make a move, your company will be on top of their mind.
4. Keep an Open Mind: The distinction between the best in the market and the best on the market isn’t rigid. Every candidate is unique, and generalizations don't always apply.
The debate between hiring the "best in the market" versus "the best on the market" is ongoing. The key lies in understanding your company's immediate and long-term needs and being open to evaluating candidates on their merits, rather than their current employment status. Remember, a strategic hire is about finding the right person for the job, irrespective of whether they're actively looking or contentedly employed.
Thanks for Reading
Managing Director at ZRG Partners, Global Executive Search Firm and Founder of Executive Athletes, the #1 based online community for executives who are athletes!