Marketing Strategy

Hire Fast, Fire Fast: New Strategies For Competitive Marketing Job Markets – Forbes

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Annelle Barnett of Marketing Mob speaks to new hiring strategies in today’s competitive market for marketing talent.  Photo credit: Jason Seagle for AgencySparksJason Seagle for AgencySparks

Building a customer-centric enterprise relies on employees building relationships, acting on insights and growing alongside the needs of customers. Underlying this is an assumption that marketing teams have the personnel they need and that they are up to the task. In today’s competitive job market, companies are changing their approach in order to stay competitive, not only in the eyes of their customers, but in the fight for talent.

Annelle Barnett runs a marketing recruiting firm, a job board, and produces and hosts the popular, Marketing Mob podcast and webinar series.  I joined her for a talk in February 2018 and we had a chance to chat recently about the new trends she sees in staffing.

“In the past, it was often advised to ‘hire slow, fire fast’ with the idea that you would spend a good bit of time doing your due diligence to ensure you’re setting yourself up with the best chance for success when selecting an employee,” she recounted. Managers are taught that it is best to take the required time to hire the best candidate with the most relevant experience and the best cultural fit. However, things are changing. “Whereas it used to take days, weeks and sometimes even months to make a hire, that is no longer the case today. Especially with high demand positions, like digital marketing and agency account positions.” Time is not a luxury that most employers enjoy today.

“Due to the competitive landscape, candidates are hired in a matter of days and even hours,” she continued. “Things can also change at their current employers. I’ve had situations where a candidate was promoted while in the interview process and they took themselves off the market.”  It is a highly dynamic space and “if you’re too slow to react to finding a great candidate, you will miss out and lose your amazing candidate to someone else, perhaps to your competitor.”  Nimbleness is winning the game in talent acquisition.

Filing open roles also has practical implications on productivity.  If an open position is filled in January, they have 11-12 months to contribute to the goals for the year.  If that same position stays open until July, the employee is only going to be half as productive that first year.  Hiring fast, Barnett continues, “allows the employer to move forward, expediting productive contribution.”

If you find yourself in a battle for great talent, what can you do to speed up your hiring processes?

First, audit and measure to provide a baseline. “If it takes more than 1 month to move a single candidate through the interview process, they should consider reexamining their hiring strategy,” Barnett advised.

Second, build your process for speed. “Calendar availability of hiring managers is the number one factor that slows down an interview process,” Barnett observed. “If a company or hiring manager is ready to hire, it should be one of their top priorities.”  Blocking time for interviews, being ready to reschedule, or even being available after hours or before the workday (when passive candidates who are currently employed might have more flexibility) can all expedite the process. “Have offer letters ready in advance and get them out quickly,” she continued.

Candidates get excited about positions. The longer the offer letter takes, the more anxious they get and that excitement starts to wear off. It’s like when you’re having lunch at a restaurant and the service has been fantastic through the entire meal but then the check takes 20 minutes. The guest often forgets everything that happened before the delayed check and they will reflect that in the tip. It’s just as important to finish strong in the hiring process. The candidates are paying attention.

And finally, “I’d say the most important thing to remember is flexibility and letting go of the way things used to be,” she concluded. “There may need to be more trusting of your gut and intuition than checking every box.”  Employers would do well to remember that “great candidates get scooped up quickly by companies with more nimble processes.”

This approach to hiring has implications on the organization that extend beyond hiring decision speed.

The first obvious downside to a “hire fast” strategy might mean more turn-over. “By hiring more quickly, the chances of making the wrong hire are greater,” Barnett observes. Not every hire will be a good fit.  They might not actually have the skills for the job or perhaps they bring with them toxicity that could spread to the rest of the team.  “A disgruntled employee has the potential for disrupting the entire company or team culture,” Barnett adds.

The impact of a bad hire can be substantial, so a “fire fast” mentality has to be adopted. “Firing fast means that an employer would let go of an employee as soon as it’s recognized that the individual is not the right fit for the role,” she explains.

This might require the organization to be prepared to spend more in severance, outplacement services, or working with employees to place or coach them into new roles within the organization. In high-impact or customer facing the roles, the risks of “fire fast” can be dramatic as you don’t want customers to lose confidence in the brand. Barnett says that in some cases it is useful to have “a training period for a month or so before the employee becomes client facing to ensure the right hire was made” before key customer relationships are fully transitioned to new hires.

Care must be taken to not fire too fast, however. “By firing too quickly, you may miss out on a great employee because you didn’t take the time to coach them or move them to another position in the company that is a better fit for the individual,” Barnett said.  If the employee is a good cultural fit and has the right attitude, often a better role can be found to but their strengths to use. “There may also be some repercussions online with employer reputation” with this strategy, Barnett warns. “If employees are fired often, the employer brand may take a hit from bad reviews on sites like Glassdoor.” Managers should always work with their human resources and legal teams to ensure compliance with applicable laws and practices, which vary dramatically by state or country.

In order to attract talent and maximize productivity, many companies are changing their hiring practices to a “hire fast, fire fast” strategy.  This approach might not always be a fit for every company, but in highly competitive roles and dynamic markets, employers may find they no longer have a choice.

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