The Cost of Bench Marking: How Delaying Decisions Can Lose You the Perfect Candidate

Hiring Managers- Are you struggling to hire for a prolonged period and wondering why?

Is your hiring process actually costing you time instead of growing your team?

In the competitive world of hiring, timing can be everything. Recently, I had an experience that perfectly illustrates this point. A fantastic candidate, who was an ideal fit for my client's needs, went through two successful interviews. Both parties seemed to be a perfect match, but my client decided to put the candidate on hold. Their reasoning? He was the first person they had interviewed, and they wanted to see other options before making a decision.

The Waiting Game

As weeks passed, my client continued to interview other candidates. Unfortunately, none of them quite measured up to the first candidate. Realizing their initial assessment was spot-on, my client decided to circle back to the first candidate.

The Candidate's Perspective

While my client was taking their time, the candidate was actively pursuing other opportunities. He interviewed with several companies, and received three job offers. Now, the tables had turned. Instead of being the top pick for my client, the candidate had multiple options to consider.

The Aftermath

The delay in decision-making had shifted the balance of power. My client, who had initially been the candidate's first choice, now found themselves in a competition for talent. Had they acted more quickly, they likely would have secured their ideal candidate without any hesitation.

The Lesson Learned

This story serves as a cautionary tale for employers who practice bench marking. While it's essential to explore multiple options, delaying decisions can have unintended consequences. In a competitive job market, top candidates won't wait around indefinitely. They have options, and they're not afraid to explore them.

Conclusion

So, what's the takeaway? If you find the perfect candidate, don't let them slip away. Trust your instincts, make timely decisions, and communicate openly with candidates throughout the hiring process. Remember, in the race for talent, timing can be the difference between securing a top candidate and watching them accept an offer elsewhere.