Ask a Cannabis Insider: Why is Q4 the Best Time of Year to Start Hiring?
Christine Hodgdon is COO at Vangst and has over 20 years experience hiring, developing and leading international teams.
As we head into Q4, it’s probably a safe bet that your cannabis company is thinking about hiring -- just not right now, that’s a 2021 problem. I get it, I’ve been in your shoes.
Conventional wisdom dictates that the end of the year, with all rushing around the holidays and vacations, tends to be the slowest hiring time and then, as soon as January 1st hits, the flood gates open. However, the cannabis industry so often defies conventional wisdom, and when it comes to future-proofing your org chart and finding the right candidates for critical roles, arbitrarily freezing new hires for three months is just not a sound business decision. Giving up because “well, holidays” is not gonna cut it.
Christine Hodgdon, Vangst COO
"Let’s dispel the myth that slowing down hiring at the end of the year is a best practice as there’s no evidence to show that this plays to a companies favor. In a rapidly growing industry like the cannabis space, it could actually cost you exceptional job candidates."
First off, let’s dispel the myth that slowing down hiring at the end of the year is a best practice as there’s no evidence to show that this plays to a companies favor. In a rapidly growing industry like the cannabis space, it could actually cost you exceptional job candidates. Let’s look at the reasons why you should make hiring a priority in Q4 and how to clear hurdles related to recruiting:
Your 2021 hiring strategy needs to start in 2020
A new year means new talent hitting the market when job posts are plentiful. But the competition for the top talent is also fierce. Given all this, a hiring strategy worth considering is hiring for your Q1 needs in Q4 and locking up top talent before they commit to anyone else. Conduct your interviews now and make offers for starts in 2021 while the masses are waiting until the new year to execute their hiring plans.
Waiting to hire or making the wrong hire will certainly cost you more
If there’s just one piece of advice you take away from this post it’s that waiting to hire until you’re in dire need for candidates is the wrong approach. If you’re hiring from a place of desperation to have that VP, director, or manager role filled, that attitude often results in hiring mistakes, which can be both costly and time consuming.
You’ll have an edge on the competition
While companies follow the orthodox thinking of sprinting into 2021 to increase headcount, by seeking out talent ahead of time you’re no longer competing for the same candidates. Make some of your cornerstone hires while your competition is on autopilot through the holidays.
You’ll avoid slamming too many initiatives into the start of Q1
Here’s what typically happens at the start of a new fiscal year: budgets are rolled out, performance reviews get underway, and big ticket initiatives kick off. Do you really need to add hiring priorities to that long list if you don’t have to? Use your bandwidth more effectively by executing your hiring plan early.
Quality candidates are currently looking for roles right now
You’ll even have access to a different pool of candidates. Grab passive candidates before they become active.
With remote interviewing, more candidates are accessible than ever before
Taking a silver lining during these times of quarantine and social distancing - hey we’ll take them where we can get them - many of the logistical roadblocks to locating and identifying top candidates are out the window. Any cannabis recruiter worth their salt has expanded their rolodex to include candidates in ancillary roles who can work remotely as well as plant-touching professionals who are untethered and willing to relocate.
You can avoid ALL the admin stress of recruiting through the holidays
Here’s where our (hopefully well-deserved) plug comes in: Vangst’s Direct Hire recruitment solutions take the pain out of coordination -- from screening and scheduling interviews to reference checks and offer negotiations and every step in between. You’ll have a personal Talent Manager driving on your hiring needs, giving you the breathing room to run your business or even just pick out an ugly sweater for your company holiday Zoom call. Companies who turn to Vangst experience a 91% success rate of hiring the right talent the first time.
This proactive hiring approach can not only prepare your organization for 2021 growth but will help ensure you hire the right talent because in my experience getting started early on hiring needs yields better results. Not sure where to start? Schedule a demo and we’ll help you build a hiring plan.
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