Everyone should already know that the best time to recruit is when the competition is low. However, it’s difficult to find corporate recruiters who routinely report to their hiring managers the current level of competition faced in relation to their newly opened job.
The technical term for this external analysis is the “competitive landscape” for the job. A typical competitive-landscape report might begin by revealing the total number of currently posted competitor openings for that job, as well as the names of the top firms that have current job postings for them. Having this information would allow an individual hiring manager to use the powerful strategy known as “recruiting when the competition is low” to dramatically increase their quality of hire.
It’s important to realize upfront that recruiting competition does vary dramatically throughout the year. One study revealed that across all jobs, the highest job-posting competition occurs in January and the lowest competition occurs in April. For example, hiring managers could take advantage of this variation in competition if they knew historically that during January, all of the top ten strongest industry employers recruit for a given job and that the total number of current openings for it was 96. With this information to guide them, hiring managers might choose to postpone their recruiting until the low competition month of April, when on average there might be 50% fewer openings and only 10% of the top firms would historically be recruiting for this position.
And finally, for hiring managers that work at lesser-known and small farms, this competitive-landscape report may result in a rare opportunity to land an exceptional hire — as a result of using data that reveals when recruiting competition for this job is especially low. Read more here…