The unicorn candidate. Elusive in nature yet much sought after by employers. Touted as being able to bring many skills to the table and manage multiple positions or projects, these rare creatures are hard to find and hard to win. In today’s tight post pandemic recruitment market, searching for unicorns is a strategy that’s unlikely to succeed. Here are five reasons that it’s time to stop looking for the unicorn candidate.
1. It’s a jobseeker’s market
Good candidates across multiple industries are in short supply. Whilst you may be focusing on finding the perfect unicorn for your business, other well-suited candidates are being snapped up by companies who are focusing on filling jobs quickly and efficiently. Waiting for the unicorn candidate to appear isn’t realistic or appropriate in the current market.
2.You’re wasting valuable time
What if one unicorn candidate exists in every 1,000 applicants – how much time are you willing to spend to find them? Are you willing to use your valuable time waiting for the magic number? The more time you take looking for the elusive, the less productive your company could become, particularly if you have vacant roles to fill.
3.You’re squandering money
How much does it cost your business each time you recruit? And how much does it cost the business when a role remains vacant? Spending money on a long and arduous hunt for something that doesn’t exist can not only cost the business financially but in time and resource as well. And both of those can negatively impact efficiency – and the bottom line.
4. You’re missing other good candidates
When you’re focused on finding a unicorn candidate, you’re missing out on other viable applicants. Fewer candidates have the exact skills and experience a position may require. Those that fit well with the company and have most of the prerequisites are all potentially great recruits. But if you’re passing those people over in favour of the unicorn, those unrealistic expectations could seriously affect your business.
If the above points have hit home, then it’s a good idea to take a serious look at your recruitment strategy. Have many positions been vacant for a long time? Is that because you’re on the hunt for something that doesn’t exist? Pull your focus back to what the company needs now and work out how to best fill those positions with competent candidates. Your goal is to keep the company ticking with good people who can do the work – so leave the unicorns where they belong – in a mythical land.