Hiring in The Fourth Quarter: The Only One That Really Counts.
One month into Q4 I don’t need to remind you of the occurrences of the last 7 months of this year. Instead, I’d like to reflect on the end of 2020 from a hiring perspective — and as bizarre as this year has been, I’ve never seen a busier hiring quarter than we are seeing right now. After all, at the end of the game, the fourth quarter is the only one that really matters.
After all, at the end of the game, the fourth quarter is the only one that really matters.
I’m a lifelong Packer fan. I probably lost a few of you already, or angered others but insert and replace “your team here” and let’s keep moving. My father is a Green Bay Packers Season Ticket holder. He sat on that waiting list for years, or decades to get the 4 seats that he is usually so proud to behold. Hell, I even put all three of my daughters on the waitlist (on the days they were born!), so at least when they are my age, three decades later, they will have a fighting chance to buy tickets for their families too.
Anyone who has played, watched, or heard of sports — knows that the 4th quarter is where the final score of the game is decided. Hence my end of the year of the pandemic hiring reference enters here. I’ll do my best to pull at some heartstrings other than the Pac right now. In 2017 the New England Patriots came back 3–21 to beat the Atlanta Falcons, in the SuperBowl. In the 4th quarter. In 2016 the Cleveland Cavaliers defeated the defending NBA Champion Golden State Warriors, in the fourth quarter of the NBA Finals. In the 2017 Rose Bowl USC would beat Penn State with a 46- yard field goal with no time on the clock, in the fourth quarter. The list could go on, and I’m sure there are articles out there defining all these buzzer winning moments. At the end of the game, although the first three quarters are important, at the buzzer the only thing that matters for both teams is the performance in the fourth quarter.
The first quarter of 2020 started strong — things were normal. Australia did have those terrible fires ( ya, remember that?), but the technology hiring world stateside thrived on. Hiring Managers had rebooted their budgets and assessed their team needs, and we're actively hiring. But by the end of the first quarter, we had entered our COVID-ridden March, and that pushed us right into a hiring standstill through most of Q2 in most industries. However, as a technology recruiter, we did see a surplus of jobs come through in niche markets ( i.e. ecomm, fintech, healthcare, SaaS, distribution and delivery services, tech giants, .gov, etc). I wouldn’t call it a “boom”, but for sure a surplus when other industries were frozen. Many Americans who were actively interviewing at this point in Q2 felt the hiring freeze smack in the middle of the recruitment process — and were left either unemployed or stuck in a role they had just initiated an exit for. But we moved on. As humans, we all shifted focus and attempted to adapt to the new norm, and the companies that would soon survive, and even thrive — had to do the same.
The beginning of Q3 brought a lot of questions to the table in the hiring industry. Should we be hiring? Can we be hiring? What will happen if we don’t hire? Companies that realized this remote life for their employees and the behavior and needs of their consumers and clients were changing started to actually grow. We all had to continue to adapt to our “new normal” to grow, companies actually aren’t any different.
Hiring managers that brought their team’s needs and gaps early on to the table were now being allotted the budgets to fix them. From what it sounds like, this process was no walk in the park — and did require more data and analyzing the growth strategy more than ever before in their history of the third quarter. But rolling with the punches would position a resilient hiring manager ready and eager to fill those roles, and they would soon come to the kick-off of the fourth quarter with much strength. And that brings us to now, the cardinal Q4.
One of the hiring trends for Q4 my team is seeing in the market is Startups. More so now than ever actually. Startups that pushed through the pandemic and decided to build, and/or create solutions for today’s new world problems are the ones receiving funding and are hiring immediately. And this isn’t just a role here and there. It’s C-Suite positions, it’s leadership roles, it’s entire twenty-person engineering teams, etc. It’s overall growth. We are also seeing candidates coming in from large companies taking the leap to a Startup or small or midsize companies. There is no 100% job security certainty anymore ( if there ever was), but if you are in technology right now you can pretty much guarantee that if you start putting feelers out, you’ll be added to the candidate draft.
Although the hiring field has changed, the hiring game itself has not.
Urgency is the name of the game in the fourth quarter. Although the hiring field has changed, the hiring game itself has not. Where in the past I’ve seen the recruitment process from first resume submission to the signing of the offer take anywhere from 3 weeks to 2 months in Q4. Now, the clock is ticking and if your candidate is talking to you — they are most likely also talking to at least 2–3 other hiring teams too. I’ve seen the hiring process become much more tight and efficient. For example just last week, I had lost a Dev Ops candidate who had just a one-hour interview with the CEO and CTO and had an offer before midnight that same day. The fourth quarter is game time. If you are serious about a candidate — then it’s time to get serious about the process.
The advice for candidates is somewhat the same — time is of the essence. But for candidates, this is one of the most level playing fields we’ve seen in a while. If you are starting to think, should I be putting feelers out there? Then the answer is easily yes, you should. Often candidates forget that the ball is literally in their court until the very end. I often remind candidates just getting back in the game, the company may be the decider on whether or not an interview, second interview, and/or offer is delivered — but only you as a candidate have the final say on whether or not you sign on the dotted line. The “ buzzer” is ultimately in your hands. Nothing ventured, nothing gained.
How are candidates finding out about these great roles out there? Well working with a skilled and specialized recruiter is always a recommendation of any technology recruiter — of course! But being “in the know” of tech mergers, acquisitions, lay-offs, funding, and industry trends is the way most of the top candidates are made aware of opportunities. Incorporating your favorite tech Podcasts into your routine is another way candidates often hear about new companies hiring and the trends of the market. Also keeping your LinkedIn updated and active is another way to learn about roles and new companies. Joining communities such as slack and even writing blogs are other great ways to get discovered or approached about new opportunities.
The advice of any recruiter to a Hiring Manager right now would be — if you have a all-star candidate, let them know and keep them engaged and excited. Transparency is the best solution for keeping a candidate ready to accept. Feel free to read my previous article on Tips for Remote Hiring Managers here and land your next top candidate — with no fumbles.
We aren’t going to forget the first three quarters of 2020 — that is for sure. But as humans, we should at least learn from them. We can’t forget the first three-quarters of the game if we want to learn and grow in the fourth. Whether you are looking to hire, or are the one looking — keep in mind the countdown is currently on, but the ball is still in your court. Run with it.
Got feedback? Looking to work somewhere awesome? Trying to hire? Wanna just talk football? I’m happy to discuss any of this and more. Add me on LinkedIn here or feel free to email me kschaer@teemagroup.com .
