Sparking Leadership #15: Why hiring unicorns is costing you more than you think 🤔

It's a buyer's market out there folks, which means that, most hiring managers (think they) can afford hiring unicorns and other mythical creatures.

Stories of dozens of interviews leading nowhere, or rejections despite seemingly perfect qualifications, are becoming alarmingly common.

The impossible standard they set? 10+ years of experience in every tool, perfect cultural fit, a track record of impossible feats, and ideally, willing to take a salary lower than their market value. It's the "why settle when we can have it all?" mindset.

🦄The risks of #hiring unicorns

On the surface, demanding perfection seems smart. More talent, less risk, right? Not so fast. The pursuit of the unicorn comes with significant downsides:

❌They're rare/ non-existing: You waste precious time. Weeks turn into months, and your team is left understaffed, picking up the slack, and burning out.

❌Perfect fit brings nothing new to the table: A candidate who ticks every box might not bring new perspectives. They might fit too well, stifling #innovation and #diversity of thought.

❌Retention risk: If a true "unicorn" is found, they often have high expectations. If the role isn't exactly as challenging as anticipated, or they get a better offer elsewhere, they're gone.

❌Stifled internal growth: Obsessing over external perfection often means overlooking incredible potential within your own #team.

Not convinced? Here's breakdown of all hidden costs

Example case: Data Analyst in the Netherlands with a €70,000 gross salary, a 60-day vacancy

🔸Recruiter fees: €14,000+

🔸Internal time (interviews & admin): Thousands of euros in lost productivity from your team.

🔸Opportunity cost (lost productivity & overtime): The vacant chair alone costs €21,000 in lost output, plus potential overtime and burnout for your team.

🔸Onboarding: Another €5,000 - €7,000+ in setup and ramp-up.

When you add it all up, total cost is over €50,000 (more than 70% of the role's annual salary) before the person is even fully productive.

💪Potential over perfection

✔️Growth mindset: Candidates with high potential are often more adaptable, eager to learn, and resilient.

✔️Culture champions: They're often genuinely grateful for the opportunity and more invested in proving their worth and contributing positively to the team's culture.

✔️Diverse perspectives: By broadening your criteria to include potential, you naturally open the door to a more diverse talent pool.

✔️Leadership legacy: Hiring for potential means you get to coach, mentor, and shape talent.

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❓What's one "must-have" on your current job description that you could reframe as "potential to learn" instead of "pre-existing perfection"?

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🌟Sparking Leadership is a weekly series on human-centered, sustainable #leadership. Follow for real talk and practical tools. In the meantime, lead with spark!