One of the main challenges for companies in today's climate is competing for talent. It’s interesting that the pain is not limited to technology recruiting.  We are talking about a very strong economy and not enough people to fill the open roles across functions. 

I read another piece last week that talked about the shortage of qualified middle managers – those who are mid-career and desire to become leaders.

While I agree that it’s challenging hiring in a market where the unemployment rate is dropping, you can improve your probability of success.

Here are 5 Critical Success Factors for hiring in today’s market:

1. Assess the competitive landscape – This means taking a quick glance at the market.  Are you trying to hire a similar skill profile to more than 200 open positions on Indeed.com?  If so, you have your work cut out.  That 200 is actually about 10 times that number.  Only a very few positions actually hit the internet in a public manner.
2. Know who you are looking for before you start – Don’t go shopping.  Many hiring managers do the….”I will know them when I see them,” interview approach.  This won’t result in a quality hire.  You really need to clearly identify your skill/experience/personality profile in advance of beginning the search process.
3. Prepare and rehearse for the interview exercise – Get your A Team in place for the interview.  You can’t afford to misstep this process.  If you do you will either not close on your ideal candidate, or you’ll miss something during the evaluation process and hire the wrong person.  Both outcomes are painful.
4. Establish and socialize the interview agenda – The interview process says a lot about you as a manager and your company/team as a whole.  By presenting a well-organized interview, you are gaining respect and trust – both are important aspects of the candidate’s decision process.
5. Timing is everything – Here is the bottom line.  If it takes you 30 days to interview and make a decision, then you will not have access to the candidate you really need.  Figure out how to fast track your selection process – or lose to your competition.

This is an incredible cycle we are in right now. Our economy is getting stronger and it’s a land grab for talent.  As someone who needs to hire strong, you must improve your game – or stay on the sideline.