More of what we need or want can be acquired right now or just minutes from now. From downloads to deliveries to services on-command, the rise of the on-demand economy has made speed not just a competitive advantage. For doing business it’s a requirement.

When it comes to hiring, however, some people don’t think these “new rules” apply. They believe that speed and quality are mutually exclusive. What’s most likely happening is that they are confusing speed with haste.

There’s a big difference between speed and haste. This distinction was mentioned by Obed Louissaint, Vice President of People and Culture for IBM Watson, during a recent speech. Rather than make hasty hiring decisions, IBM has baked speed into their process for talent acquisition. 

Haste has no place in hiring. Rushed decisions often lead to poor choices. These mistakes result from an ineffective approach that wasn’t built to deliver fast and accurate hires. 

Speed is different. It is simply part of a well planned process for achieving great results quickly.

The operative words are plan and process. Fast and accurate hiring is never an accident. It happens because leaders plan for it, implement a process to achieve it, and hold staff accountable to following the plan.