The most common recruitment trend we are seeing is every functional leader screaming for the budget to hire for a role they had to downsize in 2023. After another challenging year of layoffs and budget cuts, hiring has become a luxury for many organizations.
For those lucky few who manage to secure a hiring budget, reality presents a tough set of headwinds:
A significantly reduced salary band: Companies aren’t offering the same compensation packages they were a couple of years ago.
A bonus plan based on company performance: Let’s be honest, business performance has been rocky, and bonuses tied to it may not be as motivating as they once were, especially for individual contributors.
A requirement to be in the office: In a world where remote work became the norm, being asked to return to the office, even part-time, can be a significant deterrent for many candidates.
In times like these, leaders who thrive are selective about where they invest their time, focusing on solving the most pressing problems that will yield the greatest return for the business. When it comes to the time investment of hiring, the first step is deciding who you actually need to hire. This means determining whether you need a unicorn hire—or if an average candidate might be just what you need.
Do You Need a Unicorn or Will Average Be Enough?
Let’s face it: not every role requires a rock star candidate with an impeccable background and a resume full of high-profile companies. Sometimes, an average candidate is exactly what the business needs. Yes, you read that right—an average hire can be a practical, effective choice. And, given current constraints, it’s worth seriously considering.
Case in Point:
One of our recent clients—a mid-sized tech company—needed to hire a Product Manager to help address pressing product development challenges. The head of product, a savvy and pragmatic leader, quickly recognized that finding a unicorn in this market was unrealistic. So, they made the smart decision to optimize their time and resources by taking a more practical approach.
Here were their hiring criteria:
- Graduated from university 8-9 years ago
- 2-4 years of experience working as a Product Owner
- Started their career as an engineer, meaning they understood the technical side
- Based in the same city as the company’s HQ, so they could be available for on-site work
What was notably less important to the hiring manager (taking the pool from unicorns to a wider more available and attainable pool):
- Domain expertise wasn’t a top priority
- Detailed knowledge of their specific users wasn’t critical
- The size and scale of the candidate’s previous companies didn’t matter
The goal was clear: find a capable, mid-level Product Owner who could work closely with the engineering team and focus on execution and output. No unicorn required, just someone dependable and experienced enough to get the job done.
In this case, optimizing for speed and practicality over perfection was the right approach. The result? A quick and efficient hire that solved the immediate problem, allowing the team to keep moving forward.
Why “Average” Can Be a Strategic Decision
In certain situations, an average hire isn’t a compromise; it’s a strategic decision. When hiring for highly specialized or leadership roles, it might be essential to hold out for the perfect candidate. But for roles that are more execution-focused, like mid-level product or project management, waiting for a unicorn could mean wasting time and resources you don’t have.
An average candidate can often bring the following benefits:
- Faster time-to-hire: on a reduced budget, it’s easier to find solid candidates who meet most of your needs without waiting months for the “perfect” one.
- More flexibility: average candidates tend to be more adaptable, willing to grow with the company and take on new challenges, especially when they don’t come in with preconceived notions about what they should be doing.
- Lower cost: they’re more likely to accept a lower salary band, particularly in a market where top-tier candidates are increasingly expensive.
- Better cultural fit: sometimes, candidates who don’t have all the bells and whistles can blend more easily into your company culture, especially if your team is lean and scrappy.
The Persona You Need vs. the Candidate You Want
Every hire comes with a trade-off, and it’s crucial to identify which trade-offs you’re willing to make. Do you need someone with deep domain expertise, or is technical proficiency enough? Can you live without extensive leadership experience if the candidate excels in collaboration? Are you hiring for potential or for immediate impact?
By clarifying the persona you need to hire, you can avoid getting stuck in a prolonged hiring process or making unrealistic demands in a difficult market. Sometimes, choosing to hire “average” is the best way to keep your business moving forward efficiently, solving the problems that matter most right now.
When Average is the Smart Choice
The reality is, you may not always need to hire the best of the best in every case. Depending on your team’s immediate needs, business priorities, and budget constraints, hiring an “average” candidate can actually be the most practical solution.
So, the next time you’re faced with a hiring decision, ask yourself: Do you really need a unicorn, or is an average hire exactly what you need to get the job done?
Ready to optimize your hiring strategy? We solve for that. We’re here to help you find the right persona for your team—whether you’re seeking a unicorn or an exceptional “average” hire.