If you walk through any given park on a sunny day, you will see them: squirrels capering about, doing squirrel-ish things. Depending on where you happen to be, the squirrels might be red, brown, black, grey, or even white. But purple? Not likely. You could search for years, study the preferences of purple squirrels, and chase the odd report of a sighting, and you still might never find one. Even if you do, it may not turn out to be as desirable as you thought. That’s true for rodents and it’s also true for candidates.
Why Everybody Wants the Purple Squirrel
Purple squirrel candidates offer a unique combination of credentials and traits that represent the ideal fit for a particular position. In the current economy, such candidates are in high demand for several reasons:
- Superior Innovation—Purple squirrels have the vision and skills necessary to develop ground-breaking solutions in your industry. If you want to outpace your competitors, the right candidate can provide the new ideas you need to shape the future of your company.
- Economic Capacity—Highly skilled employees deliver better performance, greater productivity, and more impact for the bottom line. The right candidate will be worth much more in terms of performance value than an average employee (up to 300 times more, according to Google’s people analytics).
- Employer Branding—Hiring top performers may make your company more attractive to other top performers. Over time, the right kinds of hires help cultivate a company culture known for innovation and thought leadership within the field.
- Costs of Hiring the Wrong Person—If you settle for a candidate who isn’t exactly the right fit, you might have to let that person go and find someone else. What if he or she can’t learn the job or doesn’t successfully integrate into the position? Not only have you lost the money you invested in recruiting, but you’ve also forfeited your training investment, taken a potential hit to your unemployment insurance, and experienced lost productivity.
Drawbacks of Setting Your Sights on a Purple Squirrel
With all the benefits an exceptional candidate can bring to your business, why would you ever settle for anything less than purple? The other side of the picture is that constant pursuit of elusive candidates comes with its own set of drawbacks:
- Longer Time to Fill—Finding the person who fits your exact specifications could mean leaving positions unfilled for many months. That translates into huge losses in productivity.
- Lost Recruiting Dollars—Holding out for the perfect candidate costs you the opportunity to hire other qualified prospects. It also means your recruiter is investing resources in discovering a candidate who may or may not exist.
- Potential for Negative Impact on Employee Morale—When Mr. or Ms. Perfect steps in the door, how will his or her presence impact the morale of your current employees? Will that person fit into your company culture? Will there be personality clashes? Will your long-tenure employees feel overlooked or upstaged by the new blood?
- Potential to Bypass the Right Person—By hyper-focusing on skill sets and credentials, you may be overlooking the person who would actually be the best fit for the position. Bill Gates was a college dropout and Steve Jobs was rejected by HP. What if you are overlooking the right person based on a rigid set of requirements?
When “Good Enough” is Good Enough
Purple squirrels are difficult to find and hire, but there are plenty of other options out there. To continue the squirrel analogy, let’s say a white squirrel candidate applies. He or she has the credentials and experience you’re looking for, but isn’t proficient in the specific coding languages your company uses for IT projects. White squirrels, while more common than purple, are still unusual, and you may not get another applicant with the right qualifications. Should you snap that person up or hold out for the ideal candidate?
- When to hold out for the purple squirrel: When you’re hiring for a strategic position in your company, such as a C-level position, a senior management opening, or a pivotal role that requires superior skill, leadership, or experience, the purple squirrel candidate may be the best (or only) person who can meet the demands of the job.
- When to consider a broader range of candidates: If the position requirements include skills that could be trained, if your organizational needs are flexible, or if top talent is so rare that it will be months before you can fill the position, consider looking at candidates who may not have the exact credentials you’re looking for, but who have the right combination of innovation, trainability, and people skills.
Remember that purple squirrel candidates will need some additional drawing cards to entice them to consider a new position. These may include a better salary or benefits package, more opportunities for professional development, the freedom to self-manage and choose their own projects, or a more flexible work arrangement. The best way to get your foot in the door is often a referral or introduction from a mutual connection. Listen to their ideas, comment on their social media profiles, and seek to establish a relationship apart from your recruiting efforts. Then, when the time is right, your purple squirrel may be ready to respond to an attractive offer.
