June 26, 2016 | Hiring Tips for Managers

Four Things To Consider When Hiring From an Established Competitor

By Mark Whitman

As an emerging company, it can be tempting to hire someone from a mature, established competitor or to recruit someone with a big title from a big company. However, recruits from mature, slow moving, well-established enterprises often do not survive at faster, more agile, more adaptable emerging technology companies.

Treading Carefully

Hiring from an established competitor can be a strategic move to gain experienced talent and industry insights. However, it’s essential to carefully evaluate several factors to ensure a successful transition and integration. Here are four key considerations:

1. Assessing Cultural Fit

While an employee may have excelled at a competitor, it doesn’t guarantee they’ll thrive in your organization. Evaluate whether the candidate aligns with your company’s values, mission, and work culture. Conducting behavioral interviews and involving team members in the interview process can provide a clearer picture of cultural fit.

2. Understanding Motivations

Understanding why a candidate wants to leave their current employer is crucial. Are they seeking new challenges, or are there issues at their current company? This insight can help you gauge their long-term commitment to your organization. Additionally, it ensures you’re addressing their career goals and aspirations.

3. Managing Non-Compete Agreements

Non-compete agreements can pose significant challenges when hiring from a competitor. Review the candidate’s contract and consult legal counsel to avoid potential legal issues. Moreover, having a clear understanding of what the candidate can and cannot do will help you navigate this process smoothly.

4. Leveraging Industry Knowledge

Candidates from competitors can bring valuable industry knowledge and insights. However, ensure they comply with confidentiality agreements and ethical standards. Encourage them to share market trends, best practices, and innovative ideas without violating any proprietary information from their previous employer.

Final Thoughts

Hiring from an established competitor can provide a competitive edge, but it requires careful consideration of cultural fit, motivations, non-compete agreements, and ethical standards. By addressing these factors, you can successfully integrate new talent and leverage their expertise for your organization’s growth.

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