What House Hunting Teaches Us About Headhunting……And About Compensating Quant Marketers
Greetings from Cape Cod, where I arrived last night for Christmas. Within minutes I hopped on the couch and snuggled in next to my mom. It was time for our ritual marathon of watching HGTV – the purveyor of gems like “House Hunters” and “Love It Or List It.”
Not exactly highbrow, I know. But it’s Cape Cod. In December. Slim pickings for entertainment.
We watched Sally from Springfield dream of four bedrooms and an indoor pool, and then rein back to a modest two-bedroom, sans pool, to fit her budget. Then there was Todd from Toledo who dreamed of a brand new house but then realized a fixer-upper offered the right option of price and customization. Invariably, the house hunters in these shows end up happy.
Buying a house in a hot market is a lot like recruiting talent in the quant marketing space:
- Just as the balance of power has shifted away from home buyers towards home sellers, the balance of power in the talent market is shifting more towards candidates as the economy heats up.
- You will have a huge wish list at first. As you go, it’s important to separate the ‘need to haves’ from the ‘nice to haves.’ This way, you can secure your dream house/hire within a reasonable timeframe and on budget. And of course, if your wish list is really long, you may have to raise your budget or stretch your timeline.
- There’s the uniqueness factor. No two houses are exactly alike. And no two people are exactly alike. This begs a customized approach to approaching the matching process and closing the deal.
- Even when you make some concessions to fit your reality, it’s likely that you’ll be happy with your new hire, provided the cultural fit is there.
Looking to recruit quant marketing talent in early 2014? For insight into what to pay them and how to lure them, based on my conversations with hundreds of quant marketing professionals, check out my piece today in AdAge:
Pay, Expectations and Reality When Hiring Quant Marketers: It’s a New, Hot, Competitive Field: A Job Offer Needs to Be Carefully Tailored
Happy Holidaze from The Connective Good! Thank you for your business and your friendship.