Risks When Hiring From Your Competition

Have you ever considered hiring talent from your competition? It’s a perfect pool, right? You know they have the skills to do what you need, and you may not have to give them much training. But is it ethical? And even if it is, is it legal? Here are some things you should know, even if there isn’t a non-compete in place to make sure the process stays smooth.

What is a Non-Compete?

The one you will run across, again and again, is a non-compete. Many employers have their employees sign these agreements suggesting they can’t work for a direct competitor for a certain period after leaving their company. Many people view non-competes and unenforceable, but that isn’t the whole truth. There are ways to work around it, such as allowing the employee to work on another aspect of the business that doesn’t directly compete. Always talk to a lawyer before making this kind of employment decision.

Hiring Passive Candidates

There are a couple of ways to hire someone away from your competition. Passive candidates are those not currently seeking new employment, but they may be open to leaving their job for the right offer. You need to be careful about directly poaching employees from a competitor, so you don’t create bad will or give your company a bad reputation in the industry. But there may be occasions where someone possesses very specific skills that would benefit your organization. Give them a good reason to want to leave.

Hiring Someone Fired

Another way you may run across former employees of your competition is through those who were recently let go. There could be a few reasons for this, and not all of them are bad. If someone was terminated from the other employer, dig deep to understand what happened in that relationship. If there are no red flags, consider hiring them. Other employees may be part of a layoff through no fault of their own. They will be a great resource for your company.

Diversify Their Experience

When you do hire a new employee from a competitor, think of ways you can improve their career to entice them to stay with your organization. Keep in mind that if someone was willing to leave a job to come work with you, they may be willing to leave your company when a better offer comes along. Provide the means to diversify their experience and invest in their personal development.

Do you want to find the most experienced employees for your open positions?

The team at CornerStone Staffing can help today, we have the pre-screened top talent you need, request an employee today, or call us to discuss your needs.



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