In the English language, we love to give multiple meanings to words. One such word is “unicorn,” the legendary one-horned equine creature that dates all the way back to early Mesopotamian art.
Today, however, we tend to use it as an umbrella term for something uniquely perfect. NBA fans ascribe the term to skilled athletic giants like Giannis Antetokounmpo and Kevin Durant. Startups valued over $1 billion are deemed “unicorns” by venture capitalists. Human resources departments refer to perfect hires for a specific position as unicorns.
And yet, the perfect, unicorn candidate might not be the best for the position in question. There are pros and cons to unicorn hunting that HR departments would be wise to remember.
Pros of unicorn hunting
1. We’ve found the perfect candidate!
Obviously, the number one “pro” to hiring a unicorn is that they’re just plain right for the job. They exceed the requirements to do the work, they have experience with all facets of the job description, and they have the most important skills needed to do the job well. They check all the boxes.
As such, they’ll probably be able to hit the ground running quickly and feel fully integrated into the job faster. That benefits the entire company, and especially the teammates the unicorn is working with.
2. People like doing what they’re good at
According to a 2022 Gallup poll about what employees want from their jobs, 58% of respondents want to be able to do what they do best. A person only qualifies as a unicorn if they’re perfectly suited for a particular job. When the match between candidate and job is so compatible, it can feel like corporate kismet.
The perfect employee doing a job they’re particularly well-suited to perform is a good recipe for a happy employee and a happier team.
3. Attracts better talent
People want to work with other qualified people. That’s just a no-brainer. Building a competent (or even exceptional) team that others want to work with is just good business for an HR department. Unicorns may seek you out as they look to be part of a figurative herd of unicorns and may be right for other positions within the organization.
Cons of unicorn hunting
1. An exhausting hiring process
The thing about unicorns is that they’re rare. It’s (sort of) right in the name, unicorn may mean “one horn,” but it can also be taken to mean there’s only one individual like this!
Now they’re not that rare, certainly, but if you’re set on finding the absolutely perfect person for a position, you will likely be looking for a long time. You’ll probably interview many good candidates but pass over them because they’re not the unicorn you’re looking for. That’s a great way to put undue pressure on yourself as an HR professional, as well as the entire organization.
They say “perfect is the enemy of good.” When you’re exhausting yourself looking for a unicorn, you’ll know exactly what they mean. And there’s the distinct possibility that business issues may be created by leaving a critical job unfilled by a good match because you’re pursuing perfection.
2. Unicorns might not actually be that great
When searching for candidates, many hiring teams use the job description approach. They’re looking to check as many possible boxes as possible on the job’s duties. But that doesn’t exactly guarantee that your unicorn is really good at all of these things.
Great employees may be very well-rounded but, usually, it’s one really advanced skill that makes them stand out from their peers. While a unicorn may have at least some proficiency in everything you’re looking for, they might lack that one really extraordinary skill for team-building, communication, or project management that you’re really in need of.
When you’re only hiring for the position in front of you, it can make you overlook more abstract qualities in other potential candidates that might make them better fits for your company.
3. Unicorns don’t stick around
Unicorns are notoriously difficult to catch, but they’re also incredibly difficult to keep once you do have one.
Retention is crucially important to all organizations, especially as the employee turnover rate skyrockets in the post-pandemic world. Unicorns, unfortunately, are often in high demand. Gallup finds that compensation and benefits are the most important things to employees today, so if you aren’t able to beat the competition, you may see a unicorn jump your fences into a greener pasture.
That’s the double-edged sword of the unicorn. They may come in and do a great job, but headhunters will always be coming for them. Is your place of work and job offer better than any others they’ll get in the next five years?
Unicorns are pretty, they’re exciting, and they may bring some magical properties to your business. But everybody is looking for them, and they may only look perfect on paper. Unicorn hunting is a dangerous game for HR departments, so it’s important to stay aware – and wary – of both the benefits and the drawbacks.
