The Easter Road side completed the signing of the 19-year-old with minutes to spare on transfer deadline day with an agreement that he would continue his development in Kirkcaldy until January.
"The deal wouldn’t have got done otherwise. We had to make sure we were giving ourselves four months to find a replacement.
"Dylan’s absolutely buzzing at the move. It’s a great move for him; Hibs are a great club with amazing facilities at Easter Road and at the training centre. I’m absolutely delighted for him.
"It’s good that a club like Hibs has recognised how well he has been doing and Dylan has an opportunity now to leave the club on a high – hopefully – when we play Dunfermline in his last game [on January 2 2022].
"Hopefully we get a great send-off for him after he’s given us another four months of excellent performances.
“On the back of losing Lewis Vaughan it’s another blow but if we want younger players to come to us we need to show them that this is an opportunity they can get.”
Tait crossed the Forth for an undisclosed fee but McGlynn insisted that money wasn’t a factor in the transfer.
“We didn’t need to sell Dylan; it’s about sending a message to younger players that Raith is a great place to develop and further your career,” he added.
"I’m proud of the fact that we’ve brought a player through from the reserves to the first team. We’re delighted, and very proud of him.”
McGlynn admitted the uncertainty of football also played a part in the deal.
"I was at Hearts when Burnley wanted to sign Andrew Driver for £2.7 million and they knocked it back. Andrew was then injured for the next two or three years and hardly played.
"If we denied Dylan this opportunity we might have an unsettled player, he might not kick on here – you just never know what’s going to happen.”