How do you acquire the best employees? Your human resources department will tell you what they look for in a job candidate. It is likely they’ll cite things such as key resume phrases, and of course solid references. This technique is perfectly fine for filling most job billets, but it is inadequate for those jobs that require a certain level of experience and expertise.
A strategic human resources plan needs to be executed when a company is looking for new employees to take on executive jobs at a senior level. Many times, these potential new hires will require a certain degree of enticement to leave their current position for another. Another direction is executive search consultant services are also valuable when a business is attempting to diversify their employee base for better performance. Hiring with this aim in mind requires finesse.
In a recent survey of 1,400 executives undertaken by Robert Half, the reasons why an employee may turn out to be a failed hire were discussed. Analyzation showed that about one-third of those surveyed believed that a poor skills match was to blame, after accounting for any notable performance issues. A close follow up of 30% of executives believed providing the employee with unclear performance objectives caused confusion, resulting in unmet expectations. This implies that a failed hire can result due to a misunderstanding of what a job entails as well as how one’s success at the job will be measured. Either way, an issue in understanding can waste time and money on both sides of the job.
If much of an employee’s failings can simply be a result of inadequate communication, what is the solution? Clearly then, communication ranks high on the factors that lead to a good hire. Executive search consultant services at times act as the mediator in the hiring process, by finding the best candidates and then ensuring those candidates understand what will be asked of them at work. Doing so weeds out those candidates that may look perfect for the job on paper, but under pressure reveal their inadequacies.
Executive search consultant services are also used by many employers seeking to increase the diversity within their employee base. Other than being the decent and fair thing to do, promoting ethnic diversity within a company was proven by McKinsey to increase performance by 35% as compared to peer companies. Gender-diverse companies were also proven to outperform less diverse companies by about 15%. Different perspectives are essential for company growth and vitality.
The old model of having prospective candidates come to you works for some business models. When a job does not require much technique or experience, it is simpler to train the employee to be what the position requires of them. But for those companies that want to stay competitive and hire the best fit for a highly technical job or to fill a senior level position, it might take a different approach to acquire the right employee. In that regard, the task might be to go out and find them, at least before your competitors do.
If you are starting the hiring process, working with experts in hiring and recruitment makes a lot of sense. Experts at executive search firms can be very helpful in hiring new staff that will stay with your company for a long time. It is estimated that 22% of new hires leave their jobs within 45 days. Common problems they encountered were include poor performance and temperament issues. Employment issues can cost a company anywhere between 30% to 150% of that person’s salary. Companies that have programs for employee programs report that their workers are happier. Here are some questions you should ask before you hire an executive search firm.
- Get their completion rate. Not all searches are successful. You need to find out from the talent acquisition management service how often they are able to successfully place applicants in jobs. You want some assurance that the time and money you put into the hiring process will be worth it. You need to get specific numbers on this point.
- Ask about who at the executive search firms will do the actual work. Often executive search firms do not have the same staff member who signed a new client do the actual job search work. When working with HR executive recruiters, it is important to know when you sign the paperwork who exactly will handle your project.
- Ask about how many search projects they have at the same time as yours. That can change at just about any time. If they have a lot of projects make sure yours will get the attention it needs and deserves.
- Ask for a timeline. You should be able to get a timeline from the executive search firm. They can tell you when they will complete the research phase into the process and start bringing in candidates for you to talk to. Some of this has to be flexible as your time has to scheduled so they can really get to know you and determine what you needs are and to develop a plan to address them. You can get from them a basic estimate of how long they expect your project to take.
- Ask about their guarantee. Many executive search firms offer guarantees of their work so if they are not successful the first time they try to place an applicant in a position. They basically will do the job a second time if the first placement does not work out. This gives you a sense of security and gives the firm more of an incentive to get it right the first time.
- Ask about happens if a search needs to started over mid process. The vast majority of executive search firms will stick it out with you until they find the right person for your opening but there are times when that is just not possible. If something changes so drastically that you have to alter your arrangement with them and start everything all over, you should know what your options are. It is always preferable to stay with the same company throughout the search but sometimes that is just not possible.
- Ask how they do their interviews. There are a lot of ways companies screen job applicants. There are regular phone calls, Skype call or in person. Each offers its own distinct pros and cons. You can also get different amounts of information from each method. You will want to know what the executive search firms do about interviews and what their methods are. Some use personality tests and others use skills tests to measure their candidates.
- Ask about their deliverables. You want to get a schedule for the deliverables they will give you for the hiring process. You should know what is expected of you and them to keep everyone on schedule and on task. The hiring process is longer than people expect and you want to know that progress is being made on your project.
The task of finding and hiring new staff is long and arduous but it is critically important to the success of your business. When you go with an executive search firm, you have experts in hiring on your team and you up the chances that the new hire will be successful.