The level of expertise required to recruit and retain senior-level executives successfully is higher than that of other types of hiring. This means that you need to step up your game and take the time to understand the candidate pool thoroughly. Having the right person for the job will allow you to make informed decisions and improve the efficiency of your company.
A study by the Corporate Leadership Council revealed that almost 40 percent of chief executives fail in their positions within the first 18 months. Harvard Business Review also reported that 60 percent of new hires fail in their first year.
Take the Time to Make a Cohesive Candidate Profile
The first step in any job search is creating a comprehensive candidate profile that includes the various characteristics your clients expect from a potential candidate. This will help you identify the ideal candidate for the job. However, hiring the right talent requires more than having the right skills and experience.
Before you start the process of hiring senior-level executives, you must establish a clear understanding of the expectations of your key stakeholder groups. This will help you identify the areas of focus most beneficial to the candidate. One of the most common mistakes employers make is passing over candidates just because they don’t check off every single box.
It’s up to you to determine what the market is like for hiring talent and how you can deliver a compelling candidate experience. This will help you make informed decisions and improve the efficiency of your company. One of the most critical factors you should consider when it comes to recruiting is the expectations of your clients. Another essential factor that you should consider is the candidate’s cultural fit.
Don’t Sit and Wait for Applications
Most people who are ideal for the job are already employed. However, almost a hundred percent of advanced candidates are actively willing to consider the right offer from another company. This means that they are very much a buyers’ market. You must conduct a comprehensive search to find the ideal candidate.
Since you are likely to be seeking to hire individuals who will be leaving a current position to work for you, you must remain entirely private throughout the entire process. This will allow you to contact potential candidates and keep their confidential information private. One of the most effective ways to build a deeper understanding of them is by networking.
Looking for more advice? Check back next week for more on this topic!