How to Hire Senior-Level Executives
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.
Now that you’ve developed a strong candidate profile and are ready to start pursuing candidates, here’s more advice on how to find qualified candidates and get them interested.
Look Through Your Network
One of the first things you should consider when hiring senior-level executives is your own database. You may have already talked to many passive and active candidates if you work in a specific niche. A well-defined pool of candidates will allow you to identify the areas of expertise you’re looking for. Don’t eliminate a potential candidate just because they aren’t the ideal fit. Even if they aren’t actively looking, they may know someone else who fits the bill.
Make the Offer Appealing
Since most senior-level executives aren’t actively looking for a new job, you must make an offer that’s attractive to them. This will allow you to convince them that you’re the right company for them. It’s important to know what drives people. For instance, some executives are motivated by money, while others are driven by impact.
It’s also essential that you make an offer that’s attractive to the senior-level executives. Besides offering a good salary, you should also consider other perks such as flexible work arrangements and long-term parental leave.
Make Candidates Feel Wanted
You also have to consider the various motivations of each candidate. For instance, some people may want to take on a more prominent position, while others may be motivated by personal growth opportunities. Having a well-defined communications strategy will allow you to target the right people.
You should make every candidate feel as if they were selected based on their capabilities and experience. Instead of using generic greeting cards or templates, ensure that you include a name and a brief explanation of why you chose them over others. This will allow them to respond to your message immediately.
Be Ready to Act Fast
If you find a candidate who is a perfect fit, don’t wait for them to find another job. Instead, immediately contact them and let them know you are interested in hiring them. This will allow you to connect with them and get a feel for their capabilities.
Getting the right person for a senior-level position is a daunting task, especially since it involves hiring someone highly regarded and crucial to an organization’s success. Follow these steps to ensure that you’ll be well on your way to finding the ideal candidate.
Originally published at GeniaPhilip.com