The primary concern of CEOs and HR executives today is
hiring, developing and retaining a highly talented workforce.
Companies are continuing to compete for the most talented
executives, and forming an effective partnership with an
executive search firm is crucial to winning the war for talent.
Having decided to engage an executive search firm, you will want
to evaluate your options carefully and thoroughly. You will need to
ask searching questions:
Choose your search firm as you would your friends
Having decided to engage an executive search firm, you will want
to evaluate your options carefully and thoroughly. You will need to
ask searching questions:
Some are more obvious:
- How well do you know my industry?
- Do you have the appropriate functional expertise?
- How many searches have you done in this sector?
- How well do you know the universe of candidates?
- How well-versed are you in conducting references in this specific function or industry?
- What is your firm’s off-limits policy?
Others questions are less obvious:
- Who will actually do the work — including the interviewing
and referencing?
- How many searches are you currently handling and at what
stage are they?
- What resources will be devoted to this search?
- If a search has to be restarted, how do you reinvigorate the team?
- What is your placement rate? How do you define a successful
outcome?
- How do your placements perform? What is their promotion
track record?
Once you have covered these points, ask for an account of a failed
and a successful assignment.
Watch out for…
- Consultants who don’t come prepared to talk about realistic
solutions
- Functional or industry experts who are there only to close the
deal, not work on the assignment.
- Consultants handling numerous assignments still in their early
stages.
- Unrealistic timelines that seem geared only to winning the
work.
- A search firm that wants to be all things to all clients.
- Fees that seem too good to be true.
Make sure everyone is grounded
After engaging the executive search firm, ensure everyone agrees with what is needed in the role and the parameters of the assignment. The following steps can help avoid problems later.
What will your role be in the process?
Ensure that key executives helping to make the hiring decisions
are involved from the beginning. Their support can be critical to the success of the search process. One important factor for a successful outcome is the need to invest time with your
consultant(s) at the beginning of the search process. Get to
know them as well as they get to know you, your company, your
organization’s strategic direction…your cultural needs.
Do they know your expectations?
It is vital that your search firm understands your priorities and ask
questions such as:
- Do you prefer regular telephone updates or written reports?
- What specific information are you looking for in a progress
report?
- How many candidates do you expect to meet?
- How important is speed, and why?
- Do you wish to see benchmark candidates? Would you rather
meet good candidates as they are discovered or have the search
firm present a comprehensive slate of candidates at agreed upon intervals?
By stating what is most important to you and acknowledging any
challenges that might appear; you are giving your consultants a better guide as to how to manage the assignment (at Spencer
Stuart we call this the “Client Priority Guide”).
What can you expect when?
Your search firm should discuss in detail what you can expect and
when.
Your consultant should lead…but speak up if they are out of step
Your search firm is your strategic adviser and should lead the
search, but your insights are critical. Ask yourself if your search
consultants have done the following:
- Advised you on the state of the marketplace — compensation,
general fluidity, candidate availability, etc — and how that could
affect the search?
- Created a position specification including competencies
required for success based on the needs of your organization
and their knowledge of the market?
- Looked for potential candidates in organizations requiring
similar competencies?
- Spoken with third-party sources to identify and qualify
candidates prior to contacting them?
- Presented only candidates who fit the position specification?
- Provided strategic guidance and objectivity during candidate
review?
- Validated candidates’ backgrounds through in-depth reference
checks?
- Assisted in negotiations to help eliminate surprises and reach
agreement?
When it comes to daily management of the assignment, your
search firm should shoulder the burden. If they are not providing
you with the fundamentals, or if you are unhappy with how the
search is progressing, say so.
First impressions matter
Convincing top executives — especially those happy in their
current environment — to join a new company is not easy. During
the interview process be sensitive to candidates’ needs and
remember that they are assessing you as much as you’re ssessing
them. Be punctual and use time wisely. Ask questions related
to critical skills and behaviours required of the position but also
answer candidly any questions the candidates may have.
Avoid the common pitfalls
Having witnessed many clients make the same mistakes, we
believe these common pitfalls are avoidable:
The search loses its importance
If the position is critical to your organization, treat the search
process as such. Ensure that key decision-makers are available
and involved. If they are not, the candidate will question the
importance of the position.
Early candidates are overlooked
The best candidates can be the ones you meet early on. Have
confidence in your judgement (and that of the search firm) if you
favor a candidate you met early in the process.
Deafening silence
Candid and regular communication between you and your search
firm is critical. Problems arise when communication is lacking.
Too comfortable with “yes, yes and yes”
Your search consultant should challenge you in a professional
manner, offering perspective and guidance based on his or her
experience and industry intelligence. Beware of people who always
agree with you — this should be a consultative relationship based
on reaching the right solution.
Search consultants go silent
Make sure your search firm delivers on the stated objective and
priorities. Stress that they are responsible for flagging potential
problems early and bringing them to your attention.
Ending on a sour note
Never feel pressured to complete a search if you are not
comfortable with the finalist candidate. Your search firm should
never push you into placing a candidate if he or she is not suitable.
assuming the process is over The end of the search process is, in reality, only the beginning. Do not overlook the importance of integrating the new executive into your company.
A final word of advice
Your search consultants are critical in recruiting the best talent for
your organization and are your ambassadors in the marketplace —
how they interact with potential candidates and referrals reflects
on your organization too. By selecting the right search consultants
for your needs, establishing realistic expectations and maintaining
communication, you will increase your chances of hiring the right executive and doing so in a manner that complements your
organization’s reputation.
Recruiting the best talent through your search firm is not simply
about getting to a shortlist of candidates. It is about being a partner in a process where the participants play equal and complementary roles. The best results are achieved through mutual understanding, proper motivation, and outstanding communication.
Notes
This article forms part of the Switzerland Point of View: Winter 2006.