You never want to hear the words, “The candidate did not work out, but we sure made the hire fast!”
We often tell business owners and hiring managers, you hire an executive search firm when you have to get it right the first time. But just how often do we get it right the first time?
Industry data suggests only 60% of new leaders make it beyond the first 18 months. Based on a recent three-year internal audit, our eighteen month retention rate is 84%.
So, what does it take to get it right the first time?
Below are 7 key areas we assess with candidates for successful alignment:
- Size, scope and scale. We start with the “3 C’s” – size of company (i.e. annual revenues, FTE, ownership structure, etc.), scope of responsibilities and ability to scale in their new role. This is a very important step to align candidate/company congruency.
- Industry experience and expertise. Companies most often desire leaders with relevant industry experience and expertise. Why? It mitigates risk, shortens the learning curve, leverages existing processes / relationships and accelerates impact of the new leader.
- Performance and impact. Some candidates struggle to articulate their impact in a role and organization using metrics. Lead with performance data against your goals to help tell your success story. It grabs our attention, helps us understand your greatest achievements and leaves a favorable and memorable impression.
- Career progression and job stability. In today’s market we know the average job tenure is roughly 3.5+ years. However, job stability still matters – especially in leadership roles – and we want to know why you left each position and understand your career progression. The hiring company will ask us about it.
- Leadership and communication. Companies want strong leaders who can develop high-performing teams. While easy to preach, it is much harder to practice. Tell us about your leadership experience — including years in management, the size and impact of your teams, your communication style, accountability practices, how you manage under stress, how you lead through change, and what your references will say about you when we contact them!
- Culture fit and core values. Are you an ideal team player? We look for candidates who are Humble, Hungry and Smart – three workplace virtues that improve the process of building high-performing teams with the right culture fit. You can download the Ideal Team Player Hiring Guide.
- Compensation, travel, location (or relocation). If not properly aligned on the front-end, the topics of compensation, travel and location (or relocation) will become a major disruption in the final stage of the process. Each of these areas impact the family unit, so make sure this is discussed and aligned before advancing in process. Otherwise, it can put all parties in a compromised position that results in an unfulfilling experience and potentially a short-lived outcome.
Our proven executive search process, which has taken decades of lived and shared experiences, yields a competitive slate of highly qualified candidates for your hiring selection.
What other keys to hiring the right leader have you found to be successful?
