Where is the top talent?
Where is the top talent?
A guide to finding and cultivating executives in the most competitive industries.
By: Mike McDonough
Success starts at the top. If that’s to be believed, then we can assume that failure starts there too. When companies count on senior leadership to make or break their business, having the right people in place is critical. That’s why hiring for executive positions can be one of the most daunting tasks a company faces when it’s trying to grow or hold on to its share of the market.
When the landscape for those positions is fiercely competitive, it makes it seem like options are limited. And when the future of your organization hangs in the balance, you never want to feel like your choosing from options on a very meager list. The candidates are out there; they just may not be where you were looking. More and more it’s becoming harder to fill in-demand positions like underwriting by posting the position to job boards. And this is especially true on the executive level.
Looking elsewhere may cost you
When companies look outside of the organization for an executive, they typically focus on professionals who are currently working at their desired level. This person may be unhappy at their current job or just be looking for a chance to move up by moving on.
The problem with this talent pool? It’s expensive. Anyone currently working will need to feel like they’re taking a step up in both position and pay to leave their current job. All the perks will have to be there (vacation, car, corporate spending), but they also have to be sold on the company and it’s direction. That’s why, according to Fortune, it’s harder, more time consuming, and more expensive than ever to sway executives to leave their current position. To them, the risk just isn’t worth the reward.
Promotions can be powerful
One problem with bringing in an outsider for your executive ranks? They don’t know your business. With all the shuffling of high-level staff, it can take months for newly acquired talent to start contributing to your organization due to the learning curve. One solution is better training. Prepping a rising star in your organization for a high-level post can get you a known candidate that is loyal to your company, informed about its practices and retained for the long-haul, all while avoiding the risk of hiring someone from the outside.
But why wait until the need is critical to find that future exec? Start identifying those future leaders now, either within your own organization or from an outside company where their talents are being squandered. By bringing in high-achievers early, you can start training them for their future roles and get them ready to jump in and start contributing from day one. The millennial generation of employees craves responsibility and influence. By showing them a defined path to an executive position through a hard-to-fill roll like underwriting, you can start filling your ranks with ambitious, in-demand employees that envision themselves staying with your company for years to come.
Whether your looking for someone to immediately fill an executive position, or a fast up-and-comer that can fill your leadership ranks in the future, General Search and Recruitment can ease the process and make sure you’re getting the best possible candidates in highly-competitive environments. We have a wide pool of both actively searching and passive candidates that are familiar with us and ready to take on the next challenge in their careers. Contact us and let’s talk about how to get you the best executive talent to grow your company, both now and in the future.
