Executive Recruiting For Dummies

 
 
Standards Information Network (Verlag)
  • erschienen am 2. März 2017
  • |
  • 312 Seiten
 
E-Book | ePUB mit Adobe-DRM | Systemvoraussetzungen
978-1-119-15911-7 (ISBN)
 
Tips and strategies to fill executive-level positions
Recruiting for high-end executives requires a special skill-set, and Executive Recruiting For Dummies is here to help you add this niche talent to your arsenal. Whether you're an in-house human resources manager or a professional recruiter at a search firm, this friendly guide walks you through each step of filling that senior, executive, or other highly specialized position. This book covers the globalization of talent and the advantages of executive recruiting. It provides expert guidance on finding the right candidates, conducting hardy screening and interviewing processes, closing deals, and more.
There are 10,000,000 businesses in America that hire at least one senior executive a year, and most turn to commissioning a third-party organization, such as an executive search firm. Rather than losing that next top-tier recruiting job, let Executive Recruiting For Dummies show you how to add this highly desirable and sought-after skill to your resume.
* Learn to recruit with precision
* Create a robust interview process
* Close the deal with a winning offer
* Find out how to work with professional recruiters
Discover how to find the best talent and retain and attract clients with the help of Executive Recruiting For Dummies.
weitere Ausgaben werden ermittelt
David E. Perry has completed more than 1,000 searches on five continents negotiating over $300 million in salaries. His near perfect success rate is 300% better than the industry average-- one reason why The Wall Street Journal dubbed him the "Rogue Recruiter."Mark J. Haluska works internationally to fill positions from upper- middle management to president and CEO -level positions. Mark is a self-taught recruiter and has packaged deals as high as $4.2M.
  • Intro
  • Title Page
  • Table of Contents
  • Foreword
  • Introduction
  • About This Book
  • Foolish Assumptions
  • Icons Used in This Book
  • Beyond the Book
  • Where to Go from Here
  • Part 1: The World of Executive Recruiting
  • Chapter 1: 3, 2, 1, Blastoff! Getting Started with Executive Recruiting
  • What Is Executive Recruiting?
  • Ace of Case: The Business Case for Executive Recruiting
  • A Demanding Supply Issue
  • Oh, Grow Up! The Growth of Executive Recruiting
  • Chapter 2: Talent Show: Why Talent Matters
  • Value Pack: Redefining Value in the Knowledge Economy
  • Paradigm Shift: Understanding the New Recruiting Paradigm
  • Triple Play: Three Steps for Tapping Top Talent
  • Chapter 3: Rock and Role: The Role of Recruiting in Business
  • That'll Cost You: The High Cost of Poor Hiring
  • Hocus Focus: Putting the Focus on Hiring
  • Fitty Cent: Fitting In . and Fading Out
  • Chapter 4: Key Club: Identifying Key Personal Characteristics
  • Work Your Core: 28 Attributes of Successful Executives
  • Super Fly: Avoiding Superficial Evaluation Factors
  • Flew the Coop: Building a Cooperative Culture
  • Part 2: Planning Your Search
  • Chapter 5: Plan Do! Devising a Plan
  • Plan Up: Putting Your Plan Together
  • You SLA Me! Hammering Out the Service-Level Agreement
  • Chapter 6: Team Up: Assembling Your Search Team
  • Who's on Your Executive Search Team?
  • Search Me! Assembling a Solid Search Committee
  • Chair-y Picking: Selecting the Search Chair
  • External Affairs: Choosing an External Recruiter
  • Chapter 7: Dividing to Conquer: Parceling Out Your Process
  • Analyze This: Performing a Needs Analysis
  • What's Up, Doc? Generating the Necessary Documentation
  • Research Engine: Researching the Market
  • Source Code: Sourcing Candidates
  • Recruit Pursuit: Recruiting Candidates
  • The Big Short: Interviewing Your Short List
  • Point of Reference: Checking References
  • Sound Off: Making an Offer
  • All Aboard: Onboarding the New Hire
  • Get Your Kicks: Hosting a Kickoff Meeting
  • Here Comes Trouble: Troubleshooting Your Hiring Project
  • Chapter 8: Don't Be a Tool: Exploring the Tools of the Trade
  • Daily Digest: Our Everyday Tools
  • Recruitment Rock Stars: Following Top Thought Leaders
  • Even More Recruiter Tools
  • Part 3: Doing the Pre-Search Prep Work
  • Chapter 9: Resign of the Times: Reacting to a Resignation
  • Lizard Warning: Getting Control of Your Lizard Brain
  • Next Steps: Key Decisions after a Resignation
  • Chapter 10: Documentation Station: Generating the Necessary Documentation
  • First Things First: Who Is Your Client?
  • Order Up: Writing the Job Order
  • Detail Work: Detailing the Job Description
  • Styling and Profiling: Composing the Position Profile
  • Ad It Up: Writing a Solid Job Ad
  • No Résumé? No Worries! Collecting a Confidential Candidate Brief
  • Guidance System: Creating a Detailed Interview Guide
  • Chapter 11: Research Par?ty: Conducting Candidate Research
  • Hope Is Not a Strategy: The Importance of Candidate Research
  • Texas Hold 'Em or Fantasy Football?
  • Your Step-by-Step Research Guide
  • Chapter 12: What Is This Sourcer-y? Sourcing Candidates
  • Back to the Future: Modern Sourcing
  • Sock It to Ya: Sourcing's One-Two Punch
  • Wooly Boolie: Using Boolean Logic to Simplify Sourcing
  • Sample Size: Conducting a Sample Search
  • Keep It Going: Sourcing on an Ongoing Basis
  • Part 4: Locating and Evaluating Candidates
  • Chapter 13: Recruit Reboot: Recruiting Top Candidates
  • Passive Aggressive: Passive versus Active Candidates
  • A-Listers: Paring Down Your List
  • Bench Press: Benchmarking Your Search
  • Head Case: Headhunting Prospects
  • Chapter 14: Interview Interlude: Interviewing Top Candidates
  • Stage Right: Understanding the Progressive Two-Stage Interview Process
  • Preppy Handbook: Prepping for Each Interview
  • Afterburner: After the Interview
  • Face Time: Conducting the First Face-to-Face Interview
  • Chair Up! Conducting the Search Chair Interview
  • Hire Rise: Handling the Hiring Manager Interview
  • Finishing the Search Committee Interview
  • Present Tense: Carrying Out the Candidate Presentation Interview
  • Candidate as Customer: The Importance of Candidate Experience
  • Chapter 15: Point of Reference: Checking References
  • Identifying the Two Big Questions Reference Checks Will Help You Answer
  • Who Should Do Reference Checks? (Hint: The Hiring Manager)
  • Formulating a Plan
  • Who You Gonna Call?
  • Steering the Conversation
  • Chapter 16: Happily Ever After: Sealing the Deal
  • Pay Up: Calculating Compensation
  • Everything's Negotiable: Negotiating Like a Pro
  • Special Delivery: Delivering the Offer
  • Counter-Intuition: Dealing with Counteroffers
  • Agree to Agree: Composing a Solid Employment Agreement
  • All Aboard! Onboarding
  • Finders Keepers: Retaining Top Talent
  • Part 5: The Part of Tens
  • Chapter 17: Ten Key Principles of Effective Executive Recruiting
  • Remember It's Always a Seller's Market
  • Sell First, Buy Later
  • Be Opportunistic
  • Use a Boutique Search Firm
  • Be the First to Walk Away
  • Build a Farm Team and Draft Only A-Players
  • Seal the Deal with Psychic Cash
  • Leverage Your "Manning Factor"
  • Qualify for Integrity
  • Don't Hire a Liar
  • Chapter 18: Ten Keys to Working Successfully with the Search Committee
  • Identify a Clear Agenda for the Board
  • Agree on a Prioritized Sourcing Strategy
  • Articulate the Organization's Return on Investment for Recruiting
  • Set Realistic Expectations
  • Do a Reality Check
  • Be Consistent with the Messaging
  • Create an Emotional Link
  • Conduct a Discerning Candidate Analysis
  • Negotiate a Successful Offer
  • Let the Search Chair Close the Sale
  • Chapter 19: Ten Reasons to Use a Professional Recruiter
  • Satisfying Stakeholders
  • Easing Your Burden
  • Reducing Opportunity Cost
  • Being Nimble
  • Building Trust
  • Being Discreet
  • Inviting Continuous Improvement
  • Bringing Competitive Intelligence
  • Increasing Retention
  • Getting Your Money's Worth
  • Glossary
  • About the Authors
  • Connect with Dummies
  • End User License Agreement

Chapter 1

3, 2, 1, Blastoff! Getting Started with Executive Recruiting


IN THIS CHAPTER

Defining executive recruiting

Making the business case for executive recruiting

Understanding why top executives are in demand

Tracking the growth of executive recruiting

If you ever studied the American Revolutionary War in history class, you may remember reading about Baron Friedrich Wilhelm von Steuben, a military leader recruited by General George Washington to serve as the drillmaster of the Continental Army. Incredibly, von Steuben managed to turn a ragtag collection of farmers and stable boys into an officer corps that led the Americans to victory.

"Okay," you're thinking. "But what does that have to do with executive recruiting?"

Simple. General Washington's forces faced a well-trained army of British conscripts and Hessian mercenaries. If Washington was to level the playing field, he'd need to recruit a skilled outsider who knew the enemy and what it would take to defeat them - namely, Baron von Steuben. Washington knew he couldn't achieve victory with second-rate people - and neither can you.

In today's hyper-competitive environment, business is war! If you're going to win, only the best executives can lead the charge. Locating and enlisting these executives is what executive recruiting is all about.

What Is Executive Recruiting?


Executive recruiting is the act of locating, evaluating, assessing, and attracting a top-performing executive to an organization or company. Executive recruiting applies when

  • The search for a new executive hire must remain confidential.
  • The search is for an executive who will serve on the board or sit in the C-suite.
  • The skillset needed is rare or in short supply.
  • The annual salary is $150,000 or more.
  • The position is in another country.

Most business decisions are small. A single sale, choice, or interaction doesn't add much value to a company - or damage it much if it goes wrong. Recruiting an executive, however, is a big business decision - one that can add tremendous value or destroy a company altogether.

Recruiting an executive - the right executive - is the single greatest opportunity an organization has to improve both performance and culture in one stroke. The fresh thinking brought by a skilled leader can unleash innovation, empower employees, and generate wealth for the company.

Hiring the wrong executive is another story altogether. A bad hire can mortally wound an organization and cause ripple effects throughout the entire economy.

Recruiting an executive can make or break an organization.

Given its importance, it should come as no surprise that executive recruiting is, well, hard. Indeed, few initiatives are as demanding, disruptive, or strategically challenging as a leadership search. But when it's successful, executive recruiting is the only initiative that can move an organization or group to the next level.

Ace of Case: The Business Case for Executive Recruiting


According to a study by BTS Group and the Economist Intelligence Unit called "Cracking the Code: The Secrets of Successful Strategy Execution," companies with great leaders significantly outperform their peers. Great leadership is also a prerequisite for strong employee engagement. That's a big deal, say David MacLeod and Nita Clarke, authors of a report called "Engaging for Success: Enhancing Performance through Employee Engagement." Here's why:

  • Companies with low engagement scores earn an operating income 32.7 percent lower than companies with more engaged employees.
  • Companies with a highly engaged workforce experience a 19.2 percent growth in operating income over a 12-month period.

A study by the Corporate Leadership Council called "Driving Performance and Retention through Employee Engagement" revealed similar findings - most notably that companies with engaged employees grow profits as much as three times faster than competitors with a nonengaged workforce. And a 2013 report by Gallup, "State of the Global Workplace," finds that engaged workplaces

are engines of job creation around the world. Companies with highly engaged workforces outperform their peers by 147 percent in earnings per share so it should come as no surprise that the companies with the most engaged employees have excellent leadership.

The point here is that hiring the right executives can reap tremendous benefits. And yet, all too often, it's the wrong executive who gets hired. No one knows this better than Kevin Kelly, CEO of one of the world's best-known executive search firms. Kelly's firm studied 20,000 executive searches and discovered, as he informed the Financial Times, that "Forty percent of executives hired at the senior level are pushed out, fail, or quit within 18 months." This, he says, is expensive in terms of both the costs associated with hiring the individual and lost revenue. It's also, says Kelly, "damaging to morale."

Others paint an even darker picture. For example, according to one study by the Corporate Executive Board, 50 percent to 70 percent of executives "fail within the first 18 months of promotion into an executive role, either from within or coming from outside the organization." Of those, the study revealed, "about 3 percent fail spectacularly, while 50 percent quietly struggle."

In a word, "Yikes!"

A Demanding Supply Issue


In the early 1800s, our forebears witnessed the beginning of a colossal economic transformation with the onset of the Industrial Revolution. Within a single generation, old city neighborhoods and rich farmlands were cleared out to make way for the construction of steel mills, rail yards, warehouses, and office buildings. To fuel this economic boom, people migrated from the far reaches of rural America to take on jobs they would hold for the rest of their working lives.

Today, old city neighborhoods and rich farmlands are still cleared to make way for trade and industry. (China and India are prime examples.) But now, businesses exist in a completely different environment than they did during the Industrial Revolution. The tidal wave of economic change, pressure to increase shareholder value by the quarter rather than the year, outsourcing and right-sizing - all these trends have greatly increased the demand for top talent.

Recruiting top executives is hard. And in the years to come, it will only get harder. This is due to three key trends:

  • Demographics: A lower birth rate in North America combined with the aging of the Baby Boomer generation has resulted in a contraction of available executives. In other words, when an older executive retires, few younger workers are qualified to fill his shoes.
  • Brain drain: In the 1980s and 1990s, companies may have saved money by trimming senior management ranks. But that brain drain coupled with attrition robbed them of their ability to grow the next generation of leadership.
  • Globalization: Companies in first-world countries have expanded their market around the globe. At the same time, countries that were once considered third-world nations have become economic powerhouses. As a result, the global need for executive talent has been pushed beyond our capacity to produce it.

Over the last three decades, demographics, attrition, and globalization have profoundly affected the labor supply - particularly for executives. The result: a scarcity of executive talent. This global shortage of leaders drives organizations to aggressively seek the best.

WHERE ARE THE YOUNG UP-AND-COMERS?


We mention that a lower birth rate - at least in North America - has made it difficult to fill the shoes of older outgoing executives. But that's not the only reason. Another cause is that few companies provide young workers with the training they need to advance. In fact, according to a ten-year study of executive performance by a leadership consulting firm called Navalent:

  • Seventy-six percent of respondents indicated that "the formal development processes of their organization were not, or at best minimally, helpful in preparing them for the executive role."
  • Fifty-five percent of respondents indicated that "they had minimal, if any, ongoing coaching and feedback to help them refine their ability to perform in an executive role."
  • Forty-five percent of respondents indicated that "they had minimal understanding of the challenges they would face in an executive role."

Although young executives have begun to assume senior and C-suite roles, according to Navalent, they lack the "experience, knowledge, relational [maturity], and emotional maturity necessary to sustain success."

In this talent-hungry environment, the rules of recruiting have changed. It's no longer enough to passively collect résumés. The people who have the talent you need - who can design a top product, manage complex projects, perform marketing miracles, sell new customers, or lead your organization - are already employed, can take their pick of top opportunities, and will make a career move...

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