There’s no denying to the fact that times have changed when it comes to recruiting. What used to be a decade back isn’t the same today. When a professional with six to seven years of experience looks to make a career change, the situation can turn out to be very different from when they last looked for a job.
The biggest change we can see is in the technology sector. The hiring process, interview, and employer expectations have changed drastically with time. While the improvement of the job market has produced many job opportunities, so did the challenges in processes and priorities in the recruitment for new job seekers have changed.
Not long ago a job posting would draw almost fifty, if not hundreds of responses. But if you look at today’s scenario, it isn’t how it used to be. From what I can tell, the pressure has grown on businesses as well as making sure they have the best talent.
But executive recruiting is totally a different ball game.
What is executive recruiting?
Well, every company needs someone to run the show. How do you do it if you don’t have any top executive running the show? This is where the executive recruiting firms comes in play, the recruitment is done to hire top-level positions like directors, senior managers, chief executive operators, vice presidents etc. At times this level of recruitment is also called C-suite recruiting this is because the high level management generally has titles that begin with “chief” forming like COO, CTO, CEO, CIO, CFO etc.
The impotance of executive recruiting
Finding the ideal executive for your company is very important to the overall success of the firm. When recruiting someone for the top level position you must also keep in mind that the next executive will be making decisions that will shape the future of the company. This is one reason why recruiting the top level management should be approached with priority and highest importance.
The challenges of executive recruiting
There are different levels of challenge that one can face while recruiting an executive:
- Change in leadership - with emerging tech companies and startups we now see that younger employees are moving towards senior level positions. In short, leadership qualities are changing as millennials are moving away from a top-down corporate structure. Now if you’re looking to hire such candidates you will have to acknowledge these changes and hire the right talent.
- Recruitment of passive candidates - there is a fair chance that the top executives are already in good positions and are not looking to make a change. However, they don’t mind being approached if given a better opportunity.
- Level of competition - we all are aware that the employment rate is way lower than we expect, which is why companies are also in a competition of hiring the best talent, especially those at the top executive level.
Here are a few tips that the recruitment management must keep in mind while hiring a top-level executive:
- Offer them more than just a paycheck, it is not always about the money but the opportunities and the professional growth is what will attract senior level candidates to your company.
- You need to listen to their ideas. If you’re expecting a senior level executive to join the company then you must be all ears. Ask them for ideas of how they would like to take the company ahead.
- Be patient and persistent. Remember this is not going to be an easy process. You need to start recruiting as soon as you have a vacancy. Do a quick research with the competitors and check the kind of packages they have to offer.
- Look for cultural fit. For a senior level position, the cultural fit is going to play a major role in how to influence the culture of the organisation. Ensure you hire the right fit for your organisation, else you might face challenges where actions might clash with decision making.
- Set clear expectations. Top senior level executives will have to work closely with the other employees irrespective of the skills and culture fit. High level does bring leverage to the company but they must also run the risk of bringing down the performance of the organisation. Therefore, make sure the expectations are set at a certain level where the understanding is transparent.
- Go an extra mile. Going an extra mile can make or break the hiring process. They probably already have seen it all since they’re high in demand. This is where the approach should be maintained, you can so it by telling them how much the company has invested an committed in hiring them. You need to constantly make them realise how valuable they can be to the company.
- Explore what drives them in their career. After having the first conversation, try to get to know them better. It is very important to know what drives people towards their goal. Some are motivated by money, some by impact and some desire to lead the company.
With the emergence of technologies, change in business partnerships, and global competition, the hiring process of executive gets more complex. Ensure you have the best strategies in getting them hired.