Recruiting for Top Executive Talent in Today’s Economic Environment

June 10, 2014

Companies may find that hiring executives in today’s economy is more difficult based on a lower labor participation rate combined with low unemployment. The factors support the contention that companies must increase their scope of networking techniques and further concentrate on determining the talent level of those candidates who apply. Although not difficult to identify the unemployed, the true skill is in determining if candidates are a fatality of downsizing efforts or if there are serious performance difficulties.

Assessments are beneficial to determine a candidate’s ability to learn, personality, behavior style, cultural fit and leadership ability. These assessments are readily available in the marketplace and will aid in selecting the candidate that meets the company’s position requirements and have the appropriate personality and behavioral traits. Companies that use assessments in their hiring process find their use enhances a successful hiring decision. Assessments that are validated and reliable are highly predictable especially when used over an extended period of time where executives have gained confidence in their use. Assessments should be weighted approximately one third of the hiring decision along with experience & background, interview results, and references. If there is more than one indicator that a candidate may be a weak fit, it is best to move on to other candidate and continue the hiring process.

Once an executive is identified, an Onboarding Plan should be developed which includes key contacts for the position, major strategic initiatives for the first month, quarter and year, and individual factors key to the executive’s success. This Plan should be written and followed during the first year and will enhance the success of a good beginning for the new executive.

Contributed by Sandy Rich, MLIR, President, Hiring Solutions LLC

View the on-demand webinar “How to Recruit Top Executive Talent” with Sandy Rich.