What investment is needed in executive search to reap your sought ROI?

If you have established a Purpose, a Vision and a set of Values to provide clarity on where you are taking your business, then you next need to develop a winning team to deliver it. Sounds easy?

Whether or not the roles you need to recruit are new or replacement, the investment you make into aligning the positions with your Purpose, Vision and Values is absolutely key to the success you will enjoy, or not! I don’t mean the money you put into the recruitment process nor the remuneration package you decide to offer. Instead, by investment I mean the reflection time you put aside to really think about what type of person and the experience you need to integrate successfully into your culture and ultimately deliver the objectives you have established for the role.

It is too easy to focus on other priorities in your business and just give recruitment a go. But it is a dangerous game and could cost you dearly. I am a real believer that you reap what you sow and preparation really will prevent poor performance or, in this case, an outcome.

When supporting our clients at the outset of an Executive Search project, Collingwood’s Consultants divide the investment of time into 4 key areas;

  •   Employer Brand
  •   Job Description
  •   Candidate Profile
  •   Remuneration Package

1. Employer Brand

Recruitment is a competitive market place, the economy is growing and high calibre talent are again focused on achieving their career ambitions. They are in demand and there is an exciting landscape of organisations with fantastic employer brands waiting to entice them.

What do I mean by Employer Brand? Candidates need to hear your story. They need to understand what makes your business tick, your culture, what it is like to work there. They need to understand the Vision you have for your business, what the journey will involve and how can they help you achieve success. Very few only want a job to go to these days and more and more really want to buy into a company Vision.

I met a renowned SME food manufacturer last month and asked the Managing Director what the Vision for the company is. He stumbled before replying that they want to sell more of their products through food service. This really isn’t a vision and is very unlikely to woo any high calibre talent. Do you think this Vision would entice the very best talent currently employed by his competitors?

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2. Job Description

Can be viewed as a mundane piece of work but a detailed Job Description provides value both internally and to ensure potential candidates really understand what will be expected of them. Internally it should be a document you can use as part of the Performance Appraisal process and so objectivity is key. Externally it allows candidates to understand what the role entails, whether they have the skills and experience to succeed and indeed whether it meets their career plan.

 3. Candidate Profile

This is the most critical piece of information for an Executive Search Consultant. In addition to qualifications and the experience you need to achieve your Vision, the Candidate Profile needs to focus specifically on the behaviours you want to secure. What type of Leader do you need, an autocrat, empowering and inspirational, an introvert or an extrovert? Do you want a process led perfectionist or an entrepreneurial genius? The popularity of behaviourally led recruitment is growing fast and evidence suggests that recruiting the right behaviours and character generates more business success than focusing on the experience someone can bring to your organisation. As the Managing Director of Collingwood, we recruit against behaviours and have reaped the rewards from this change of approach during the last 12 months.

4. Remuneration Package

It is important that you put some thought into how you can make a remuneration package work for both your business but also the person you want to welcome. Remuneration has gone way beyond a basic salary, company car and bonus and so I would highly recommend that you research the weird and wonderful ideas that exist today. Bonus schemes aligned to team work and values instead of sales and profitability. Flexible benefits where you can buy extra holiday, enjoy flexible working or take a sabbatical are all fairly common offerings in 2016.

All in all the time you invest in these 4 key considerations will focus your recruitment process, ensure you appoint the right person and ultimately create a winning team that will deliver your Vision.

Here at Collingwood, we understand the importance of getting these key elements right and are continually measuring the effectiveness of our own recruitment processes. Find out more by getting in touch today. 

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