Searching for talent is about fixing a problem – that of finding the right person to tackle a business opportunity or challenge. Contrary to popular view, the toughest challenge is not finding the right talent. It is finding great companies to find talent for. This is because the objective is not merely to find talent but to retain it and get the best out of it.
In Executive Search, potential candidates are typically happy and successful in their current roles. In my experience, more than 80% of cases involve international relocation. This brings with it an extra layer of complexity – that of moving house and in the case of children, school.
So what are the markers that ensure the new environment would be such that the person, and their family, would settle in and stay?
Companies need to present a compelling proposition that candidates can relate to and connect with. A company whose sole objective is to make profit with no sense of meaningful purpose or differentiator, have a tougher time attracting the right people. It doesn’t have to be complicated but something that is real and the company is committed to pursuing.
Principles in Practice
Mission statements are great but what happens in reality is what matters. People joining and working in an organisation want to ensure their own personal values will not be compromised. There is no point in brandishing a set of values if the modus operandi and decision-making does not reflect this in reality. The spin and facade might bring them into the organisation, but it will not bring out the best in them and it will not keep them.
The leadership and team already in place impact the quality and calibre of talent a company will be able to attract. High calibre talent looks for environments in which they can grow, excel, contribute and thrive. Leaders needs to have the ability and foresight to bring out the best in people, providing them with the tools and resources to succeed. The team needs to foster collaboration, trust and mutual respect, a cohort of colleagues with different yet complementary capabilities one can resonate with.
High ideals are great but for a company to be successful it needs to deliver. Failure to do so will result in poor financial results and the inability to support its employees. This takes appetite, commitment and follow through. For instance, if the problem to be fixed is the financial well-being of the company where a turnaround is required, the company needs to ensure they have the willingness and ability to bring about the change. There is no point in hiring people if they are hindered from doing what is necessary to deliver.
Fair compensation is key. That said, I would ward off anyone hiring a person whose sole motivation is the financial package. This is for the simple reason that unless the individual is aligned and committed to the mission, there is always the next biggest bidder willing to dangle a bigger carrot. It is important for people to feel they are fairly rewarded for their efforts. Compensation packages need to be fair and look at the person in terms of return on investment and effort. Companies also need to ensure the metrics they are measuring and rewarding are in alignment with the business’s objectives and principles. Avoid conflict that arises from mismatched incentive programmes – this is a sure way to demotivate people and create an atmosphere of resentment.
The process through which you take a potential candidate can make or break your hire. From interviewing to induction, getting bogged down in HR processes is a sure way to turn off top talent.Talented individuals want to get a handle on the business environment, the vision and the task at hand. They are looking for data that will enable them to determine if this is the type of company they are best suited for and if they are fit for the mission at hand. If the role requires a relocation, a broader set of decision criteria will be at play. My counsel would be to identify who else is affected by the move and include them in the process.
Ultimately, companies need to ensure they have the ability to understand a candidate’s capabilities, character, concerns and level of commitment. Only in this way will you ensure you have people on board with the right fit – and cultural fit is essential for people to thrive in and add value to your business.
Deborah drives business as a force for good, building companies that create value, in both financial and social terms.
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inSight - Salty not Sweet
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