Introduction
What was the last time you brought on a senior executive only to see them go through the motions and depart your company within a year or after?
Finding the right person to fill executive positions isn’t a simple task. When you’re looking for and recruiting the best talent for your niche positions, it is more important to ensure that you hire the right candidate who will play an integral role in determining the direction and direction of your company.
Imagine the cost to your company if they decide to leave – nearly 23% of their annual salary. To ensure that you’re hiring just the best candidates, but you’re doing it carefully when hiring for executive positions, take a look at our five tips in the following article! more info here to top headhunters in dubai.
Make a market map before recruiting.
The hiring process for senior executive positions may differ compared to other roles within your company, and there’s a good chance that some of the senior executives you’re in contact with are targeted by your competitors.
Therefore, it’s imperative to have a hiring and market plan in place before putting time and funds into hiring for these positions.
Market mapping is the process of creating an outline or map, in the case of a map, that helps your business understand the current environment of your market in regards to both your competition as well as the demand for and supply of candidates.
Utilizing a market map, the hiring team will be able to go deeper into the data and facts about hiring availability, future business requirements, and opportunities for recruiting.
Market mapping is helpful in more ways than simply understanding the things you’ll need to present to an executive of a high rank to impress them.
For instance, before your team contacts potential candidates or actively seeks potential candidates for an open job, they’ll have to address questions such as:
- Do we require a knowledgeable candidate with previous experience in scaling growing businesses?
- What experience level do executives require for success?
- Do we have any employees within the company who might be a good fit for this open executive position?
- What issue or challenge can this executive senior to us solve?
- What number of people will this position supervise, and at what levels of responsibility for hiring will they be able to assume?
Remember that when hiring for executive positions in the senior ranks, it is essential to align everyone involved in your hiring process with the “why” and “what’ of the position. It applies to hiring from within.
Define the leader role(s) you’re looking to hire for.
The process of sourcing and recruiting and finally conducting an interview with a candidate to be considered for a position as a senior executive is an aspect, but delineating the role is different. Indeed, you can’t make a hiring decision for this kind of job without knowing the specifics of what you’re hiring.
Top headhunters in Dubai connect to your marketing and recruitment strategy. However, when you define the role, you’re asking specific questions regarding the position, how it will be used within your company, and what long-term goals you’re aiming for with the job.
If you are aware of this, you could delineate the role of a leader into three factors:
External and internal issues
In the wake of a pandemic, changes in conditions in the market, changing political landscapes, and so on, a myriad of external and internal challenges make it necessary for your business to recruit leaders who can assist in the management of change.
Short versus long-term goals
What objectives does your business have that a new leader or executive could assist you in achieving? For one business, it may be the case for a first round. For another company, it could mean expanding into other areas or pivoting through developing the first product in the vertical market.
Stages of Organization
Many companies experience expansion at different phases, with some quarters witness growth in a staggered manner while other quarters tend to focus on consolidation. If you’re expanding, it is essential to have growth-oriented and experienced executives.
On the other hand, other businesses may need someone to help create the foundations for their business. Which is your next top executive position lie?
Of course, many other elements will affect how you define a senior executive’s role. Knowing the job’s purpose to help your business grow can help you find the best top executives.
Talent Pipeline Strategy
A talent pipeline can give your business access to a steady supply of skilled talent that you could employ in the future, whether as replacements for employees who have left the company or when new opportunities and roles are created.
The talent pipeline is a collection of candidates you have evaluated in the past or have spoken to your company before. If you keep this pipeline packed with talented candidates, Your recruiting team will be able to make better (and quicker) hire decisions.
A strategy for a talent pipeline is the methods the hiring team employs to develop a pool of qualified candidates for your current and future positions. It’s the procedure your team uses to find, attract, retain, and hire talent to ensure you’re stocked with candidates in your database.
When you’re hiring for executive positions, It is crucial to ensure that your strategy for the talent pipeline takes into account the following aspects:
- The information that your hiring team relies on to recruit for executive positions. Your team can use the data from HR and recruiting to identify the gaps that must be filled when recruiting for executive positions at the top of the pyramid and look for opportunities to broaden the variety of your executive management.
- How do you nurture relationships with applicants–Do you keep in contact with former applicants? Do recruiters concentrate on building their networks? Do you make use of referrals? Do you inform the past applicants aware of new opportunities?
Think about hiring internally using internal mobility
Internal mobility is the mobility among employees inside an organization. Internal mobility strategies take this one step further by implementing a procedure or framework to move existing employees between roles both vertically and laterally.
For executive positions at the Internal top, mobility can assist the team in hiring to fill a position and vacancies. Because churn rates are high for roles in the senior ranks and the impact that the Great Resignation affected recruiting, it is crucial to maximizing your current talent.
The internal hiring process effectively allows employees to improve their skills while bringing the knowledge they have gained about the company to their job.
If an employee quits an organization, it’s not only expensive to replace them, but also their expertise and knowledge about your business as well. If an executive is fired from the company, the loss could be tenfold, mainly when they were the manager of a vast team.
When hiring to replace a terminated employee comes with its own cost for the employee, overlooking the potential of employees already employed to fill the roles could be costly as they depart in favor of a company that will elevate them. Data suggests an average of 41% of employees seek a shift in their role by 2022.
That’s why leveraging an internal mobility plan to recruit internally can benefit your company and the employees it already has.
Conclusion
You’re looking to recruit the most qualified candidates for your executive positions. However, how efficiently can your interview process help you get those recruitment outcomes?
The structured interview has been proven to be more reliable and efficient than traditional hiring, in which discussions aren’t structured. The key to structured interviewing is putting in place an approach to standardize how you conduct your interviews, creating more fair and efficient hiring.
However, hiring managers must be cautious not to place employees already in the executive role based on their cultural compatibility. It can lead to an absence of diversity while restricting the diversity of thought.
