Hiring an Executive - make sure you get it right!
Responsible for strategy, growth and the ongoing development of a division or business, your senior management team are an invaluable resource, so making sure you appoint the right individuals to these roles is essential. The incumbent needs to fit from a professional perspective in terms of skills, motivation, drive and ability however it is also critical that they fit with the company culturally.
Appointing a Senior Manager/Executive needs a different approach, these individuals will be highly valued within their current business and whilst they may be open to considering an opportunity that takes their career to the next level, they will only make a move for the right opportunity and the right offer; the right offer will often need to include profit share or equity as part of the incentive package as they will be driven to achieve business growth.
“Responsible for strategy, growth and the ongoing development of a division or business, your senior management team are an invaluable resource, so making sure you appoint the right individuals to these roles is essential. The incumbent needs to fit from a professional perspective in terms of skills, motivation, drive and ability however it is also critical that they fit with the company culturally.“
Often financial compensation is not the biggest motivator however, career progression, a product they are passionate about and a new challenge are the key drivers. Strong managers are really important to business success and good ones can be few and far between; they will be highly regarded within their existing business and their company won’t let them go without a fight! So it is essential that your business stands out from the crowd with an attractive proposition to entice them.
With this in mind I have compiled some points that, in my experience, are important to remember when looking to appoint a Manager or Executive to your business:
1. You need to sell yourself to the candidate, it’s a two way process! Strong, highly regarded Managers will be approached regularly and won’t move jobs on a whim. You need to present your business well, tell them your story and your long term strategy in order to make your proposition an attractive one. This is why it is important to build an effective company brand, make your business stand out from the crowd.
2. These individuals are ambitious, motivated and driven, you need to make sure that your company culture embraces these attributes. Make sure that the individual you appoint has personal drivers that align with your business values and that you convey these drivers in your corporate message from the outset of the recruitment process, to ensure you attract the right person for your business.
3. Make sure you involve other employees within the business. Appointing someone in a senior role can be unsettling for existing employees - maybe those who were hoping for a promotion or others who may be unsure about the impact this individual will have on the company culture, or worse still, will this person affect their job security. You don’t want one positive appointment to cause other members of staff distress or worse still to make others consider leaving!
4. Your senior management team can have a hugely positive impact on your overall business performance. They are brought into the business to help its growth and it is important to remember what a significant role they can play when considering who you will hire.
5. Don’t assume these individuals are only considering your offer, they are probably being pursued by other organisations. Make sure you understand their deepest motivations and ensure you are demonstrating how you can help them achieve these.
Getting senior recruitment right and building a strong senior management team can be the difference that makes your business a world class business!