The Critical Steps That Enable A Smooth Executive Search

By Nicole Leckband
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The Critical Steps That Enable A Smooth Executive Search

 

09/26/23

 

Hiring the right talent for your organization can be a challenging and time-consuming task, especially in a competitive and dynamic market. That’s why you need a seasoned executive recruiter who can help you find and attract the best diverse candidates for your organization. Your recruiter can’t do it alone… Organizations have a crucial role to play in making the hiring process faster and more effective. 

Here are some ways your organization can help:

Communicate your needs and expectations clearly. The first step to a successful hiring process is to have a clear and detailed job description that outlines the responsibilities, requirements, and benefits of the position. This is something that Diversity Recruiters™ can help you complete. You should communicate your hiring goals, timeline, and budget to your assigned executive recruiter, so they can align their strategy and actions accordingly. Be honest and realistic about what you are looking for and what you can offer to the candidates.

Provide timely and constructive feedback. Your recruiter will send you a shortlist of qualified candidates that match your criteria. You should review their resumes and profiles as soon as possible and provide your feedback to your recruiter. Let them know which candidates you are interested in, which ones you want to reject, and why. This will help your recruiter refine their search and focus on the most promising candidates. It will also show respect and appreciation to the candidates and keep them engaged in the process.

Be flexible and open-minded. Sometimes, you may not find the perfect candidate that meets all your expectations. Instead of holding out for a unicorn, you should be willing to compromise and consider candidates who have the potential to grow and learn on the job. You should also be open to candidates from different backgrounds, perspectives, and experiences, who can bring diversity and innovation to your organization. Don’t let your biases or assumptions limit your hiring options. Again, our expertise is specifically aligned in helping our clients in this area.

Offer competitive and fair compensation. One of the main reasons why candidates reject or accept a job offer is the salary and benefits package. If you want to attract and retain the best talent, you need to offer them a competitive and fair compensation that reflects their skills, experience, and value. You should also be transparent and consistent about your compensation policy and process, and avoid lowballing or negotiating too hard with the candidates. This will help you build trust and rapport with the candidates and make them more likely to accept your offer.

Streamline your interview and decision process. The interview and decision process is the most critical and time-consuming part of the hiring process. You should aim to make it as efficient and effective as possible, by following these tips:

    (1)  Plan and prepare your interview questions and format in advance, and make sure they are relevant, consistent, and unbiased.

    (2)  Involve only the necessary stakeholders and decision-makers in the interview process, and avoid having too many rounds or panels of interviews.

    (3) Schedule and conduct the interviews as soon as possible, and avoid rescheduling or canceling them at the last minute.

    (4) Make your hiring decision quickly, and communicate it to the candidates and the recruiter promptly.

    (5) Provide constructive and respectful feedback to the candidates who were not selected, and thank them for their time and interest.
 
By following these tips, you can help your recruiter hire faster and better, and secure the best talent for your organization. Remember, your recruiter is your partner in the hiring process, and you need to work together to achieve your hiring goals.
 

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Harnessing the Power of Diversity

Harnessing the Power of Diversity: Executive Recruiting Done Right

Diversity is a critical aspect of any modern organization. A diverse team can bring a range of perspectives, ideas, and experiences that can help drive innovation, creativity, and ultimately, success. However, achieving diversity can be challenging, especially when it comes to executive recruiting.

Executive recruiting is an essential process that can help organizations find the right leaders to steer their businesses towards success. However, traditional recruiting methods often lead to homogeneity in leadership teams, limiting the potential benefits of diversity. Here are some ways to harness the power of diversity in executive recruiting:

1. Define Diversity Goals: The first step towards achieving diversity in executive recruiting is to define diversity goals. Organizations should set clear objectives that outline the types of diversity they want to achieve, such as gender, race, ethnicity, age, and cultural background. These goals should be communicated to the recruiting team and be an essential consideration when assessing potential candidates.

2. Expand Your Network: Expanding your network is a crucial step towards achieving diversity in executive recruiting. Organizations can reach out to diverse communities, attend industry events and conferences, and build relationships with diverse professional organizations to expand their pool of potential candidates.

3. Reconsider Qualifications: Organizations must rethink their traditional qualifications when assessing potential candidates to achieve diversity in leadership teams. They should consider non-traditional backgrounds, experiences, and skillsets that can bring unique perspectives and ideas. Focusing on qualifications that only cater to a specific demographic can lead to homogeneity in the team.

4. Eliminate Bias: Unconscious bias can be a significant roadblock to achieving diversity in executive recruiting. Organizations should evaluate their recruitment processes and eliminate any unconscious biases that may exist. They can do this by implementing blind resume screening and avoiding questions that may lead to bias.

5. Diversify Your Recruiting Team: Diversifying the recruiting team can help ensure that the organization is considering a range of candidates from diverse backgrounds. Including individuals from diverse backgrounds in the recruiting team can bring new perspectives and ideas that can help identify the best candidates.

In conclusion, achieving diversity in executive recruiting is critical for any organization looking to achieve long-term success. By setting clear goals, expanding networks, rethinking qualifications, eliminating bias, and diversifying the recruiting team, organizations can harness the power of diversity and build strong, diverse leadership teams that can drive innovation and success.

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Measuring Diversity

Measuring Diversity: The Metrics That Matter

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McKinsey & Company’s 2018 “Delivering through Diversity” report stated companies in the top quartile for ethnic/cultural diversity on executive teams were 33 percent more likely to have industry-leading profitability. Additionally, companies in the top quartile for gender diversity on executive teams were 21 percent more likely to outperform on profitability and 27% more likely to have superior value creation. These facts are proof that efforts to elevate your D&I initiatives can have a bottom-line impact on your organization.

 

Moreover, research has proven that, without inclusion, diversity is unsustainable.

 

Additionally, the idea of “belonging” is becoming increasingly important to a strong D&I strategy. Belonging is the sense that all employees can be their authentic selves, and as such, are essential to their team’s success. However, to continue effectively driving your D&I initiatives in the right direction, you need to know what is working and how well.

 

The metrics that measure the success of any people initiative are the same for D&I. Performance indicators, especially financial performance (specifically profit margin), should be paired with softer metrics for a complete picture. Correlate financial performance with measurements of employee engagement, employee retention, talent attraction, customer orientation, employee satisfaction and employee participation in decision-making.

 

In addition to these, there are a couple of specific initiatives you should implement to focus on measuring D&I:

 

Diversity Reports:

 

From a broad view, your company may appear to be diverse, but consider segmenting the company several ways to ensure it is representative of all levels and functions. Completing a quarterly or biannual report that shows the following (compiled from Project Include) will lend insight into your initiatives’ success:

 

  1. Employees overall, by function, seniority and tenure (cut by demographics)
  2. Employment status (i.e., full-time, part-time, contractor) (cut by demographics)
  3. Management and leadership (cut by demographics)
  4. Salary (cut by demographics) – Raises and bonuses (cut by demographics)
  5. Board of directors (cut by demographics)
  6. Candidate pools and hiring funnels, by role (cut by demographics)
  7. Voluntary and involuntary attrition rates (cut by demographics)
  8. Promotion rates (cut by demographics)
  9. Formal and informal complaints (cut by demographics) – Complaint resolution status (cut by demographics)

 

As an executive placement firm specializing in workplace diversity, we ensure that our clients have a keen understanding of what it will take to create the best culture to create a sense of belonging for all cultures. We aren’t just an executive headhunter. We are committed to being the best D&I search partner that we can be. Give us a call if you’re interested in finding out more.