Expanding Your Company With Executive Talent
The growth and success of your company is not merely based off of quality products and a correct marketing technique. Rather effective internal management and professional experience are paramount to continued operational improvement. Therefore, you may find that the time has come to recruit executive talent in order to drive your operations further. However, this process involves much more than placing an employment advertisement in an online job portal or by word-of-mouth. So, let us briefly examine some of the top tips that can provide your business with the quality and professionalism that is necessary in today’s competitive environment.
What Does Your Company Need?
This question is not as simple as it may sound. Hiring an executive can not only prove to be quite costly, but should the executive feel that his or her talents do not match the company’s vision, a great deal of time and money can be wasted. Therefore, it is first important for you to gauge the short and long-term goals of the business. Do these goal centre around a reworking of a long-term marketing strategy, are they more concerned with streamlining internal sales pipelines or instead is a global expansion required? By identifying these and other targets, it is much easier to effectively engage with the most relevant candidate pool.
Salary is King
While this statement may sound a bit utilitarian, it is nonetheless true. Now more than ever, executives are well-aware of what their peers are earning. Thus, a level of financial enticement is necessary for those that prove themselves qualified for a certain position. Although ordinary employees may be content with the current market rate, executive salaries will need to meet and often times exceed the industry standard. Thus, packages need to not only include a competitive salary with room for upward mobility but also an understanding of what the executive feels that he or she deserves to earn based off of experience.
The More Information, the Better
As opposed to entry-level employees, executives tend to know exactly what they are looking for. Therefore, advertising this type of position needs to be as detailed as possible. Furthermore, the “other side of the coin” refers to the candidates themselves. Will they fit into the current company atmosphere? Do their track records match what the job duty entails? Perhaps most importantly, do they provide quality references that can vouch for their expertise in a given field? These are just a few of the questions that need to be addressed before beginning the formal interview process.
These three factors will play a critical role in helping your company locate the most relevant executive for the role required. Not only will the company benefit from such recruitment, a correctly hired executive will most likely remain loyal and become an integral part of your successful business.
Georgina Stamp has helped in the recruitment of interim management jobs for a number of years and has aided various international and local organisations. She currently works for Marble Hill Partners, who help with executive searching.
This was posted in Bdaily's Members' News section by Georgina Stamp .
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