Do your Recruiters Meet your Expectations?
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Do your Recruiters Meet your Expectations?

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Are your internal recruiters performing to executive management expectations? Do your external contingency recruiters fail to perform on a consistent basis? Time to redefine your recruitment and ...

Are your internal recruiters performing to executive management expectations? Do your external contingency recruiters fail to perform on a consistent basis? Time to redefine your recruitment and staffing process.

Utilizing a Performance Based Search recruitment methodology results in streamlining the search process, reducing cost, and exceeding executives expectations. .
Stop posting to job boards that give you “C Players”. Start recruiting top talent “A Players” who are game changers, IP builders, revenue rainmakers, and strategic leaders.
Rather than working off of “typical job descriptions”, determine the Performance Objectives of the role. Discover what a candidate needs to do to be successful (goals) and what a candidate DOES with his/her skills, experiences, and abilities rather than the HAVING of these.

Executive Search using a proprietary Performance Based process in providing national and international retained and engagement search recruitment services. Using our proprietary Performance Based Recruiting Process, NextGen Global Executive Search consistently recruits “A Players” for our clients. Simply put, we succeed where other search firms simply fail to meet your expectations.

As a client-focused boutique retained executive search firm, we meet with our clients and communicate early and often to thoroughly understand your strategy, vision, mission, and culture. Our executive search recruiting process is based on identifying candidates who can meet the Performance Objectives and are a Natural Fit for the role.

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Do your Recruiters Meet your Expectations? Do your Recruiters Meet your Expectations? Presentation Transcript

  • A White Paper fromNextGen GlobalExecutive Search©2012 NextGen Global Executive Search LLP 1Do your Internal & External Recruiters Measure Up?
  • Introduction ∞Chapter 1: Why Many Executives and New Employee Hires Fail ∞Chapter 2: What the Studies in Poor Performance in New Hires Reveal ∞Chapter 3: Bad Interviews are a Result of Poor Recruiting Processes ∞Chapter 4: The Top Areas of Failure with Percentage of Respondents ∞Chapter 5: Why Technical Competence as the Primary Identifier is so Bad ∞Chapter 6: Why 50% of ALL New Hires are Either Bad Hires or Miss-hires ∞Chapter 7: Defining Performance Objectives over Job Descriptions ∞Chapter 8: Why Retained Search is Actually Cost-Effective ∞Chapter 9: Conducting “behind-the-scenes” Industry Reference Checks ∞Chapter 10: Going a Step Further before Short-Listing Candidates ∞Chapter 11: High Impact Onboarding - Longer Retention Rates ∞Chapter 12: Conclusions ∞Chapter 13: Contact Information ∞Table of Contents©2012 NextGen Global Executive Search LLP 2Do your Internal & External Recruiters Measure Up?
  • The facts about recruiting “high impact A Players” and avoiding failure ratescannot be denied. Unfortunately, too many organizations fail to take thesefacts into serious consideration. Retention of key talent and effective recruitingare significant and difficult problems for most companies.©2012 NextGen Global Executive Search LLP 3IntroductionDo your Internal & External Recruiters Measure Up?
  • A study of executive failure pegged the average failure rate for recruited executives intheir first year at between 40% and 50%. (Executive Search Information Exchange 2001)On average, the cost of a failed executive is estimated to be more than $500,000 or 2.5times salary. And that does NOT include organizational, opportunity, productivity, andtransitional costs for the new executive. (Mercer Management 1999)The cost of a bad hire ranged from one to five times annual salary. 26% of respondentsreported that replacing an employee that doesn’t work out cost their organizations threetimes annual salary and another 42% said bad hires cost two times annual salary. (RightManagement 2008)75% of newly hired executives are having trouble with interpersonal skills (the ability tobuild relationships, collaborate, and influence others). A troubling finding of the study isthat many of these executives had both strong technical skills and years of previousmanagement experience and yet they fell short in the interpersonal area. (AmericanSociety for Training & Development 2011)46% of newly-hired employees will fail within 18 months, while only 19% will achieveunequivocal success. But contrary to popular belief, technical skills are not the primaryreason why new hires fail; instead, poor interpersonal skills dominate the list. (LeadershipIQ 2009) ©2012 NextGen Global Executive Search LLP 41: Why Many Executives and New Employee Hires FailDo your Internal & External Recruiters Measure Up?
  • The study found that 26% of new hires fail because they can’t accept feedback,23% because they’re unable to understand and manage emotions, 17% becausethey lack the necessary motivation to excel, 15% because they have the wrongtemperament for the job, and only 11% because they lack the necessarytechnical skills.The three-year study by LeadershipIQ compiled these results afterstudying 5,247 hiring managersfrom 312 public, private, businessand healthcare organizations.Collectively these managers hiredmore than 20,000 employees duringthe study period.©2012 NextGen Global Executive Search LLP 52: What the Studies in Poor Performance in New Hires RevealDo your Internal & External Recruiters Measure Up?
  • While the failure rate for new hires is distressing, it should not be surprising:82% of managers reported that in hindsight, their interview process with theseemployees elicited subtle clues that they would be headed for trouble.But during the interviews, managers were too focused on other issues, toopressed for time, or lacked confidence in their interviewing abilities to heed thewarning signs.©2012 NextGen Global Executive Search LLP 6Before we blame the HiringManager – remember therecruiter set all this in place – ANDthat is where the FAILURE startedin the recruiting processes.3: Bad Interviews are a Result of Poor Recruiting ProcessesDo your Internal & External Recruiters Measure Up?Wait a minute!
  • Coachability (26%): The ability to accept and implement feedback frombosses, colleagues, customers and others.Emotional Intelligence (23%): The ability to understand and manage one’sown emotions, and accurately assess others’ emotions.Motivation (17%): A sufficient drive to achieve one’s full potential and excelin the job.Temperament (15%): Attitude and personality suited to the particular joband work environment.Technical Competence (11%): Functional or technical skills required to do thejob.Study from Leadership IQ 2009©2012 NextGen Global Executive Search LLP 74: The Top Areas of Failure with Percentage of RespondentsDo your Internal & External Recruiters Measure Up?
  • Highly perceptive and psychologically-savvy interviewers can assess employees’likely performance on all of these issues. But the majority of recruiters andhiring managers lack both the training to accurately read and assesscandidates, and the confidence to act even when their assessments are correct.Unfortunately, technical competence remains the most popular subject ofinterviews because it’s easy to assess. But technical competence is a lousypredictor of whether a newly-hired employee will succeed or fail.In addition, Human Resourcesfocuses on one-size-fits-allbehavioral tests which may revealgeneral aptitudes but fails tomeasure and predict performancefor the actual role and fit into thedepartment/organization.©2012 NextGen Global Executive Search LLP 8Do your Internal & External Recruiters Measure Up?5: Why Technical Competence as the Primary Identifier is so Bad
  • The financial cost of hiring failures, coupled with the opportunity cost of nothiring high performers, can be millions of dollars lost, even for small companies.This is due to a combination of poor internal recruiting process, the use of poorlydefined job descriptions that ignore the specific business need to solving eitherthe unique technical challenges or defining in detail the corporate objectives,plus most executives are simply too busy to perform an intensive interviewing,screening, behavioral and intangible assessment throughout the entire TalentAcquisition life cycle.It is true that 50% of ALL hires areeither bad hires or miss-hires.And that is especially true in“customer facing” roles.©2012 NextGen Global Executive Search LLP 9Do your Internal & External Recruiters Measure Up?6: Why 50% of ALL New Hires are Either Bad Hires or Miss-hires
  • Are your recruiters stillworking on “HR or legal-defined” job descriptions?Do they have the expertiseto use SMARTE to definethe “PerformanceObjectives” of the rolethey are recruiting for?©2012 NextGen Global Executive Search LLP 107: Defining Performance Objectives over Job DescriptionsDo your Internal & External Recruiters Measure Up?
  • 2 Education/ExperiencePersonal/ProfessionalBackground44 Personal/ProfessionalBackground413 Adaptability5 Corporate Culture &Company Lifecycle6 AccomplishmentsSkills/IntelligenceDo your Recruiters define All of the Tangible Skills & Experiences Required?©2012 NextGen Global Executive Search LLP 11Do your Internal & External Recruiters Measure Up?
  • Why does the position exist,or if replacement, why?What aptitudes andleadership qualities aremission critical?What accomplishments andexternal/internal motivationsare non-negotiable?Conversely, which are notneeded?Asking the RIGHT Questions Determines the Role’s KPIsBenchmarkKeyPerformanceIndicatorsDetermine thecritical goals andmajor businesssuccesses thecandidate will beaccountable forproducing.©2012 NextGen Global Executive Search LLP 12Do your Internal & External Recruiters Measure Up?
  • thought processing, reasoning, and persistence traitsmotivational factors andproblem solving styleconflict resolution skillsplanning and organizationalskillsexecution and projectmanagement techniquesleadership qualities andrelationship building skillsIdentify KeyIntangible Traits ofthe Ideal CandidateDo your recruiters lookBEYOND skills, experience,education, andaccomplishments?©2012 NextGen Global Executive Search LLP 13Do your Internal & External Recruiters Measure Up?
  • When it comes to Key Positions, why risk your stakeholders’ investments onpoor internal recruiting processes, poor screening by contingency basedsearch firms, or job postings? Why hire a B or C Player?Why choosing a retained search firm actually SAVES you money in the long run.The really good ones use Performance Based Fees in which the majority of thefees are paid on meeting measured deliverables. They should also have bespeedy, transparent, and in the end resulting in new hires that positively impactyour bottom line.©2012 NextGen Global Executive Search LLP 14Do your Internal & External Recruiters Measure Up?8: Why Retained Search is Actually Cost-Effective
  • Work with the Hiring Manager to develop real-timehypothetical reasoning and situational scenariobehavioral interviewing questions and mini-projectsfor potential candidates to reveal if they have themotivations, aptitudes, leadership, learning abilityand intelligence, accomplishments, persistence, andadaptability to fit the specific role and move yourstrategy forward.What? Our recruiters NEVER thought about this?©2012 NextGen Global Executive SearchLLP15Do your Internal & External Recruiters Measure Up?10: Going a Step Further before Short-Listing Candidates
  • How silly that anyone actually believes references provided by a candidate arenot skewed - meaning useless!Your recruiters should confidentially cold call former customers, colleagues, andvendors that the candidates have worked with; these reveal the best unscriptedreferences possible.How silly that anyone actually believes references provided by a candidate arenot skewed - meaning useless!Your recruiters should confidentially cold call former customers, colleagues, andvendors that the candidates have worked with; these reveal the best unscriptedreferences possible.©2012 NextGen Global Executive Search LLP 16Do your Internal & External Recruiters Measure Up?9: Conducting “behind-the-scenes” Industry Reference Checks
  • How about Onboarding?A performance evaluation tool isnot near enough. Before that acustomized onboarding programSPECIFIC to that role/position ANDthe performance objectives of therole needs to be put into place.Performance, Growth, and Retention are KeyMany HR department uses a “one-size-fits-all” approach to ongoingevaluations. The problem here is your internal and external recruiters shouldbe CUSTOMIZING a Performance Evaluation Tool to measure the new hire’sprogress for THAT PARTICULAR position.©2012 NextGen Global Executive Search LLP 17Do your Internal & External Recruiters Measure Up?11: High Impact Onboarding - Longer Retention Rates
  • You should customize the onboarding process for each new hire withintentional activities spread out over several months (phases) to assist in thenew executive or leader’s assimilation into the culture/department, measureperformance, and initiate the growth potential.The retained search firm you choose should include a full one yearreplacement warranty to ensure the placements meetperformance objectives sooner and are retained longer.©2012 NextGen Global Executive Search LLP 18Do your Internal & External Recruiters Measure Up?
  • Does your onboarding program FOR THAT NEW HIRE instill confidence inyou AND the new executive or leader that the transition process into yourculture, department, and leadership development is sound?Does it ensure a new leader will be effective in a short time?Does your onboarding program FOR THIS HIRE improve the averageretention time of your leaders and executives?Is it gaining you a competitive recruiting edge for leadership talent?Does it maximize the chances that the new leader will be engaged quicklywith the company’s culture, the department’s people, and the executiveteam?Is your Executive Onboarding and for that matterEmployee Onboarding World Class?If it does NOT do ALL of the following, either you aremissing a key component in recruiting or your existinginternal recruiters and 3rd party executive search firms arenot meeting YOUR RECRUITING OBJECTIVES.©2012 NextGen Global Executive Search LLP 19Do your Internal & External Recruiters Measure Up?
  • ©2012 NextGen Global Executive SearchLLP20Phase Objective TimingAffirmation Ensure the new leader or executiveconstantly believes he/she made the rightdecision.Begins no later than the Offer Letter andcontinues through Day 90.Welcome Communicate a highly-personalizedmessage of acceptance and attention.Begins with the Acceptance Letter andcontinues through Day 30.Foundation Transfer company, department, and role-specific knowledge, skills, and attitudes foraccelerated competency.Day of Acceptance Letter through Day 60.Assimilation Immerse new leaders in the companyculture and help them be proud of it.Most important phase: Acceptance throughDay 120 (3 months).Contribution Within a predetermined number of days orweeks, begin to see real productivity fromthe new hire and provide a positiveDay 15 through Day 120 and beyond.Is your Talent Sustainability strategy based on Customized High Impact Onboarding with aSchedule for Every Stakeholder to be Involved or Driven and Run Mostly by HR?Do your Internal & External Recruiters Measure Up?
  • How can NextGen Global Retained Executive Search help?Have an executive position or key staffing need you need to fill? NextGen canfill that search assignment using our proprietary Performance Based RetainedSearch process.Our placements are backed up by the best warranty in the retained searchbusiness – a one year replacement.We strictly recruit “A Players” who produce 8 to 10 times more than even “BPlayers”. Bear in mind that studies show that up to 55% of all workforces are“C Players” (bodies who show up and do minimal tasks).Each placement we make includes a customized Renewal™ World ClassOnboarding program. This assures the candidate assimilates into the culturequickly, produces sooner rather than later, and is retained longer.©2012 NextGen Global Executive Search LLP 21Do your Internal & External Recruiters Measure Up?12: Conclusions
  • Offices in Chicago, Annapolis, Dallas, Nashville, Boston, Palo Alto, andLondon, UKCraig HuffordManaging PartnerPractice Lead in Retained Executive SearchAerospace & Defense, Airborne Power, Cyber SecurityEnterprise Systems & Mobility, Data CentersMedical Devices – Neurotransmitters, Imaging, DialysisToll Free: (888) 501-5580 x 101Direct: (630) 378-0005Mobile: (630) 240-0041Email: craig@nextgenges.comWeb: www.nextgenges.com