We have discovered that in many companies the hiring process is random, unstructured, and often the people are not highly skilled at hiring. It is no wonder that for many companies hiring top talent is a challenge.
Most companies typically have very sophisticated processes and procedures for just about every activity except hiring. This in our opinion includes the Fortune 500. So often it is assumed that the hiring manager or a colleague has hired so many people they must be good. We conducted a recent, non-scientific survey of CEOs and Key Execs. We asked, “How many of you have audited, not co-interviewed, the hiring managers on your team to determine if they are competent to be interviewing?” Less than 5% responded positively.
This would never happen with any other activity in a company. This just validated why so often the wrong person gets through the hiring process.
All that’s required is a structured approach that enables companies to avoid the predictable pitfalls that plague many high-level hires. Based on our experience with hiring thousands of executives, we have developed The Success Factor Methodology that consists of eight distinct steps:
1. Build a multi-faceted Success Factor Snapshot to guide the entire search process. (Click link for examples) 2. Implement a deep sourcing strategy to reach and attract selective and sleeper candidates. 3. Identify and verify success prospects. Create a Compelling Marketing Statement (Click link for examples) 4. Create structured dossiers on selected candidates to enable objective, unbiased evaluation and comparison. 5. Conduct Success Factor-based panel interviews using a “magnifying glass” probe methodology. 6. Proactively address and overcome obstacles to hire throughout the entire active interviewing process. 7. Streamline compensation and benefit negotiations through structured interview-based preliminary groundwork. 8. Follow through on the hire with proven transition communication and work style assessment, coaching and facilitation.
Together, these steps comprise the ‘Success Factor Methodology,’ a proven process for improving your ability to find, recruit and hire top level executive talent. Each step in the process requires the full collaboration of stakeholders in all the business units affected by the potential hire. When you employ the methodology in a consistent and systematic manner, the outcome is a hire with a significantly increased probability of delivering the performance level you are seeking.
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