Attracting and interviewing senior level candidates for key strategic roles in a business is a challenge. But how do you ensure that you are selecting the best candidate for the role?
Many senior candidates have impressive CVs and apparently impressive track records. Most can talk a good game; however, studies estimate that the cost of a bad hire can be as much as three times the candidate's salary package, meaning that recruiting top level talent is a crucial one to get right.
Get it right first time and these leaders, not only shape the strategic direction of the company but also influence culture, drive performance and impact employee engagement. To ensure you attract and secure the best talent, it’s essential to adopt a structured approach to the hiring process. Here are Rutherford Briant’s seven best practices, to guide you through hiring senior-level recruits.
Decide on a Hiring Process Before You Begin
Before you even post a job description and certainly before you start interviewing people, it is crucial to establish a clear and comprehensive hiring process. This should include defining the role and responsibilities, outlining the selection criteria and determining who will be involved in the interview process. Create a timeline that includes each stage of the hiring process, from starting the process to onboarding. Given that senior level candidates can be on 3 month or even 6 months’ notice period, the process can take longer from start to finish than many businesses envisage.
Consider an Interim Option
If a key hire is to replace someone key leaving the business or to accommodate demand or business growth, it is worth considering whether an interim option could give more business continuity and the possibility to bring in some shorter term, useful skills such as transformation, systems implementation, cultural transformation, scale-up etc, that might be very useful in the short term, but not essential for the permanent solutions. It can also allow the use of the expertise of a professional interim to help shape the correct spec and process to attract the permanent solution.
Partner with the Right Executive Search Firm
When hiring senior-level executives, it is important to be able to be in a position of strength, to be able to choose from the best talent available on the market.
To find the right partner, consider their track record, industry knowledge and the methodologies they use in their search. Look for firms that prioritise cultural fit and long-term success over quick placements. A strong partnership can make a massive difference in the impact a new senior hire can make in helping you achieve your strategic business goals.
Develop a Comprehensive Candidate Profile
A well-defined candidate profile is essential to identify the skills, experience and personal attributes that will contribute to success in the role. In addition to technical skills and industry experience, consider attributes such as leadership style, cultural fit and adaptability.
Engage key stakeholders, including current executives and team members, in the development of this profile. Their insights can help ensure that you’re not only looking for technical qualifications but also for candidates who align with your organisation’s vision and values.
Conduct Thorough Interviews and Assessments
Once you’ve identified potential candidates, it’s essential to conduct a thorough process to evaluate their experience, qualifications and cultural fit. This should include a combination of behavioural interviews, competency-based assessments and reference checks.
Don’t be afraid to ask candidates to quantify their achievements. To what degree were they personally responsible for the achievements or how much was down to company or market conditions? Anyone can sell ice-cream in the summer and look for a new job when winter comes! Can claims be verified through external sources? Customer testimonials, company accounts, ex colleagues, referees. As a general rule, use at least as thorough due diligence as you would for a new supplier to your business.
Ask open-ended questions that reveal how they’ve handled past challenges and their approach to leadership. This will provide deeper insights into their problem-solving abilities, decision-making processes and interpersonal skills.
Psychometric Tests, Presentations and External Consultant’s
It is very common for senior level hires to put in an extra layer of assessment. Presentations can be a great way to practically evaluate communication skills as well as the ability to assimilate the information given to candidates during the interview process and how they can form and present their strategic plans.
Psychometric tests can also be useful but should be used carefully if there is not a clear profile of the overall management team using the same skills to balance this with.
Very often external agencies can give a great outsiders perspective of candidates. Whether this is from external advisors such as Accountants, HR consultants or trusted recruiters, you can get a view of team dynamics and values fit that can counter any assumptions of what works best, based on previous incumbents.
Ensure a Smooth Onboarding Process
The hiring process doesn’t end once you’ve selected a candidate. A smooth onboarding experience is crucial for integrating new executives into your organisation successfully. Develop a structured onboarding program that includes orientation sessions, introductions to key team members and clear expectations for the role. This is true both once the new candidate starts, as well as when they are in their (potentially long) notice period.
Provide ongoing support and resources to help them acclimate to the company culture and operational processes. Regular check-ins during the first few months can also facilitate open communication and ensure they feel supported in their new role.
Hiring senior-level talent is a critical investment for any organisation. By implementing these best practices, companies can create a robust hiring process that attracts, evaluates and integrates top-tier candidates effectively. Remember, the goal is to find not just a qualified candidate, but a leader who aligns with your companies’ vision and can drive long-term success. Take the time to build a thoughtful and intentional process and you’ll reap the rewards of your effort in the years to come.