Posts Tagged ‘Recruiting’

Exposing Skeletons, Before That New Exec Becomes That Big Mistake

May 2009

The hunt for a key executive, a CEO or CFO, typically requires three to six months of effort. No board of directors or hiring manager wants to arrive at the end of such a grueling journey only to find that the entire effort has failed and has to be repeated. It’s emotionally debilitating and very costly.

But it’s far better than an even more costly alternative: hiring the wrong person.

Too often hiring managers are so fatigued at the end of the drawn-out interviewing and evaluation gantlet that they agree to hire a candidate without making absolutely certain that the person is authentically who he or she purports to be. Quick decisions at this stage can lead to organizational, financial and public relations debacles that can take years to live down.

If there is a skeleton lurking in the candidate’s closet, someone will eventually pay in a severe way for not unearthing it before hiring is complete and the individual is onboard collecting a high salary.

Of course, rigorous and comprehensive reference checking from all angles can help prevent such an occurrence. But the unmentionable truth is that reference checking in the first part of the 21st century is a highly problematical effort at best.

Continue Reading:
Recruiting and Exposing Skeletons (PDF)

-

We encourage you to download these articles if you find them of value.  We suggest you to share them with other members of your hiring team, as you see fit.  We also encourage you to contact the author of any of these articles for any additional information and/or insights.

Posted in The Recruiting Process

The Big Secret: Top Performers Are a Bargain!

May 2009

Are top performers expensive? If you ask any expert in compensation to tell you what the typical pay differential (i.e., salary and bonus) is between an average performer and a top performer in the same job, you might be surprised to find out that the differential isn’t much.

The analysis goes something like this:
Top Performers Can Be Paid Slightly More

  • Top performers generally do get paid more than average performers. But the extra compensation for top performers rarely exceeds 40% over what average workers get in the same job.

Top Performers May Cost No More Than Average Performers

  1. In some situations, the pay differential between a top and average performer may actually be a negative number. In other words, top performers may get paid less than average performers. For example, universities, government agencies, and other unionized organizations may actually compensate an individual that outperforms other workers less because of their lack of seniority or because they have been out of school for a shorter period of time than their “seasoned” counterparts. They also may get paid exactly the same because there is no performance bonus program.
  2. Since benefits are not based on performance, there is no additional benefit costs when hiring a top performer.
  3. Top performers require no more management time, training (they may actually require less), or travel expenses than average performers.
  4. Top performers require no unique or additional equipment.
  5. The cost of recruiting a top performer is, in most cases, no higher than hiring an average performer.

So What Does This All Mean?
What it means is that when you calculate the difference in total costs (including all of the above listed factors) of managing the employee from hire to termination, the actual net cost of hiring a top performer is generally no more than 25% higher than the cost of hiring an average performer.

Asking The Important Question: If I Spend More, Do I Get More?

Continue Reading:
The Big Secret (.doc)

-

We encourage you to download these articles if you find them of value.  We suggest you to share them with other members of your hiring team, as you see fit.  We also encourage you to contact the author of any of these articles for any additional information and/or insights.

Posted in Leadership & Management

International Retained Search Associates

1150 Hungryneck Blvd, Suite C-373 Mount Pleasant, SC 29464

| 843-805-7017