A business will have a number of resources to consider, and aside from the cash flow, the building, the products they sell or other capital, arguably the most important resource of all is the people themselves. Motivated, hard-working employees who are well-qualified for their jobs can get a lot of work done and keep the company moving forward, but unmotivated or unappreciated employees are more likely to simply pack up and leave, and this contributes to employee retention problem that managers want to avoid. Employee retention issues can be expensive to deal with, so a career placement agency can make sure that the best workers for the job are found. Where upper management is concerned, an executive search firm can help a client company fill a higher-up position, and an executive search, if done correctly, will find someone who is well-versed in the business and has the right education and work experience to fill the role adequately. A successful executive search can help any company get the right leadership, and an executive search consultant from such a firm will be ready to find the right person for the job.
What to Look For
Talent acquisition is not something to take lightly where upper management is concerned, since a person in such an executive role will have a lot of responsibility in the company. For this reason, an executive search firm can be hired to help a client company find the right man (and more commonly today, woman) for the job, especially since finding a new executive manager can be a strain for a company’s in-house human resources (HR) staff. Like with other staffing agencies, an executive search firm will draw upon a pool of candidates, who all have detailed profiles, and the employees at this firm will match candidates to available executive management roles based on experience, interests, educational background, personality, and more. Sometimes, this work is also known as “headhunting” for executive managerial positions. This helps avoid putting the wrong person in the wrong job, because a bad match may damage a company’s progress and lead to that manager simply leaving their position.
Like with the employees under them, a potential manager is not looking for just any old job. He or she will have career goals and personal growth goals in mind, and that candidate will want to find a job and workplace that can nurture those goals, and find a place where they can get along with everyone else and be productive. Manager candidates may be match according to criteria, and the client company can set up interviews and other testing procedures to find which candidate is best for the job.
Such positions are becoming more inclusive in recent years, and while such upper management roles used to only be occupied by businessmen, more and more women in the work force are getting these lofty positions as well. Among all Fortune 500 companies, the percentage of women in the CEO role exceeded 5% for the first time in Q1 2017, meaning that 27 different women were heading major firms, and this trend may continue well into the future. McKinsey’s research has also found that among all positions at modern workplaces, having a greater diversity of sex and ethnic background may help enrich the staff’s collective skills and abilities, and thus improve business. Gender-diverse workplaces have been determined to be 15% more likely to outperform their peers, and ethnically-diverse workplaces are about 35% more likely to outperform their peers. But there is another factor to consider when hiring a manger: retention rates.
For any position in a company, having high turnover rates can lead to low employee retention, and this can be an expensive hassle to deal with. Preventing retention rates can be done with a number of strategies. One of them is to conduct regular interviews with staff, from lower-tier workers to mid-line employees, and checking on their personal evaluation of their growth and opportunities at the workplace. If too many employees are frustrated or dissatisfied, managers can take action to fix that. Simple reaffirmation of a job well done and an employee’s value can also boost morale and keep them on board, a simple but effective strategy to follow.