|
Replacing key personnel has, in the last twelve months, become a priority as companies seek new executives to continue taking forward their businesses, according to a recent survey.
Last year restructuring is cited as the most common single reason for recruiting with more than half of those interviewed mentioning new organisational structures as a major factor. That situation has now evolved with only 47% of respondents indicating corporate change as a prime reason for recruitment. Replacement is now ranked first, with more than 56% of recruiters listing it compared with 42% of last year.The survey findings reflect the fact that the "shake-out" process is coming to an end as most companies have now made themselves leaner and more efficient. Another factor is that recent high levels of executive recruiting mean more people have to be replaced.Company growth has been holding up well, creating higher levels of rival recruiting. Those taking part in the survey indicated that replacement and growth will continue to be the major determining features in executive recruiting patterns during the next year.Latest survey findings also reveal consistently high levels of using a management recruiter international during the year (74% compared with 76% last year) while fewer have employed advertising-based selection process (61% compared with 75% last year).
THE RECRUITMENT MARKET: FULL CIRCLE
In many respects, the recruitment wheel has turned full circle in the last ten years. Executive employment was a seller’s market, as the demand for suitable candidates tended to exceed supply. Then came the recession and many excellent people, through no fault of their own, found themselves seeking work. In the last few years, however, attracting and retaining the right candidates has again become difficult because of the increasing skills, shortages and the expansion of the executive’s role to include many diverse areas.
Once again there are not enough good people to go round and the best candidates always have alternative offers. It is therefore more important than ever that we identify the best candidates and persuade them to accept our clients’ offers. This means working very closely with clients to ensure that they offer the right packages and then use the right method of recruitment. This can be using a head hunter or advertising, or a combination of the two, which is becoming more common. Once quality candidates have been identified, it also means working very closely with them to ensure that the whole recruitment process is positive, enjoyable, professional and fast.
THE HIRING PROCESS: QUICKER AND QUICKER
It has always been vital for service providers to respond quickly to enquiries, but now the executive head hunter and the selection specialist sometimes have to be available round the clock. The recruitment process has quickened considerably during the decade. The time from start to short-list often used to take 12 weeks, now it is often achieved in 4 – 6 weeks – one of the many advantages of pure search over selection, with its built in, unavoidable time delays.We certainly find that speed is of the essence these days. We ask clients to book dates in their diaries before we start, to ensure that there is no delay in getting to the short-list interview point and beyond.
CUSTOMER SERVICE: GET IT RIGHT FIRST TIME
The executive recruiting market is much larger and more competitive than ten years ago. One reason for this increased pressure is that organisational structures tend to be much flatter than in the past. This means that there is less room for mistakes in recruitment and the consequences are now far more obvious and much more serious for employers. It is therefore essential to get it right first time to avoid delays and excessive costs.
USING CONSULTANTS: A FAST GROWING TREND
One reason for the consultancy sector’s growth has been the tendency for companies to disband large HR departments. Many former in-house recruitment specialists now carry out the work as external consultants.Companies have recognised that outsourcing executive recruiting is appropriate for several reasons. Among them are: the expertise of professionals who specialise in helping companies to recruit and who can make the process much more effective. Employers can improve results further by engaging a head hunter with knowledge of their own business sector or a particular expertise in a functional discipline: some consultancies – can travel the globe for the right candidates whereas such searches are impractical for companies, as they would involve contacting rivals, suppliers or other firms directly connected with them.
CANDIDATE DEMANDS: GOLDEN HELLOS, DUE TO FREQUENT GOODBYES
One major change in the executive recruiting market during the last ten years is that no one now expects a job for life. The other side of the coin is that people therefore expect high rewards from their employers in return for their loyalty. This has led to the rise of the "golden hello" and a tendency for candidates to expect a broader range of benefits. Share options are particularly popular in the modern menu of employee benefits. |
