 Senior
executives ($90K to $400K+) get jobs primarily
through networking. Over 80% succeed in this manner
because a referral is still the preferred way
to hire senior talent, even if it involves a few
degrees of separation. While there is certainly
a place for the retained recruiter in senior executive
placement, the predominant success of networking
speaks for itself.
Although most executives agree that networking
is key, many are hard-pressed to explain why.
The answer is basically quite simple: a good executive
does not advertise his/her problems, s/he solves
them.
For example: 18 months ago, a
Vice-President of Finance in a $200M company hired
a Senior Director from a quality search firm and
paid a substantial sum of money for him. He is
performing well, with one exception: the company
is growing at double-digit rates, and he is not
on top of the growth curve, which is a major key
to profitability. In the VP’s opinion, her
Director is 80% of where she would like him to
be, and the situation is becoming more serious
with each passing quarter.
What Are The VPs Options?
Option 1, firing the Director makes little
sense, since overall he is performing well, and
creating a vacancy only advertises the issue to
the VP’s boss and others, while creating
a new problem (i.e. who does the work?) for the
VP.
Option 2, informing her boss of the situation,
may not be the right move, because she is clearly
responsible for the problem. Signaling her boss
to watch how fast and effectively she solves it
is obviously not in her interest. Any good executive
calls attention to her achievements and successes,
not her problems—especially those for which
she is responsible.
Option
3, retaining another recruiter to “get
the ball rolling” is something to consider—provided
the VP’s budget can handle the additional
expense. However, even if the funds are available,
an unexpected retainer bubbling up on a financial
report could prove awkward.
Option 4, handing the problem to HR,
may also be ill-advised. This would initiate a
lengthy search-and-interview process, of which
everyone in the company would soon become aware.
In many cases, this option is just not feasible.
The Best Option Is Saved
for Last.
Option 5 is networking.
About 80% of the time, networking is the preferred
method. The reasons are simple: on a confidential
basis, the VP can talk to her friends, professional
colleagues, and associates to obtain recommendations.
She can also access school and professional associations.
She will get referrals and interview candidates,
and when she finds a good match, she’ll
hire him/her. Later, she will terminate the current
Director with a severance plan. If the position
is ever “vacant,” it will be so for
a minimal amount of time. Again, a good executive
does not advertise her problems—she solves
them.
HiProFile Professionals, a specialized
placement firm for senior executive-level talent,
has capitalized on the value of good networking. The company is specifically designed to
help selected corporate decision-makers extend
their networking ability.
This is how it works: once an organization becomes
a HiProFile (HPF) Member Company, its senior personnel (a limited
number) are given access to HiProFile Placement Consultants. Whether actively seeking
talent or merely considering the possibility,
selected member company decision makers can confidentially
give HPF a profile and HiProFile will go to work. HPF uses its
own résumé databases, networks,
and proprietary methods to identify, screen, interview,
evaluate, and select a small number of quality
candidates that meet the profile.
Before a candidate is seen by a hiring manager,
his/her personality is assessed, biographical
summary prepared, and documentation re-formatted.
The candidate is reference- and security-checked,
and prepared to effectively interview. This saves
the hiring decision-maker both time and money.
While this process does not necessarily mean that
every HiProFile candidate is
hired, it greatly increases the probability that
most candidates will be interviewed. And,
perhaps of greatest significance to the member
company, should it decide to hire a HiProFile candidate, there is no additional fee. |
