Working with an LP Search Firm Partner

Published in RILA 11/08 Asset Protection Report

As leaders in our industry, you have hired many executives in your careers and probably some with the help of a Search Firm partner. With all of the internet job boards that are available and you’re own networking capabilities then why would you need to partner with a Search Firm? Won’t you be saving your company money by not using a Search Firm? Well, perhaps but let us consider the following.

Did It Really Save You Money?
During a recent conversation with a pyramid head they shared with me that they were about to make a third offer on a field level position that has been open for 6 months. Of the two previous offers, one was turned down and the other person accepted a counter offer from their current employer. It is their opinion that this individual used them to get more money from their employer. If this was the case then it was certainly a very short sided decision by this candidate who has put their reputation in serious jeopardy. So by not using a Search Firm partner did it really save them money? You be the judge. A qualified Search Firm partner would have filled the position in less than 6 months and probably would have closed the deal the first time. They also would have been able to identify and screen out the individual who played the counter offer game.

Leverage All of Your Resources
By leveraging all of the resources available to you in your quest to find the best candidate you will significantly increase the odds of being successful. Relying only on networking and the internet you will miss out on the largest group of candidates out there, the candidate who is not looking. Your objective is to find the best candidate and your qualified Search Firm Partner will help you to identify those individuals who are not looking.

Budget Concerns
In this current economy, spending money is especially a concern for any organization. But as we all know shrinkage losses occur no matter what the economic conditions are and selecting the right person will help to ensure the success of your Loss Prevention efforts. This is a 42 billion dollar problem that is not going away.

Overlooking Potential
Potential is something that I need to keep in focus when working assignments for my clients and as hiring managers you should as well. It is very challenging because everyone would love to hire someone who has “been there done that” or someone who can “hit the ground running”. But let me ask you something, didn’t we all get to where we are in our careers through hard work and because someone gave us a chance? I realize that in many instances you need that “has been there done that” person for your challenging positions, however overlooking potential is a mistake because why should someone make a lateral move in their career? If you hire that “potential” candidate you will find a person who is more motivated and enthusiastic about their opportunity to move up the ladder and prove themselves to your organization and to our industry. As a leader, there is no greater satisfaction than developing others and watching them progress throughout their careers.

Working Together
It sounds simple but as the hiring manager, are you on the same page and directly involved with your internal and external recruitment team? Who is screening potential applicants for you and do they understand what they are looking for? Working together will expedite the process and you will reach your objective of finding the right person. Information should be available to these teams to help attract and recruit the top talent available in our industry. Be realistic, it is very competitive out there when it comes to attracting the top talent in our industry. You need to ensure that your internal and external recruitment teams work together to help you find the best person available for you. If you take a dysfunctional approach you will be putting yourself and your organization in jeopardy with hiring mistakes that will cost you more time, cost you more money and you will have to begin your search all over again.

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