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Recruiting a top tier executive in the current market is often a case of trying to catch a big fish in a small pond. The most capable and sought-after individuals are presented with more opportunities than they can manage, leaving them with insufficient time to navigate grueling, in-depth interview processes.
At Page Executive, we help a variety of organisations to stand out in a crowded market and make their opportunities more appealing to executives who are in high demand. Here, we’ll be discussing key success factors for appealing to top leadership candidates and how employers can optimise their hiring processes.
Location is not the prohibiting factor it once was. For example, Unilever have announced that their employees can live anywhere they choose, as long as they can visit the office in person given 24 hours' notice. Essentially, this means employees can live almost anywhere in the world with reliable air travel, and the allowance even supports individuals who want to live in semi-remote locations.
The adoption of hybrid and remote working has had transformative repercussions for hiring. Organisations that expect senior leaders to work in person from the office for more than fifty percent of the working week are now losing some of their executives to other, more flexible employers - and are often also struggling to replace those people.
The hiring process itself can influence candidates' willingness to engage with an opportunity. Long, intensive interviews are problematic in a tight hiring market. That’s why at Page Executive we are advising clients to condense their interview stages by having candidates meet multiple decision makers at once, and to remove demands like labour-intensive presentations if they are not essential.
Video interviews are a flexible option, but some candidates still want to meet face-to-face and see the office environment before they decide whether they are interested in a role. Working with your executive search partner, you can check if this is a priority and schedule it early in the recruitment process if necessary.
It’s also important to have a well-thought-out interviewing timeline, with possible dates already scheduled in the diary for first, second, and final interviews. This will reduce the likelihood of delays and enable candidates to plan and schedule around their work and personal commitments.
In this fast-moving executive recruitment market, there are several things you should focus on to optimise your hiring process. Here are some highly effective ways to attract top talent quickly:
Choose one trusted executive search partner and work with them exclusively. This approach will ensure that your partner is clear on your company culture, the role, and the ideal candidate you are searching for. It will also reduce search times and enable your partner to present each opportunity in the best possible light.
Expecting candidates to research your company is reasonable, but it’s also important to be honest and open when providing information that will attract them to the role. Provide financial details, corporate strategy, challenges, and opportunities up front so the candidate is able to make a fully informed choice.
Talented candidates are seeing interest from all sides. So, if you meet a candidate you like, provide quick and clear feedback at every stage. This is not a time to be coy about whether they meet the requirements for a role. In the worst cases, a delayed decision can be a red flag to the candidate, who may perceive it as a lack of leadership and could turn down the opportunity as a result.
The dynamic of the executive recruitment market has shifted from "why should we hire you?" to "here’s why you should choose us". First and foremost, sell the opportunity using compelling candidate information packs, multimedia, and digital technologies. Also, sell the story of the company and the opportunity. Persuading candidates that they want the opportunity is a crucial step toward hiring the right person. After this is done, work with your search partner to assess their experience and capability for the role.
Recruit in good faith. We would strongly discourage companies from using tactics like offering a competitive salary upfront and then attempting to renegotiate rates in the final contract. If basic salary is restricted by budget concerns, try to improve the overall offer with a ‘golden hello’, increased holiday allowances, long-term incentives, pension benefits, and even with your policies on flexible working, wellbeing offerings, and on-site facilities.Don't make the mistake of assuming talented candidates are motivated primarily by financial remuneration, however. In many cases, the non-financial elements of a contract prove most influential in leading the candidate to sign.
Finally, remember that no matter what you do, you will not always land the candidate you want most. To prepare for this, try and find two suitable candidates at offer stage so that you can hedge your bets. Equally, if you meet an ideal candidate but don't currently have a vacancy to fill, try to keep in contact with them. Ongoing open communication will help if you later find you have the perfect opportunity to offer them.
For expert assistance in standing out as an employer of choice to top leadership candidates, get in touch with Page Executive today. We work closely with each of our clients to truly understand their needs and challenges, forming a long-term partnership that delivers real value.
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