How can innovating Executive Search have a demonstrable impact on business outcomes?
Recent reports highlighted the one in five C-Suite Executives fail to see tangible correlations between the HR function and business outcomes (Lewis, 2015). Taking an innovative approach towards Executive Search could turn this finding on its head!
HR is facing a huge challenge to deliver an impact on the business on a larger scale through driving innovation. The need to attract and retain talent is now more important than ever.
There has been a great deal of negativity towards HR, which must certainly be compounding any fragile relationships. However, it presents the opportunity for the HR function to defy the perceptions and make a measurable impact on a global scale.
In fact, if the facts are truly reflective of some organisations, then those boards are going to have to make changes. Whilst change may be painful, it going to be a necessity to drive long-term growth and profitability.
• Less than a third of business leaders believe that HR has a reputation for sound business decisions
• Only 28% believe HR is highly efficient
• Even less (22%) believe HR is adapting to the changing needs of the workforce
• Just 20% feel HR can adequately plan for the company’s future talent needs
To keep it simple, there are 3 things that could quickly make a demonstrable impact. Ultimately they will all impact the bottom line:
1. The time taken to make a successful hire – longer processes will forgo productivity due to vacant positions
2. The quality of the talent pool and successful hire – the right person will on-board efficiently and quickly become both productive and profitable
3. The costs to hire (and mis-hire!) – traditional models of hiring offer little flexibility with high up-front and retained fees
Whilst these factors will have an impact at every level of hire, the impact at C-Suite level will unquestionably be the greatest.
Today’s market sees an unprecedented demand for intellectual capital. Candidates are presented with renewed options as the competition for the best has ramped up. So, surely now is as good as time as any to make a change?
Making a change to how top Executives are hired can quickly lead to improved outcomes. Click the image below to see a short, 90 second video about how the implementation of an innovative model of Executive Search at G4s has improved the recruitment of Senior Executives, and enabled them achieve in excess of one million pounds of cost savings.