Team Belong has started a weekly Twitter Chat called #TalentTalk, where we invite HR thought leaders, influencers and game changers to better understand the evolving nature of finding talent.
In our first episode, we started right at the top - What is the new age modus operandi for hiring executive talent?
1. Are there new rules for hiring executive talent?
@BelongCo hi. It's all about showcasing great work, making personal connections with the talent and engaging our own leaders to market us— Subhasis Mishra (@subhasismishra) March 10, 2016
As Shakun Khanna of Oracle aptly put it - "From buyers market, executive talent has moved to the sellers market." A strong employer brand reduces cost per hire by up to 50% and lowers turnover rates by 28%. Companies now have to impress prospective candidates instead of the other way around by first building their culture and brand.
The next step is finding the most relevant talent pool. According to multiple guests, tapping internal references and using personal connections is soon becoming the best way to find and engage with candidates. Getting internal talent magnets and leaders to advocate and engage directly can help ascertain whether the candidate is a good fit within the team and larger organization as well. Companies can also expedite the process of finding the perfect hire by intelligent profiling and targeted search.
By making pro-active changes to the way they approach hiring executive talent, companies can not only invite the best, but get them to sign on the dotted line too.
2. How do you improve candidate experience when hiring executive talent?
Joining a new company at the executive level can feel like attempting to jump into a moving train. Therefore, it is absolutely essential that careful thought is put into the candidate's experience.
Organizing mentorship programs, ensuring a seamless transition process and maintaining open communication are just some ways to improve candidate experience. It's now imperative that companies go the extra mile, and give each potential hire a truly personalized experience in order to impress and convert.
How you hire at the executive level undoubtedly influences recruitment at all levels of a company. This is why it is so much more important to challenge traditional practices while hiring executive talent.
3. How do you evaluate executive talent?
In Steve Wynn's words, *Human Resources isn’t a thing we do. It’s the thing that runs our business*. When deciding whether a candidate is the right fit for your team, look beyond the CV offered.
Most importantly, using data both to evaluate future hires has become integral to the recruitment process. A Fast Company study found that 21% of companies that hired bad employees was because of insufficient testing or research of candidate’s skills. According to our guests, “assessments (like Critical Thinking) and Personality Profiling are getting more and more important”, and “Moving from gut based hiring to scientific assessments of fitment a key imperative”.
Finally, understand if the candidate’s personal goals and accomplishments align with the company’s vision. This can be done through recommendations and referrals, through analyzing their social footprint, and even through innovative testing.
@BelongCo Same rule, hire for motive >= talent, impact >= intent, culture = fit.— Kevin Freitas (@kevinsfreitas) March 9, 2016
To see all the the entire conversation straight from the experts themselves, we used Storify to bring the entire chat together. You can find that here.