We can’t quite believe it at Red Diamond, but December is here. Never mind being ready for Christmas, however: the real question is whether your business is ready for 2019. When it comes to appointing senior figures it pays to plan ahead, and if expansion or change is on the horizon in the new year, you need Red Diamond’s top tips for getting the ball rolling now. Ready?
PROFILING YOUR PEOPLE. Knowing your senior management team is invaluable at all times, but particularly crucial if you have some ambitious change and/or growth planned for 2019. Far too many companies make the error of apportioning responsibilities based on seniority rather than giving the lead to the personality or leadership style best suited to the scenario. Don’t operate on hunches or gut feelings and assume nothing. Getting it wrong could jeopardise your goals and put you back several steps in your journey.
So how to get it right? Well, be proactive. Profile your people. Choose a brand of psychometrics that best suits your business and your needs. Interpret the data carefully, match individuals to remits and identify gaps in experience or skills. You might find that a role has already expanded and developed far beyond the original title – do you really need a CFO rather than a Finance Director, for example? And, if so, how are you going to address that gap – through internal staff development, or by seeking new talent? These decisions are highly complex, but Red Diamond has the expertise and knowledge to assist you throughout the entire process.
PREPARE FOR LEADERSHIP CHANGES. Another hot topic in the world of executive headhunting: succession planning. Some stark facts: according to 2017 data, there were just 8 CEOs under the age of 50 on the FTSE 100. Recent research claims that the average age of corporate board members exceeded 60 for for the first time in 2017. Executives are getting older – you only need to look around your boardroom to realise it. So why do so many businesses refuse to confront the elephant in the room? We don’t want you to discount the experience that maturity brings – far from it – but rather to appreciate the fact that some senior members may well be planning for retirement. The consequences of not having a robust succession plan can be catastrophic – the impact on staff morale, investor confidence, media attention and, in the most dire circumstances, business continuity has the potential to be hugely damaging.
Red Diamond has worked with dozens of clients on this most challenging of tasks, i.e. planning effectively for the future. We help them to identify potential candidates for senior roles, develop their internal talent, deliver the appropriate coaching and training, communicate effectively with stakeholders and more.
IT’S ALL ABOUT THE PROCESS. Once you’ve identified gaps and needs, how confident are you on process? If it’s been a while since you’ve appointed a senior executive, the process of finding, screening, selecting and then interviewing candidates can be daunting. What questions will you ask? What metrics will you use? Who to include on the panel? What kind of tasks to set? Again, there’s the issue of objectivity – how to make sure you aren’t being deceived, and that what you see is really what you’re getting?
Again, this is where the support of an external, specialist executive search service really comes into its own. We’ve organised thousands of selection and interview processes and we’re confident in our ability to get it right.
DATA. What data do you use within your organisation? How regularly do you use it for reflection and future planning? Do you track patterns over time? And specifically, what data do you use for your own internal recruitment – where are your most effective employees? What interventions have positive impacts on their work? What kind of selection or interview process garnered these most effective individuals? What kind of actions impact on your employee retention stats?
We’re not data obsessives, but we do recognise the value of recording and analysing hard and soft data for efficiency, retention and results. Red Diamond can offer you advice on using people-related stats and help you get a handle on your figures – just ask.
REFERENCING. And if your growth plans for 2019 pay off and your senior appointments go ahead, are you ready for referencing? It takes a sharp, experienced eye and ear to execute a rigorous referencing process, but the good news is that Red Diamond is staffed by a number of very experienced eyes and ears. With us, you’re guaranteed a thorough, independent and insightful referencing experience – but don’t just take it from us! See what our clients have to say.
Ready to kickstart your recruitment strategy for 2019? Get in touch with us via email today or call us on 0845 643 2615 to speak to one of the team directly.