Most decisions a business makes are small. A single sale, choice or interaction doesn’t add that much value for a small business owner, or damage it much if it goes wrong. Hiring an executive is different. They can make or break an organization. Hire a star and you win because they will unleash a tsunami of innovation, empower employees and generate wealth for the owner. Hire the wrong person on the other hand and you risk much more than short-term turmoil; a bad hire may, in fact, mortally would a small business.
For every small business owner, a lot rides on hiring the right executives and the risks are now higher than ever. Here is one from Hiring Greatness: How to Recruit Your Dream Team and Crush the Competition which will you hire top executives:
Executive Search firms work with an industry’s A-Team executives day in and day out. We know who they are. Where they are. What turns their crank! And when the time is right for them and you – we help you connect so you can hire them and execute. Your HR group can do much the same thing. To do Opportunistic Recruiting effectively simply requires you dedicate one senior person internally to actively talent scout the best people in your industry on a regular basis. Know when your competitor’s best people are ripe for a change such as when stock options vest, when new products are late to market, or when there has been a recent change in senior management. Recent or upcoming acquisitions are also prime opportunities. Or better yet, a few days after your competitor announces a lay-off, call the people you’ve been tracking who are still employed at the target company and offer them the opportunity to work with you. No question, the best time to tempt someone is while they’re pondering their future. You gain the talent and your competitors lose talent at their most vulnerable time – so be opportunistic when you’re recruiting.