on news

footer news ticker

resources.

TAKE OUT THE GUESSWORK

Dec 26, 2015 | The ON Experience

USING DATA, STRATEGIC HIRING FRAMEWORK, TO REDUCE RISKS INHERENT IN HIRING

Smart Business
Seth Harris interviewed by Adam Burroughs

 

DOWNLOAD

Data is driving the executive search process, helping companies reach the right decision point faster and with confidence.

“Hiring the best candidates today involves more than just reviewing resumes or searching LinkedIn,” says Seth Harris, a partner at ON Partners.

“It’s about optimizing your hiring process by pairing your institutional knowledge of fit with data-driven insights. It’s about understanding the culture of your company and that of your competitors, and situational leadership competencies.”

Smart Business spoke with Harris about the data-driven search process.

What does an executive candidate search involve today?
Not long ago executive searches were reliant on in-house research or connections within a market. Today, the nature of a search has become multidimensional, combining interviews, behavioral and experiential assessments, online testing, thorough reference checks and validation of a candidate’s previous successes.

These data points are combined to create analytics that can be leveraged to identify the characteristics of the right person for a job.

Popular websites such as LinkedIn and Hoovers have commoditized how source environments, which are the collection of candidates available to be searched in the public domain, are built.

But it’s the application of a company’s own research and knowledge that’s needed to assess the experiential competencies — the acquired skills and experiences a person must have to do a job properly — and the behavioral competencies — those that focus on character traits — that lead to a tremendous hire.

How are data points captured that are used in a search?
Information is being gathered and tracked through proprietary systems that quantify experiential and behavioral traits linked to the key attributes of successful leaders, creating unique source environments of pre-qualified candidates.

For example, there are search firms that have identified a core set of leadership competencies for C-level and top functional executives based on decades of research. This enables companies to zero in on their own talent gaps to address their ideal future state relative to human capital and leadership.

What are the starting points for a data-driven candidate search?
To get started, it’s important that a company assess the leadership qualities necessary for the different stages of its growth.

Within each stage — be it startup, turnaround, realignment or sustaining success  — a company must understand what leadership competencies are most critical and then map the business situation to the competencies needed. Each business situation requires a leader with a different set of skills.

For example, a startup requires a leader who can make tough calls early without the benefit of infrastructural support or data. Conversely, a company or division that is already successful and needs to sustain that success requires different skill sets to succeed.

Companies must then determine the baseline qualities that define successful leadership attributes at their company. Enroll as many people cross functionally in this mission.

The companies that have the strongest hiring track records are able to draw good results statistically because they have clarity of those attributes, which they can measure and coach to. Once it’s clear what success looks like for a position, then determine how to test for those behavioral and experiential competencies.

What should companies keep in mind as they approach a data-driven search process?
It takes time. Companies that struggle with making quality executive hires are typically treating each search as an exclusive event and fail to look back at what’s worked and what didn’t to get smarter about making better hiring decisions.

Create a talent strategy that looks at those leadership attributes that transcend the different functions and best represents your company’s culture.

Look closely at your best people, draw conclusions regarding your talent gaps, build your leadership competencies, integrate your process with your in-house talent acquisition team, and measure your success in identifying, attracting and retaining top talent. This will lead to a better flow of qualified candidates. ●

Resources: Smart Business Online

Explore: Our Resources

Recent Comments

    Archives

    +

    connect with ON.

    Bring ON executive search insights!
    Sign up to receive thought leadership pieces, ON in the news, recent placements, quarterly updates and more.

    ON resources.

    ON in the news

    ON successful placements

    SUCCESSFUL PLACEMENT: EPICOR- CHIEF ACCOUNTING OFFICER

    Epicor Software Corporation Names Greg Dunn Chief Accounting Officer (CAO) and Head of Corporate Development   Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth and owned by global investment firm...

    SUCCESSFUL PLACEMENT: GETAROOM – PRESIDENT AND COO

    Getaroom® Names Matt Davis President and Chief Operating Officer   Getaroom®, a technology-enabled, B2B-focused distributor of hotel rooms and funded by growth investor Court Square Capital Partners, has named Matt Davis as President and Chief Operating Officer....

    a better experience gets recognized.

    ON Partners named to the Weatherhead 100 Case Western University annual ranking of the region’s fastest growing companies
    ON Partners named by Boston Business Journal’s Largest Executive Search Firms and Minneapolis/St. Paul Business Journal’s Twin Cities Largest Executive Search Firms
    ON Partners six time Inc. winner by being name to the Inc. 500/5000 Lists and to the Inc. 5000 Hall of Fame
    Hunt Scanlon names ON Partners executive search firm to the Private Equity Recruiting Power 75 list
    Business Insider ON Partners Executive Recruiters
    Fortune ON Partners Executive Search
    Fast Company ON Partners Executive Search Consultants
    ON Partners named by Forbes as one of America’s Best Executive Recruiting Firms

    ANNAPOLIS • ATLANTA • BOSTON • CLEVELAND • DALLAS • MENLO PARK • MINNEAPOLIS • NEW YORK • SAN FRANCISCO

    © Copyright 2019 On Partners. All Rights Reserved.