Hiring companies that understand the recruitment of senior business leaders is a two-way street will be in the best position to compete in an increasingly global war for executive management talent.
That is because no matter how bright the future prospect for your business, the most exceptional candidates for senior management roles will assess whether it has the right stuff to magnify their performance and thereby bolster their career.
Hiring organisations must offer these seven benefits to attract top business leaders and get them to stay and perform at peak levels:
- A great story (they want to be part of something special, compelling strategy)
- Brands/products/services that are admired/profitable/have staying power (they want a platform for long-term growth)
- An environment that speaks to personal growth (get better at what they do)
- Work that has meaning (that's makes a difference)
- Chance to join an inspirational leader (reputation for doing the right thing)
- Wealth creation (financial security)
- Effective board governance (leadership that takes governance seriously)
The first proactive step employers can take to spark the kind of gravitational pull necessary when it comes to attracting the best management talent is to develop a talent scouting strategy that can also evolve into a succession risk management tool.
The increasing globalisation of business and of employers both large and small pose significant questions about whether an organisation can leverage the same assets to attract exceptional management talent in other regions of the world. Creating the right compensation framework is a necessity to engage top leaders, but their fit has much more to do with their sense of satisfaction in a new environment.
Companies that assume they can attract great executive leaders are often the ones that can't make their own business case to potential recruits and who fail to attract the highest calibre management candidates in the first place.
The bar on what it takes to attract the best talent is being pushed higher. When and how employers recognise that and whether they stay or get in the game are issues that will surely redraw the competitive business landscape for years to come.