Senior executives transition to strategy development from operational levels. These leaders are responsible for providing direction by defining the mission and vision of the organisation. Besides, they are also expected to be accountable for financial growth, team coordination, employee engagement and brand image. Senior executives are also involved in building and sustaining the company culture while integrating innovation into the strategy.
According to a Manchester Consulting study, within eighteen months of recruitment, four out of ten leaders fail. Drake Beam Morin, Inc. estimates that 60 percent of companies across the globe have had to replace their CEO since appointing them. A majority of companies expressed in a survey that they were not confident about their recruiting strategies for leadership positions.
Senior leaders are responsible for formulating and executing smart strategies that help the companies thrive in the highly competitive business scenario. Recruiting the right leaders is the top priority for management that needs a different approach as compared to hiring mid-level managers or juniors.
Senior level hiring needs a different strategy
Strategic senior leadership is an all-in-one combination of a strategist, navigator, entrepreneur, mobiliser, talent advocate, change driver and global thinker. Finding the right skill sets is challenging as the talent pool available at this level gets narrowed down.
Highly talented candidates are likely to be sought after by multiple companies. HR managers need to move in swiftly to grab the right candidate with efficient hiring processes. On the other hand, since senior leadership roles necessitate handling of sensitive data, contracts and financial transactions, delving into their background with in-depth executive screening is critical.
Senior level leaders are required to possess specialised skill sets including networking, communicating and team building. A high level of personal integrity is absolutely essential given the sensitive information they handle. A 360-degree executive screening or leadership due diligence is required to go into their prior employment history to know how they performed in different situations.
Leadership roles demand impeccable track record and consistent performance in terms of deliverables and problem-solving. For HR teams, delving into various sources to check each of the candidate’s past employment history, performance, references and criminal records can be a painstaking process.
Given the shortage of talent at this level and the fact that senior executives have no time to waste for elaborate recruitment processes, it is imperative to tie up with professional executive screening providers. Moreover, it is crucial to be discreet when conducting executive screening of top-level leaders, some of whom may be public figures or celebrities in their own right. Leaking of important information can amount to breach of confidentiality and the company is liable for prosecution in many countries.
Why choose AuthBridge for executive screening?
Leading executive screening provider AuthBridge provides expert and discreet solutions with AuthLead™, which is a specialized and exhaustive leadership due diligence solution. Going beyond the usual checks, AuthLead™ involves in-depth scanning of professional skills, gathering of industry perception and feedback from references. AuthLead™ can successfully validate the facts presented in the resume through multiple checks on media and web repositories.
AuthLead™ is a technology-enabled solution that helps in quick and real-time gathering of all-around perceptions through interviews with vendors, superiors, peers and subordinates of the candidate. It can also effectively identify red flags if any with respect to the candidate’s track record, integrity or ethical practices. AuthLead™ not only speeds up the process of executive screening, but also succeeds in maintaining utmost confidentiality and ensures timely disposal of collected data.