Throughout this January in the United States, a media frenzy grew over a lottery called Powerball. Supposedly the largest lottery prize in the world, it grew to a staggering $1.5 billion before finally being won – and shared – by three groups of people this week.
$500 million each! Wow. How’s that for being lucky?
Luck can change everything, as it will the lives of those winners. This also applies to business. Luck can certainly make a difference there too. But it is not repeatable, reliable, consistent or sustainable.
To succeed, an organization must rely on processes that have reliability. These processes must exist throughout the organization.
Recruiting, especially executive recruiting, is perhaps one of the most important areas requiring predictability. An organization’s future success depends upon its ability to attract and retain individuals who will contribute in the manner that is anticipated.
This is only possible by identifying the characteristics or traits required to succeed, then pursuing these in the selection as well as the employee development process.
There are many methods available for an organization to find and attract employees. The appropriateness of each depends upon the nature and importance of the role. There are some roles where the path of least resistance, and cost, should be followed. It’s an economic decision.
Other positions may be a more significant contributor to an organization’s success. In these, value should be the deciding factor. An ineffective hire will “cost” an organization many times the cost of their recruitment.
Retained search for years has offered organizations the ability to reduce their risk by relying on a proven process to identify and recruit key employees. Assessments have effectively given a more in-depth understanding of individuals; seeing how well they “fit.” Coaching has helped individuals maximize their potential.
Current studies indicate the job market continues to improve, which makes it more difficult to hire and retain those employees that organizations want.
Are you taking advantage of these proven services to help you build the organization you envision? If not, are you waiting for luck to deliver these individuals to your front door?
That may work. But it certainly is not predictable and, if we go by the performance of lotteries, the chances of success are very, very small.
Retained search services can help you reduce your employee risks.