adictoaloshombres: Executive

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Executive Career Coaching: Providing Solutions To Succession Planning Challenges

Keywords:

succession planning,talent management,executive coaching,war on talent, career

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Organizations today are facing several challenges and talent management is one of the greatest. According to a poll conducted by OI Partners, Inc., the number one challenge facing the HR profession is leadership development and succession planning. Attracting, developing, and retaining quality talent is more costly and has a greater impact on the bottom-line than ever before. Retiring baby-boomers, the expectations of Gen X and Gen Y employees, and the new definition of “long-term” employment add up to a drastic shift in the way organizations are managing their talent.

One effective way to overcome these challenges is to implement a succession planning initiative. This proactive approach to ensuring future leadership talent offers many benefits. Studies have shown that organizations with succession planning programs have a higher retention rate of human capital and a reduction in recruitment and compensation costs.

Succession planning has to be more than matching employees with forecasted vacancies. Consideration must be made for the future direction of the organization as well as the direction of the employees intended career path. This ensures that the employee is engaged in the process, committed to the organization, and has a vested interest in the company’s success.

Obstacles to Implementing a Succession Plan

While there are numerous benefits to succession planning, there are also challenges such as limited resources and expertise within the company. Without the assistance of external consultants and coaches, implementing a succession planning initiative can drain an organization’s resources. The most effective programs capitalize on the talent available throughout the company during the implementation phase, however, companies often lack the resources needed for ongoing management. In addition, utilizing external resources provides expertise in succession planning and offers an objective perspective.

Coaching as a Resource

Executive Career Coaching can provide assistance with career management and employee development at the individual level. Using individual coaching and assessments, the coach will guide the employees through the selection of the career path within the organization that best matches their interests and abilities. Once a career path has been chosen, the coach will help the employee prepare for their next promotion.

The career coach can administer assessments such as the DISC, PVQ, and the Enneagram to help the employee gain clarity in the areas of motivators, interests, values and strengths. The feedback obtained from the assessments is essential in creating a career management plan. During the coaching engagement, employees will compare this information along with their experience and education to key leadership positions and determine the strongest fit. This process ensures that employees are matched with the correct positions, reducing the possibility of employee disengagement and turnover at the executive level.

In addition to career pathing, an executive career coach will assist in the creation of development plans. The steps outlined in the development plan will be based on the information gathered during a gap analysis. Comparing the employee’s current level to the experience, skills, and education needed for the next promotion will give the coach and executive a clear picture of where to focus their coaching sessions. Execution of the development plan during the coaching engagement results in promotion readiness.

Benefits of Succession Planning

Identifying and developing strong leaders for future roles is critical to the ongoing success of an organization. Without an effective succession planning program in place, companies will face greater challenges than those incurred during the implementation of a program, including:

• Waging the “War on Talent”
• Fewer leaders prepared to take on new roles
• Obstacles to achieving strategic goals

Attracting and retaining high-potential employees is costly. However, it is not as costly as the turnover of high-potential employees. Studies have shown that superior performers are 50% to 100% more effective than the average performer.

Using these statistics, if an average performer generates $250,000 in new business each year; a superior performer will generate between $375,000 and $500,000 in new business. By developing and promoting the superior performer to a leadership role, they have the potential to increase the productivity of the team. As an example, this leader can increase the revenues of a team generating $2.5M to $5M.

Given the possibility of increased profits, meeting the employee’s desire for career growth is both a financial and strategic advantage.

Because growth and development are benefits highly sought after in a potential employer, organizations with highly publicized succession planning initiatives and career management programs become “employers of choice”, thereby making it easier to attract top talent and reduce turnover.

Most employers are unaware of how much turnover costs them each year or how to reduce this number. Assuming a fifteen percent turnover rate and turnover costs of twenty-five percent of an employee’s annual compensation, an organization with one thousand employees and an average compensation of $50,000 will incur $1,875,000 in costs each year. Given that half of all turnover is avoidable, this organization could save $937,500 each year by investing in employee retention strategies.

The Added Benefits of Using Career Coaching as a Resource for Succession Planning Programs

Utilizing a Career Coach in your succession plan initiative allows leaders and Human Resources to focus on effectively managing and evaluating the program. An external career coach provides a confidential environment where the employees are free to discuss the challenges and opportunities they face in their careers and establish plans to overcome them.

One of the greatest benefits the coach offers is preparing the organization’s existing talent for future leadership roles. They take the organization’s human capital to the next level through the use of assessments, powerful questions, and individual development plans. Promoting from within provides benefits, such as:

• Reduced recruitment costs. The need for external recruiting is lessened for executive level position, which reduces headhunter fees (between 25% and 33% of the candidate’s total compensation) Ex. An executive placed by a headhunter with an annual compensation package of $200,000 would incur fees between $50,000 and $66,666.

• Reduction of executive compensation. According to Towers Perrin, external candidates are generally paid 20% to 30% more than internals that are promoted because externals needs a financial reason to make a career change.

• Promoting internal candidates offers the employer the benefit of knowing their track record, strengths, and their development needs. External candidates, unless personally known, only reveal as much or as little information as they deem appropriate, leaving the organization to rely on the interview process, assessments, and references to complete the picture.

Thriving succession planning initiatives balance the strategic direction of the organization with the career aspirations of its high potential employees. They also rely on external consultants and coaches to provide expertise, an objective perspective and additional resources.

Executives who engage in coaching during the succession program have a clear direction of where they are going and how they are going to get there. In contrast, executives that are not offered coaching are not as well prepared to map out their career path or develop the skills they need for future promotions. Executive career coaching facilitates the process of creating successful careers and developing future leaders.

Choosing An Executive Search Agency

Keywords:

executive recruitment, executive search, executive jobs

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If you’ve recently decided to find your new executives and senior management through an executive search and selection agency, then here’s how to find and evaluate those agencies before you sign up.

There are thousands of recruitment agencies, big and small, but only a minority focus solely on recruiting for executive, senior manager and director-level appointments. If you need to fill important jobs with the best people, you need to select an agency that has access to excellent candidates and the experience to know which applicants will suit your vacancy.

When you approach a recruitment specialist to find senior people for your business, you should ensure that you know exactly what they’re offering, and what experience they have in recruiting the types of candidates you are looking for.

Always shortlist a few agencies before committing yourself. Meeting the consultants and seeing how they work makes it easier to decide which agency you want to work with. Before you meet each agency, you should draw up a list of questions to ask them. For an agency that says it specialises in executive recruitment, you should be asking questions along the following lines:

• What is your experience in executive search and selection?
• How do you source the candidates that you pass to me?
• Do you narrow down the list of candidates before sending them for interview?
• What are your fees, and when do they apply?
• What happens if I employ the candidate and discover they are unsuitable for the job within the first month?

If you have a number of executive appointments to make or you are going to require the services of your executive search and selection company in the long term, then you should be looking for a consultant with whom you can establish a good working relationship. Their understanding of your business helps them to source the most appropriate candidates and also to put forward other good candidates who sign onto their books, giving you an opportunity to talk to them before they get sent to other companies.

Executive recruitment is a competitive sector and you won’t be short of agencies who want your business. But even with all these agencies courting you, you should take the time to establish whether their services will really benefit your business.

Executive Team Building

Description: Executive team building can be effective by utilizing conflict management, critical thinking and problem solving skills. In so doing, problem areas will be improved and the team will be revitalized and motivated towards success.

Keywords:

team building, executive team building

Article Body:

Effective executive team building is essential if your company is going to achieve its full potential. A team is much more than the sum of its parts and even a group of great minds is not destined for success unless they can really learn to work together toward common goals. Although your desired outcome may be to function like a well-oiled machine, the fact is that people are not machine parts. Personality clashes, egos, differences in opinion, simple misunderstandings, and so on make it necessary and worthwhile to spend some time developing the teamwork aspects of working together, and helping everyone understand their important role within the team structure.

While the rules that govern working together may seem like common sense, and very often are, it is nonetheless too easy for a group of people to fall into patterns of behavior that are not conducive to the common goal. Individuals may feel like they are working at odds against one another, or simply not know how to coordinate their efforts. Communication breaks down, and with it, the company’s productivity. Very often the best solution is to bring in someone from the outside, which can provide an objective point of view and help get everyone back on track. This is precisely why there are so many consulting firms today specializing in executive team building, organizational assessments, corporate culture, and the many related issues.

If your team needs a little assistance getting refocused and made more cohesive as a unit, there are many consultative products and services available, and many of them emphasize an atmosphere of fun and creativity. There are lots of entertaining ways to practice the fundamentals of good teamwork, and strengthen your team’s abilities to communicate and work together effectively. Conflict management, critical thinking, problem solving, and other items can be covered to address or improve any problem areas your group is encountering, as well as generally revitalize and motivate your team.

Executive team building is one way to make the most of your most valuable resources – your people. Reducing staff turnover and job related stress, and improving productivity and job satisfaction are just a small sample of the rewards you will reap by putting the necessary time into building your team. Explore some of the services available in your area, and look forward to having some fun together. Remember, team building is an investment in your future, as well as a method of dealing with problems from the past. A good consultant should have a range of activities and exercises that can be tailored to meet your unique needs, and have you and your team back on the road to new levels of success in no time

Employing an Executive Dashboard

Learn how to use an executive dashboard.

Keywords:

executive dashboard, management dashboard

Article Body:

Every business is looking for a competitive advantage over their competitors. Many businesses derive their competitive advantage from the method they employ to process and analyze their information. We live in an era of information. It seems there is no such thing as too much information. Whether this is true or not businesses are forced to find efficient ways to present the data they have stored on their servers. Many successful and cutting edge companies rely on executive dashboards to present their data in a meaningful and organized manner.

You might ask what exactly an executive dashboard is. That is a great question and fortunately the answer is not to difficult. We all have a pretty good idea of what a dashboard is. Anyone who drives a vehicle benefits from a dashboard. In a car the dashboard displays all the vital information of the automobile. It tells you your speed, fuel status, engine temperature, rpm’s, and many more essential vitals related to your car. In the business setting executive dashboards offer the same sort of insight into the vitals of business.

Executive dashboards, sometimes known as a management dashboard, provide a brief yet powerful view into the health of your company. A management dashboard can be used to display almost any information a business executive could want to know about his company. Dashboards have the capability to present information inputted from excel spreadsheets.

An executive dashboard adds value to your business by presenting the information in a visually stimulating manner. You no longer have to browse through rows and columns of data to identify positive and negative trends. Now you can input all your sales information into the executive dashboard, and view the information as graphs and charts which are easy to interpret. This method of delivering information facilitates efficiency and decision making within companies. Because the executive dashboard provides unprecedented ease of use and flexibility the value they bring to the table proves invaluable.

The amount of information an executive dashboard can present is amazing. You name it the dashboard can display it. Executive dashboards are typically scaled to accept data on sales, inventory, expenses, balance sheet items, income statements, and much more. The dashboard software proves to be quite flexible and scalable to the needs of any business.

To be competitive as a business you must at the very least keep pace with your competition. Tools like executive dashboards can be valuable enough to push your company to the front of the race. A management dashboard offers such a wealth of information and myriad of benefits that it can hardly be ignored. If you are considering taking your business to the next level and are looking for an advantage to help you succeed, then you need to look into executive dashboards right away. No other business tool can present the information you need to analyze the data in quite the same way an executive dashboard can.

Executive Search For Busy People

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What does executive search mean? On what caliber should a person be considered capable of executive level responsibility? Some worthy skills to be capable of are time management, people skills, creativity, budgeting, conflict management, and organization.

When selecting possible employees and managers, the head of a company will search for varying levels of executive responsibilities in an individual. However, the test of good character can be easily determined by the stress content in a given situation. Although every hiring person will be looking for an able minded and bodied person to do the job, it is how the executive manages himself and his time that will determine if his quality of life will exceed his initial foot in the door.

Time management, for example, is simply deciding how to spend the precious hours of the day. Priority and logic are necessary for expediency, which is an excellent and desirable trait to have as an employee.

People skills are another excellent quality to earn more executive power. That skill will help him deal with customers and employees while running a business.

Creativity is producing an innovative solution by exploration to satisfy an existing condition by original means. This quality is absolutely necessary in business because the field is always changing and evolving to fit the demands of everyday life and the market. An executive must be prepared to change with the business environment and make alterations to his corporation to fit changing needs.

Budgeting is the disciplined allocations of funds necessary to keep the company and its employees afloat on the tides of the economy. Any executive needs to understand the relevance of a budget and be able to stick with it and modify it according to business needs.

Conflict management is being able to settle the dispute of two or more parties in a way that satisfies both parties.

And lastly, organization is the handling of business papers, files, records, and personnel effectively and in such a way that is organized. It may be that certain information should not be allowed into the hands of lower level employees, and with the reservation and orientation of paperwork, the structure of the inner handling of a corporation are kept secure.

For your executive search needs, be sure to allow for a period of testing, because as you learn the measure of a person, you may better see to what degree they are indeed qualified for the position.

Executive Resumes 101

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What makes an executive resume “executive”? Is it the format? Is it the content? Or is it the personal marketing strategy? Executive resumes are different in all these areas. Executive resumes are targeted toward a hiring agent that is seeking more than the typical job seeker’s qualifications. The executive behind the resume must meet specific leadership and visionary qualifications that surpass the regular achievement-based resume. Executive resumes must demonstrate success in leadership in past positions, plus outline success strategies that can or will be carried to the next employer. The document that is the executive resume brings all these finer points together into a highly crafted document.

The executive resumes we produce here at GetInterviews.com not only present a top-tier appearance at first glance, but also incorporate the personal branding and sales strategy that is necessary to achieve the executive interview. Our executive resumes communicate the leadership qualities of our clients and demonstrate the vision our clients have for the future – both their own and for their target employers.

Executive resumes must present a “big picture” overview of the executive client’s career path and how in each position, he or she has demonstrated the ability to take the reins and bring the organization into steady growth, new markets, expanded offerings, or new directions. These issues are quite different than the mid-level or entry-level resumes that concentrate primarily on skills and concrete accomplishments.

To produce an effective executive resume that will win interviews (guaranteed), we work with our clients to gain a close understanding of their management style, their goals, and what they feel are the selling points in their career. We then design a communication strategy to use in the resume that will persuade the hiring agent to contact the client for an interview. A resume not only must portray the executive’s professional experience but must also communicate a desire to succeed and an in-depth knowledge of industry.

While many job seekers feel comfortable writing their own resumes, the successful executive understands the value of investing in good marketing – and marketing is what the executive resume does! Most executives do not have the time or the inclination to attempt such a strategic business communication as an executive resume, and therefore “outsource” it to professional career marketing firms such as ours. A recent survey by a well-known executive placement firm found that 86% of executives who make more than $100,000 a year, engage professional career marketing firms such as GetInterviews.com to develop their resumes.

Are you ready to make that investment in your career success? If so, contact us today. We guarantee interviews within 30 days or we will rewrite your executive resume at no charge!

Dos And Don’ts For Executive Job Candidates

Keywords:

executive jobs, executive recruitment, executive search

Article Body:

Like any process, applying and interviewing for a new job carries with it an unspoken set of rules. Competition for top jobs is tough, so you need to be well prepared and avoid the common CV and interview pitfalls that could lose you a lucrative position.

DO . . .

a) Think about how you present yourself

Whether on paper, by email or in person, it’s important that you give a good impression whenever you communicate about the executive appointment you’re interested in. A professional image is critical to your success, and it is something that makes an immediate impact. It may seem unimportant to you, but every bit of contact that an agency or employer has with you informs their eventual decision on whether to offer the job to you or not.

b) Tell the truth

Apparently, we’ve all been tempted to lie about our qualifications or experience. This is always a bad move, particularly if you’re applying for an executive appointment. The company will be investing a reasonable amount of money in your appointment and on your salary, and they won’t be happy if they discover you got the position by being dishonest with them. An honest candidate is much more likely to get the job, and won’t have to worry about keeping up the lies once they start work.

c) Be on time

Lateness should be avoided at all costs. Make sure you leave in plenty of time to get to your place of interview 5-10 minutes early. If you are unavoidably caught up in traffic, make sure you have the company contact details with you so that you can call immediately and explain your situation. Once you get to the interview, don’t spend your time moaning about the delay.

DON’T . . .

a) Be offensive

Applicants for executive appointments are expected to have a certain standard of behaviour. Don’t make the mistake of being too informal with your interviewer, don’t tell rude or offensive jokes, or make comments that the interviewer may find distasteful. Limit your answers and questions to the subject and scope of the interview.

b) Be over-confident

Over-confidence in interviews is often the result of nerves, and an effort to appear self-confident for executive appointments can end up looking like arrogance to the interviewer. Sell yourself by all means, but do it in a manner that shows that you can also work as part of a team and accept ideas and criticism from others.

c) Put too much emphasis on salary

If an employer thinks that you only want the job for the money, you are unlikely to get it. Any talk about salary and benefits should come right at the end of the interview. If you begin by asking about pay and conditions, you run the risk of giving the interviewer the wrong impression. Salary is an important part of all executive appointments, so stick to your guns when negotiating salary, but don’t make it the focal point of the interview.

Executive appointments carry responsibility and agencies and companies are looking for people who have the skills, qualifications and experience. Careful preparation and planning can help you to succeed.

Executive Search Agents Get Results

Keywords:

executive jobs, executive recruitment, executive search

Article Body:

Recruiting a senior manager or director for your business can be expensive. Placing adverts in the right papers and journals is a huge expense in itself. If you’re recruiting at the top level in your business, it may be more cost-effective for you to use an executive search agency.

Did you know that, in some cases, the fee charged by a recruitment agency may actually be less than handling the recruitment in-house? People often turn to an executive search firm when they have had trouble recruiting for a certain position. They may have had a low response to adverts, or discovered that all the CVs that have been sent in are from people who are under qualified or inappropriate for the role. This can be very frustrating, particularly as it is very expensive to place recruitment adverts in the local and national press.

Businesses who don’t have a full-time Human Resources function, or who are too busy to handle top recruitment themselves often outsource to an agency. Whilst it has a cost attached, it removes the majority of the recruitment burden from the company’s internal resources and makes sure that the best candidates are put forward for the job. This use of external expertise is really no different from using a design agency to run a website, or a sanitary company to do the cleaning, and leaves the company’s management free to approach the interview stage fresh and enthusiastic.

Executive recruitment is normally for specialised roles and candidates therefore need to have a very well-defined set of skills and experience. For this reason, businesses are often less concerned with the time taken to employ someone than they are with the quality of the person they eventually hire. This can turn the search and selection process into a long one and managers can go through several sets of candidates before offering the position.

Specialist recruitment agencies come into their own here. Their databases help to search out possible candidates who have the right combination of qualifications, experience and skills, and can even undertake the first round of interviews on the company’s behalf, so that the final list includes only the best candidates available. This outsourcing of basic recruitment functions allows the company to concentrate on running the business and leaves them feeling confident that the candidates that come for interview are all suitable for the job.