In 2023, according to APEC, 1 in 4 companies had to abandon an ongoing executive recruitment process. In nearly 40% of cases, the candidates themselves withdrew! This was mainly due to a poor experience during the process. Such failures can have significant impacts on the company: wasted time and energy for the teams involved in the recruitment, the cost of an unsuccessful search, disorganization, and project delays. Fortunately, these risks can be significantly reduced by adopting a few best practices.
Executives: A Profile with Specific Expectations
It’s important to understand the current state of the job market. Executives, for good reason, can afford to be demanding: the unemployment rate for this group is around 3.5%, much lower than that of the general workforce. As a result, most of them are employed and rarely actively job-seeking. While they may be open to new opportunities, they are also aware of the advantages they hold due to talent shortages and the strained labor market.
In this context, a fundamental principle emerges: the need to pay close attention to the candidate’s expectations. It’s not just about ensuring that their professional profile aligns with the company’s needs, but also about aligning their aspirations with what the company can offer. Understanding their motivation and professional goals is an essential prerequisite. Adopting this listening posture enables a tailored and personalized approach to attract them.
It’s also crucial to recognize that beyond employer branding, salary, and the roles and responsibilities on offer, executive expectations—along with those of senior executives—have evolved in recent years due to significant trends, such as the shift toward more flexible work modes and the increasing importance of social and environmental values. Companies looking to recruit must be ready to discuss these topics with candidates and clearly explain their initiatives in these areas. Otherwise, they risk losing the candidates’ interest and commitment during the process.
The Importance of Structuring the Process
To maximize the likelihood of retaining strong candidates throughout the process, the structure must be well-defined.
First, it is crucial to identify the stakeholders involved, clarify their respective roles in the selection process, and ensure alignment on the desired candidate profile and the job description. Unspoken or unidentified discrepancies can be detrimental, or even harmful, if they surface during the recruitment process.
Next, it’s essential to clearly outline the different stages of recruitment to communicate them to candidates, who highly value this visibility. Information about timelines, the number of planned interviews, potential assessments, and the quality of interlocutors should be provided. The more defined and communicated the process, the greater the chances of engaging candidates and seeing the process through to completion.
Careful attention should also be paid to the estimated duration of the selection process. Candidates, including senior executives, often grow frustrated with drawn-out processes (some of which involve up to 12 interviews and two evaluations!). Consolidating certain stages or even organizing joint interviews with multiple stakeholders can help. The goal is to offer candidates a clear and predictable experience, setting the best possible conditions for their engagement.
Transparent and Regular Communication
Maintaining an open dialogue, actively listening, providing regular feedback (positive or otherwise), and being agile and responsive to questions and requests are the behaviors expected of recruiters today.
However, transparency must be mutual. It’s vital to ensure the candidate’s ongoing interest and full commitment throughout the process. While it’s reasonable for a candidate to explore multiple opportunities, recruiters must be informed to avoid last-minute surprises. Similarly, candidates should be encouraged to consider the scenario of receiving a counteroffer from their current employer to minimize surprises at the final recruitment stage. This vigilance must continue even during the notice period to reduce the risk of the candidate backing out.
Lastly, the onboarding phase must also be carefully planned and anticipated. Often overlooked, this step is critical in boosting the candidate’s motivation and reducing the risk of premature resignation. Providing the selected candidate with a well-thought-out integration plan (dedicated workspace, prepared equipment, planned meetings) and assigning a mentor or even a coach is an excellent way to reassure and further engage them.
In 2024, attracting top talent requires organizations not only to offer attractive conditions aligned with professional aspirations but also to demonstrate agility, attentiveness, and alignment with candidates’ expectations regarding their experience. In a persistently tight market where responsiveness and personalized approaches are key, leveraging the advisory expertise of a third-party partner can be a strategic asset for in-house recruiters.
Bruno Fadda, Operations Director for the Executive Search activity of Grant Alexander