Recruitment Return On Investment - Increase It!
Your team has to look inward before it looks outward
Reprinted with permission from the Ottawa Business Journal
David Perry and Anita Martel may be in the head-hunting business, but the title of “executive recruiter” is a poor fit. “Management consultant” is a more accurate descriptor of the work they do at Perry-Martel International.
Why? Because achieving a successful management hire in today’s market takes a lot more than circulating a job posting and wading through a slush pile of resumes. That’s not even where the process should start.
According to research published by the Harvard Business Review, fully half of all management and executive hires fail within their first 18 months. The higher you climb the corporate ladder, the more costly these failures become. It could be tens of thousands or hundreds of thousands of dollars per misfire, or more, depending on the size of your organization.
“All the digital tools we have today, the online job boards and the recruitment apps, haven’t changed this,” said Perry. “In fact, they have only accelerated the cycle of churn.”
Over the past 30 years, Perry and Martel have devised their own theories about why this happens, and the practical steps organizations must take to break out of the cycle. Their best practices were documented in Executive Recruiting for Dummies and Hiring Greatness: How to Recruit Your Dream Team and Crush the Competition.