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How to screen executive candidates like the pros: 3 tips to get closer to the A-players
Recruiting is still one of the most difficult, highest risk, and time-consuming activities on the agenda for most business leaders today. It is also one with the highest stakes. We see the statistics year-in and year-out on the impact of a bad hire. The U.S. Department of Labor estimates that the cost of a bad hire can equal 30 percent of the employee’s first-year earnings. This cost is magnified exponentially when hiring an executive leader and can total in the hundreds of thousands or millions! If your company is publically traded, hiring the wrong executive could lead to a drop in stock price, the effects of which cannot be overstated... catastrophic.
However, it isn't just the monetary costs that worries senior business and HR leaders. The impact on productivity and morale are equally paramount and can have a much longer reach than simply throwing some money down the drain. So, what is the solution?
Acertitude partner, Geoff Votta, highlights 3 ideas for improving the screening process in “How to Screen Executive Candidates Like the Pros" published on LinkedIn. His insight include:
Process, process, process
Focusing on behaviors