Hiring senior staff can be an expensive, not to mention, disruptive process that can leave you questioning your own skills and assessing your own strengths and weaknesses. You need to hire someone who can complement the rest of your team, not duplicate them. Your senior staff needs to have management skills and an understanding of how the business’ finances work as well as excellent time management and organisation.
Where To Start?
If your company prefers in-house recruitment for senior management and you already have people in mind for the role, it’s essential to first check out their track records and consider how well they will contribute to your business’ long-term objectives. You must also talk with your peers and advisors .
Are there any promising employees among your existing employees who could be groomed into senior staff? Many growing businesses now look at executive search agencies, or headhunters, when it comes to hiring senior management. They often network and use their internal databases in order to find suitable candidates. If you choose to do this, make sure the agency visits your company and has the experience and knowledge of your sector so that they find the right candidate for you.
Next, you can prepare job specifications before commencing the recruitment of your employee. If you are replacing a post, don’t just use the old job description, make sure you review it critically first as priorities change over time and as your business grows. Also consider whether an interim manager would fit your requirements better – this means appointing a senior-level professional to work for a limited period of time, usually on a specific project.
How Much Will It Cost?
A typical recruitment agency asks for a commission of 20-30% of a managers starting salary. Sometimes you also have to pay an initial fee in order to cover any preparation and advertising services hiring for the role may require. This could be anything up to £1,500.
Obviously, salary is a major attraction for senior staff roles, but you may find other benefits you may offer can also be an enticement. You could also look into share options which can be a good incentive for high performance. Introducing shares will also help tie senior management to your business for longer.
Consider hiring senior management on a part-time basis. You may not be able to afford to hire someone full time, but more than likely you will be able to find someone to fill a part-time post. This will also allow you the opportunity to see how your applicant fits into your business and what they contribute to it.
Also make sure you always check references and backgrounds before you make your decision.
What Do You Think?
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