How to Draw in and Keep hold of Executive Expertise

I frequently get the chance to connect with CEOs and management of multi-nationals and SME's about the importance of top talent to their organization. I have arrived at the following findings:

* Accomplished executives are typically excited and pulled in by the possibility of individual growth as opposed to substantial compensation.
* Top talent appeals to other top natural talent - a corporation with talented executives is much more likely to draw in other such prospects.
* It typically happens that a firm full of leading talent will expand quicker, recognised as a market leader and yield more profits than its rivals.

I forecast that the subject of talent engagement will be one of the significant challenges for years to come. The existing and near future supply of talented executives are impacted with expected shifts in population demographics, more astute possible hires, technological innovation and globalisation. Without a method to find talent, improve the abilities of current leaders and expand the number of individuals in the management pipeline, a enterprise is more probable to be unsuccessful.

The labour market place is currently fairly tough in a number of economies and with many industrial sectors having difficulties acquiring appropriate talented executives for vital business tasks, all points to the reality that holding onto talent ought to be a high priority. It is my belief that firms without a very clear methodology for uncovering and keeping talent will overlook opportunities and have a higher chance of failing.

A number of important points to think about in producing a retention strategy:
1. Identify the people who are the most important to hold on to.
2. Understand the environmental 'push and pull' variables that stimulate retention.
3. Produce an employee value proposition for high potential-high value employees and put together systems to carry out this proposition.
4. Talent management is not limited to HR, it is something that every single leader should do and be responsible for.

I am frequently asked if executive search firms are not at the root of corporate retention issues? To be honest, the answer is certainly no. Needless to say if there was total retention in firms then executive search firms would probably not exist, however retention is in fact to our advantage. If recruited individuals speedily move on, sooner or later neither clients nor candidates will take the phone calls of executive search consultants who are incapable, or unable to match up the requirements of the client and or candidate. I am confident that a value-oriented model will outlive and go beyond a transactional model. The executive search consultants who recognize this are the ones that help develop their market sectors.

Being successful in obtaining talented people will lead to recurring business. Search firms who line up their pursuits with their own clients' have a considerably better prospect of being successful in every search, in so doing having a much better chance of repeat business. Effective executive search consultants push both the client and the candidate to make great and at times tough decisions. Without trust this would not be feasible - the emphasis should be on solutions, not just positionings.

As the marketplace for executive talent becomes ever more fluid, as actual and recognized loyalty of the employee to the employer diminishes, organizations without a very clear system for acquiring and keeping talent will miss out on opportunities and in due course be unsuccessful.

Note to Editors: About TRANSEARCH International executive search
TRANSEARCH International executive search firm has representation in most of the major economic centres of the world with 59 offices in 37 countries. TRANSEARCH International was founded in 1982 and is a leading international executive search firm.