"Focus on the things that don’t change.”
In an article on Inc.com titled “20 Years Ago, Jeff Bezos Said This 1 Thing Separates People Who Achieve Lasting Success from Those Who Don’t,” writer Jeff Haden quotes Bezos as saying: “In our retail business we know that customers want low prices, and I know that is going to be true 10 years from now. They want fast delivery;they want vast selection.” Amazon has reshaped the retail landscape, but that basic premise has not changed.
The same can be said for the increasingly competitive search for talent in an incredibly tight talent marketplace.
“Jeff Bezos’ comment rings true in the search business as well,” says Dan O’Day, a 20-year veteran with Lock Search Group in Vancouver. “Businesses want the same thing today as they did 10 years ago, and 10 years in the future they’ll still want the same things – to attract the right talent, at the right time. Like Amazon, the way they go about it will evolve.”
“Preparation and planning is paramount to attracting the right talent today,” says Frank Joe, another senior member of Lock Search Group who has been a successful small-business owner in addition to his 13 years as a search professional. “Challenges that businesses face today are evolving.”
The growth of the internet and social media has added a separate layer of complexity to search. It’s made access to information much easier, and it has created opportunities, as well as challenges, for employers’brands. Navigating this complex environment is where partnering with the right advisers can help a company succeed.
“For any growing organization, an HR growth plan should be a crucial part of the overall corporate strategic growth plan,” O’Day says. “The leadership or board should be able to refer to a plan and say, ‘We need to be here at this point in time and will need this skill set or experience to ensure success.’” A human resources growth plan allows senior leadership the time it needs to proactively attract the right talent.
Whether it is expected or unexpected turnover of staff, leadership or C-suite executives, ideally a search plan and/or succession plan should be in place in advance. There are many companies that lose a key person in the organization and rush into the replacement process only to find themselves in the same situation a short time later. In some cases, companies haven’t invested the time needed to develop a strong succession plan or human resource crisis management plan that can be leaned on when unexpected turnover happens. Rushing to replace corporate leadership misses a key opportunity to reflect on the position’s responsibility, accountability, success metrics and scope.
“Often what comes out of a solid post-turnover review process is a different position or a different profile,” O’Day says. “It can be an opportunity to trade up, or rework a position to better fit where the company is going.”
A reflection or review process can yield tremendous insight and should contribute to the hiring process.
Questions that should be asked include: Why did the person leave? Are the scope and responsibilities of the role correct? Did the company utilize the right hiring process initially? Are its leaders honest with themselves about the company’s talent needs and abilities to develop the right talent? What does the organization really need this position to deliver?
A great example is an executive search Joe just completed for the president of a well-recognized global brand. The company was proactive, knew it was going to go through this process and planned well in advance.
“We invested a significant amount of time to understand what our client’s culture, goals and visions are,” Joe says. “Many in-depth interviews with internal stakeholders – staff, peers, ownership and board members – were conducted to gain a clear understanding of the position, its evolution and its future. A thorough understanding of the strengths and gaps of individuals surrounding the position was critical in developing a profile that would achieve what they need now and in the future.”
“We’ve seen a significant change over the last few years,” O’Day notes, commenting on the shift toward more senior leadership and executive search in his business. “Lock Search Group has evolved on a national basis, and many of our clients are looking to us as more of a trusted adviser rather than just a third-party search partner.
“We’ve successfully completed over 30 senior positions – VPs, presidents and other executives – over the last 18 months nationally. In virtually every case, the key requirements and goals of our clients were very similar and haven’t changed over time – they want top talent with proven success in the shortest reasonable time frame. The intricacies of each search are what make them all unique and interesting.”
“Many businesses are experiencing the challenges of a very tight, candidate-driven market,” Joe says. “The unemployment rate is low, especially here in B.C. and it is difficult to recruit and retain top talent. Coupled with an aging workforce and other challenges the labour market is faced with globally, businesses need to have a well-defined search strategy, a strong succession plan and a solid retention program.” He adds that this isn’t anything new; it’s just more prevalent today than it was 10 years ago.”
The world has drastically changed over the last 10 years. The internet and technology have had a tremendous impact on many facets of business, changed how people interact socially and created new industries and market segments. The increasing use of artificial intelligence and automated software has created challenges and opportunities to refine global, national and regional search processes.
To learn more about Lock Search Group and its approach, contact Dan O’Day or Frank Joe at 604-669-8806, or visit www.locksearchgroup.com .
