How to Hire Top Digital Executives
A growing number of media companies have come to the realization that it has never been more important to hire top digital executives. These days, a company’s ability to compete — and even to survive — depends on it. However, the increasing demand for top digital executives is making it harder to recruit them. As a result, companies are turning to traditional retained search firms for help. However, that executive recruiting strategy introduces a significant risk of failure.
Reduce the Risk of Failed Executive Searches
To recruit top digital executives, one must first reduce the risk of failure. On average, 40% of retained executive searches fail to complete. In other words, there’s a good chance — nearly one in two — you will end up without the digital executive you need. That’s a risk companies can ill afford. With retained search engagements costing upwards of $100 thousand, failed searches exact a tremendous financial cost and do even more damage in lost time to market. Delays in recruiting top digital executives can leave a company in perpetual catch-up mode. Companies lose momentum at the very time emergent competitors are growing faster than anyone thought possible. Reduce the risk of failed search by cultivate alternatives to traditional executive search firms.
Seek Innovative Boutique Search firms
Boutique search firms offer advantages over the likes of Spencer Stuart, Heidrick & Struggles, Russell Reynolds, Korn/Ferry and CTPartners. For one thing, boutique firms rarely have issues with client blockage — off-limits agreements that prevent a firm from recruiting from your favorite target companies because they were the firm’s clients. For another, most boutique firms offer concierge quality client care . That is how smaller firms compete with the majors. More important, boutique search firms are freer to innovate smarter-faster-better ways to recruit. Smarter-faster-better is how you recruit top digital executives. To maximize the competitive advantage, look for firms that offer next-generation executive search capabilities.
Next-Gen Search Firm Capabilities
Smarter Executive Search
Seek search partners who develop methods that make recruiting more intelligent. After working as an award-winning investigative journalist, I founded The Good Search when I discovered how lightweight and outdated traditional recruiting research methods were. Research is how search firms identify and develop the candidates that they deliver to their clients. Build a better engine, and you’ve created the ultimate recruiting machine. The Good Search harnesses the power of information to make search smarter. With the amount of data in world doubling every couple of years, recruiting has shifted from a problem of too few candidates to that of too many. Too many unqualified and average candidates get the way of the top performers. As a result, traditional search firms are missing rockstar candidates who are “standing in plain sight” because too many candidates get in the way.
Digital Data Expertise
You need a search firm with serious data expertise — one that is capable of separating the signal from the noise. In my former career as a journalist, I developed a digital speciality in data-driven investigations. There’s a treasure trove of candidate data available outside the resume databases and LinkedIn. That data treasure trove is the key to identifying, calibrating, and recruiting best-of-the-best digital executives. Ultimately, you need more than a social network, a stack of resumes, or a list of candidates names. Your deserve to know who is good. Our data driven approach and expertise, our digital acumen, and investigative abilities make search smarter and give us greater reach. That is how The Good Search consistently deliver top talent clients never knew existed — candidates that traditional firms miss. Ask firms about their use of data to check their digital data expertise.
Look for a search firm that does more than gather information. Today’s search firms must stop to connect the dots and develop actionable intelligence for faster/better hires. The Good Search makes it a practice to capture intelligence and to share the knowledge with our clients. In fact, we hand over all our candidate research, something traditional retained firms never do. Of course, while The Good Search evangelizes methods that are more evolved, we are by no means the only firm with the courage to innovate. But whatever search firm you choose, make sure you select a partner that offers you a competitive advantage through smarter search. Its is the key to hiring rockstar digital executives. The only sensible way to match force with the digital talent shortage is to outsmart it. With smarter search, you really can “Keep Calm and Search On”. In fact, we created the executive search meme to serve as a reminder. In the war for talent, smarter, cooler heads prevail.
In my next post, I will share insights digital transformation culled from a leaked New York Times internal report. The document contains fascinating insights on the digital leadership required to to address perpetual digital disruption.