Candidates, Executive Search

4 Mistakes to Avoid in Attracting and Retaining Executive-Level Talent

Scaling is a critical time in the lifecycle of a business. The hires made during this time are key to the successful expansion of any company. However, the complexities of hiring cross-culturally make it such that these roles hold even more importance for European companies looking to expand into the US market. There are key best practices for hiring and retaining talent in your executive search recruitment, but there are also commonly-made mistakes that can be detrimental to the growth of a company.

Recently, Myriam Le Cannellier, co-founder of DSML Executive Recruiting, one of the leading executive search firms in Boston, was invited to speak on this panel hosted by French Tech Boston and the French American Chamber of Commerce New England alongside other industry experts to delineate these 4 faux pas for attracting and hiring talent in today’s candidate-driven market.

Don’t underestimate cultural differences. There are numerous differences in hiring in the US versus in Europe. Executive candidates involved in recruiting for European companies expanding in the USA should be able to span boundaries to bridge geographical, organizational, and cultural gaps. Cross-cultural competence is the top factor that will determine success for these uniquely positioned executives. Partnering with an executive search firms in Boston and Chicago that specialize in cross-cultural recruitment throughout the process can be invaluable in your search for the perfect executive candidate.

Don’t waste candidates’ time. To ensure the maximization of resources, make sure that you know exactly what you are looking for in your next executive hire: this means traits, experience, transferable skills, and more. What will make the ideal executive candidate successful in this role? Consider how this hire will impact the growth of your company and team. Be ready with a clear sense of priority, timeline, and stakeholders to make the best use of your internal team’s, your executive search firm’s, and candidates’ time.

Don’t fail to educate your existing team on the reason for growth & how you’re expanding. To successfully expand your company, your existing team needs to be on board. This doesn’t mean consulting them during every step of the hiring process. What it does mean is transparent communication: what role you’re hiring for, why you’re hiring for it, how the new member will interface and support the rest of the team, and more. Lack of clarity around the deliverables for these positions can cause major havoc in an organization or in an interview process. Further, if your team is properly informed about a new role, they’ll be that much better suited to promote it within their professional networks. According to the U.S. Bureau of Labor and Statistics, 85% of jobs are filled through networking.

Don’t go after candidates if you don’t have an adequate compensation package. In a candidate-driven market, the ball lives in candidates’ courts. If you are not in a position to offer adequate compensation — yes, salary, but even beyond that — strongly consider holding off on hiring for that role. If your offer is sub-par, you will attract sub-par talent. Salary compensation varies greatly in the US and Europe, so you will want to work with an executive search firm knowledgeable about these differences throughout the process.

Be sure to read DSML Executive Search’s 8 best practices for hiring and retaining talent. If you spearhead hiring for a European company expanding into the US and are seeking executive search firms in Boston, Chicago, or throughout the US, contact DSML today.

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