Most companies spend ample time and resources trying to attract customers from the competition and increase their own market share. It’s only natural that they’d also want to hire away top talent. But if this is your recruiting strategy, does it truly offer the greatest return on investment? As experienced executive recruiters in Northern California, Pacific ExecSearch can tell you that the truth is: it may not. Here’s a look at a few myths about hiring executive level talent away from your competition – and the facts behind the fiction.
Myth #1: The executive will be able to hit the ground running.
Too often, newly hired executives are expected to become productive immediately and learn about a company’s policies, cultures and practices on their own. But this can lead to errors and misinterpretation. Regardless of their level of experience, skill and expertise – or if they came from a similar company, every executive needs time to get acclimated to their new role and their new employer.
Myth #2: Our industry is complicated so we have to hire from the competition.
Every industry has its nuances and challenges. The fact of the matter is that someone from outside your industry – with a diverse background – may be able to offer more value and perspective than someone from within it. When hiring, don’t close the door on candidates who aren’t currently working in your industry. Remember, leadership skills are transferable.
Myth #3: A candidate from the competition will be able to bring over new customers.
Most customers don’t like change. So just because you hired away the sales director from your top competitor, that doesn’t mean all of his or her customers are going to come along with them. In addition, keep in mind the fact that many companies take great strides to protect their customer lists. If you try to poach them, you could wind up getting sued for breaching a non-compete agreement.
When you need to hire executive level talent, rather than focusing on your competition, develop a profile of the type of candidate you’re looking for. Then recruit and interview based on those details. Taking this approach will help you find the right leader for your team, regardless of whether they work for the competition or not.
If you need help with the process, call Pacific ExecSearch. As top executive recruiters in Northern California, we leverage decades of experience and proven recruiting strategies to uncover leaders with skill and a vision for success. To learn more about how we can help your organization, please contact us today.