Does technology now trump human interaction?
The following article previously appeared in the St. John's Board of Trade, Business News, August / September 2015 issue.
The search has begun for a new leader. Your team wants someone with presence and profile, someone charismatic who is widely revered, and maybe someone who knows their way around a golf course. The wish list is likely long, but is it the best list to ensure “the right fit” for your organization?
If you ask any HR Professional they’ll agree, recruitment and selection can be a time consuming process. Even if you are lucky enough to experience a flood of qualified candidates, you ultimately need to choose a single individual to best fill a role; a challenging task when you consider that studies suggest approximately 40% of leaders will fail within the first 18 months, at a substantial cost to productivity, moral, reputation – and the cost to do it all over again.
Immigration has been talked about a lot lately. It has been cited as a vital ingredient to long-term prosperity in Atlantic Canada in the face of our aging population and shrinking workforce. According to the Ivany Report, Nova Scotia is projected to have 100,000 fewer working age people by 2036 than we did in 2010. That’s nearly a 20% decline in our labour pool. Clearly, a successful immigration program is no longer “nice-to-have”, it’s a must.
Leadership is such a vague concept. When we hear the word we think of charismatic individuals, great generals, engaging politicians, or renowned business people. We generally think of people situated at the top of an organization who attract attention to their accomplishments. And, as of late, the topic of leadership is often discussed in the context of succession and looming leadership gaps.
Boards are as diverse as the organizations they serve. However, there are a number of common challenges boards face including an evolving regulatory environment, increasing role complexity and rising demands for transparency and social responsibility. As the expectations of boards increase, so too does the importance of ensuring that your board is up to the challenge. In our experience, there are six critical steps to building an exemplary board for today’s challenging board rooms.
Like it or not, every company has a brand. In the traditional marketing sense, a brand is what differentiates one good, product or service from another. A name, design and reputation all shape a brand’s image and the public’s understanding of the value proposition. Similarly, employer brand is the look, feel, and reputation of an employer and is what current and prospective employees use to evaluate whether or not your company is an attractive place to work. Often, employer brand goes hand-in-hand with consumer brand - but not always.
In Atlantic Canada a hot topic amongst employers is the difficulty organizations have attracting and retaining top talent. If your business is located in a rural area, that challenge is felt even more acutely. Many of our clients with operations in rural areas site attracting top talent to be there number one challenge.
The role of the search committee in an executive search is critically important. This committee has the responsibility, and often the authority, to make a decision that will shape the institution’s direction and future. Yet many search committees don’t spend the time or get the support they need to ensure that they are fully prepared for the significant responsibility assigned to them.
Based on my experience in working with more than a hundred search committees, here are four tips to help you step-up to your role as a member of the search committee.