Hiring the Small Business Executive
How to hire executive-level employees who will help your business grow
By LaRita Heet, Freelance Writer, Journalist, IBT Designer LMH Communications
Great employees – especially leaders – can help a business go from ho-hum to hot in no time. Want to hire the best execs around? Then it’s time to get creative. The best executives are the ones that bring value and a breath of fresh air to the company. And happy employees mean happy customers. Hiring the right executives adds value to your small business by:
1) Helping you run the company (so you can focus on growing the business.
2) Giving you new insights for opportunities and growth strategies you might not have considered.
3) Saving you time, energy, and lots of money (in recruitment and training costs) by hiring the executive you need, and not cutting corners in the process.
Groom your existing employees
It’s hard to believe, but most executives aren’t born with an MBA in one hand and a laptop in the other. In fact, most of them started out near the bottom (or middle) of the employee totem pole, and worked their way up from there. Are there any would-be execs in your staff? If so, it’s never too soon to start grooming them to move up in the company.
Try:
Visit Service Corps of Retired Executives (SCORE) to take a quiz assessing your company’s culture toward grooming employees. For guidance in empowering your employees, visit HRsmart for a demo of their Development & Succession Planning solution.
Hire a recruiting and/or screening company to find and assess candidates
Now that you’re looking for a high-level employee, it’s definitely time to do pre-employment screenings, personality assessments, and background checks. The key employees in your organization should be chosen with special care, and many companies can handle this for you.
Try:
Caliper works with small and large companies to find, match, and screen the best candidates for the key jobs in your company. Their tools, profiles, and other resources are well worth every dime.
Use an online recruiter
Go to an online recruiter or job bank, and find out what they offer the entrepreneur or small business looking for some new talent. Granted, some of the execs will be looking for the enormous paycheck, but others – those who thrive on a challenge and the entrepreneurial journey – just might want to take a gander at what you’re offering.
Try:
Go to Vault’s Targeted Job Boards for talent in specific industries. While you’re there, check out their additional recruiting tools and initiatives – they’re a winning Web site, hands down!
List the positions with professional organizations
To save yourself some money – and aggravation – advertise your job openings with the applicable professional organization for your industry. This will increase your chances of going straight to la crème de la crème.
Try:
Which national and international associations or non-profit organizations govern/oversee your industry? Call them first about reaching their audience, and then ask them to direct you to other relevant organizations. Go online to Directory of Associations for a searchable database of thousands of worldwide associations. One often-overlooked option is the U.S. Chamber of Commerce – this site can lead you to information about your local Chamber.
Pay them according to fair industry standards
Want to attract the top quality talent? Then you must be able to offer them a fair salary for their work with your company. We’re not talking exorbitant – just the best you can do, with increases as your company’s revenues start picking up.
Try:
Go to Salary.com Professional for quick and easy access to compensation data for thousands of positions. Salary.com Professional, available in monthly or annual subscriptions, lets you customize your answers, export data, and more. Want to try it before you buy it? Then go to their Free Trial. For specific regional and industry data, you might consider purchasing one of their many compensation and benefits Survey Reports.
Show them more than the money
If your prospective new exec has offers from one of the top corporations in the country, you’re not going to win in a salary bidding war for that person. But take heart – many high-level employees prefer the perks, anyway: if you offer them such priceless intangibles as “weekends off, guaranteed,” family-friendly policies, performance-based bonuses, the opportunity to make a difference, and the chance for their own personal and professional development, you might just be speaking their language.
Try:
Go to HRTools’ “Motivate, Reward, and Recognize” Toolkit for e-tools, forms, and checklists to use in offering – and continue to provide – flexible and individualized benefits to your executives.
- Hire former executives-turned-moms (for part-time exec work): The best way to find these moms would be through personal recruiting, through your employees, or through professional associations.
- Offer your execs some flexibility: With a national trend toward working from home, and otherwise telecommuting, perhaps you should offer these options to your new exec – say, for one day per week.
- Show and tell: Make sure you give new executives a thorough orientation to the company and its staff before you leave them running the show.
- Go part-time: If a full-time executive is too pricey for your company’s budget, consider hiring a part-timer (for example, a retiree).
