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Article Written by David Grundy - , CEO & co-founder of Invenias
Executive talent acquisition is the highly specialist sourcing of candidates for executive, senior or other highly specialist positions in organisations. These tend to be positions which historically are more difficult to fill, requiring significant time and devoted attention as the person appointed will have a profound impact on the organisation.
In-house executive talent acquisition goes further than just identifying the best talent, it involves an in-depth assessment of internal candidates and a benchmarking exercise externally. It is about the capturing of insight and industry knowledge and using this to build a comprehensive picture of the best talent available both internally, in competitive organisations and across different industries.
Part two of this five part insight series will focus on how an in-house executive talent team can ensure diversity of hires and the opportunities afforded by broadening the focus on diversity.
When reviewing the hiring outcomes achieved by an in-house strategic talent team, diversity is a common bench marking tool. A trend also reflected in the Invenias In-House Executive and Strategic Hiring Trends Report 2016. However, diversity should not simply be viewed as a tick box exercise for recording and comparing hires on the basis of traditional variables such as race, gender, ethnicity and age. The term “diversity” encompasses so much more and should be viewed as an opportunity to capture rich information regarding the personality, experience, education and background of candidates. Expanding the understanding of the term diversity allows an organisation to increase innovation, skill-sets and productivity within a workforce. In addition, organisations that embrace diversity are often viewed more favourably by candidates and future clients.
In addressing diversity, there appear to be two separate issues. Firstly, how can you report on and demonstrate the diversity of past hires and secondly, how can you increase diversity of your future hires?
How can you report on and demonstrate the diversity of past hires?
Reporting on diversity will allow comparison of past and future hires. It will provide a benchmark for an in-house strategic talent team and the ability to provide key stakeholders with transparency regarding their performance against an increasingly significant KPI. Of course, the accuracy of any report produced is dependent on the quality of information held. Providing your team with a tool that makes data capture quick and easy, will result in increased user adoption, better data and ultimately better reporting.
How can you increase diversity of your future hires?
Again, data quality is key. Capturing the high value insight and opinion from key stakeholders and from across your organisation will ensure a deeper knowledge and understanding of the best candidates available. This data is perhaps harder to capture but will ensure you are able to identify those that will add real value to your organisation through their personality, experience and aspirations.
The latest technologies allow quick and easy recording of data and mobile working. Furthermore, assessment and scoring of key competencies and ranking of incumbents against potential hires, will ensure a comprehensive view of your talent pool. This enhanced understanding will result in increased diversity of hires and those that will add real strategic value to an organisation.
If you would like to learn more about building a sustainable in-house executive search model, Invenias are hosting a free roundtable breakfast seminar on 1st February 2017. Click here for more information or to register your place.
About Invenias
Organisations such as Expedia, General Atlantic, Royal Bank of Canada, Samsung, Standard & Poor’s, Tesco and Tesla Motors rely on Invenias software to help them identify and recruit the best talent for executive and strategically important positions, to learn more, please request a free, no obligation demo with one of our experienced team.
