Test Your Offer BEFORE You Make It!


Never make a formal offer until every aspect of that offer has been tested and agreed on beforehand. Easy to remember, but hard to fix if you forget. Once you’ve formally extended an offer, you’ve seriously limited your options. The applicant becomes the buyer, the company the seller. Open communication stops dead. Candidates stop thinking about why they want the job and start worrying about why they DON’T want it.

An offer extended while there’s still doubt often gets an “I have to think about it” response. Thinking about an offer is fine – but once you’ve extended it your own flexibility is weakened. It’s much better to have an applicant think about all aspects of an offer BEFORE you formally put it together.

TEST OFFER 1

Here’s another important point: Before you extend a formal offer, you get unbiased information. After, that same attempt to determine a candidate’s interest can come across as harassment, pushiness or over-selling. Contentious salary negotiations become awkward and stressful, because neither party wants to lose face. Deals often fall apart at this point for relatively unimportant reasons.

Start by testing a candidate’s general interest in the position. Ask, “Assuming an attractive offer, do the job and the challenge appeal to you?” This question lets you draw a line between the job and the offer, and gives both parties the chance to address concerns about the job itself. You’ll eliminate a lot of bad fits this way!

Then you can ask, “What would you think if we could put together a package in the range of £_____ to £_____?” You’ll need to go back and forth with the candidate to test the range, but this gets both parties talking in an open manner.

Don’t let the candidate forget about the competition – real or imaginary. Say something like, “Although we’re still seeing other candidates, I believe you’d make a great addition to our team. What do you think about something like £_____?” The threat of competition allows you to be a bit stronger during the negotiating phase, and tends to make the candidate more realistic.

A candidate’s hesitation on any item at this stage means there are probably other issues to be considered. Continue probing. Many objections have to do with lack of information: don’t move forward until you have addressed these concerns to everyone’s satisfaction. Now is the time to make trade-offs and be creative. If you can’t meet a particular need, offer an alternative – a signing bonus instead of a too-high salary, for example. Find out now if this could turn out to be a deal-breaker.

Work on all these points until you come to an agreement – or at least an understanding. You’ll both discover that this give-and-take process is much easier WITHOUT a formal offer on the table. And when all the objections have been addressed in a mutually satisfactory fashion, THEN you’re ready to get to the final offer.

TEST OFFER 2

Trevor Lee

tblee@ceo-worldwide.com

http://www.ceo-worldwide.com

@trevorblee

A Precise C-suite Recruitment Process for the 21st Century.


 

Our mission is to deliver a high-calibre short-list against a client mandate in days (rather than weeks) adapting and improving upon interim provider skills and applying them to BOTH interim and permanent C-suite appointments in a global context.

All for a single, and universally flat, fee 100% contingent on success. 1000 + successful appointments across 70 countries indicates a winning combination of global reach allied to local knowledge.

How: Once mandated a database of candidates is just the start-point. In common with most executive search firms although some of them consider prior short-lists and LinkedIn to be sufficient for this purpose.

Our database – a unique e-platform underpinned by advanced data management metrics – is based on rigorous up-front selection and to successfully complete the process, candidates must match the following profile:

  • Be looking for their next interim management assignment or a permanent executive position

  • Have a proven track record of more than 10 to 15 years as a successful international executive and/or as a serial entrepreneur.

  • Have a reputation for excellence in leadership, enabling them quickly to gain respect and credibility within a team

  • Understand the venture community and have built fast growing organizations

  • Fluency in English (in addition to their mother tongue, if applicable)

  • Have the ability to analyse and model businesses in a very restricted time frame in their area of expertise

All of which are validated prior to consideration for short-listing against a client requirement. Of over 100,000 applying from 180 countries since 2002 just over 16,000 have reached the certified – iCEO – standard.

The identification phase can well end there due to this massive up-front, and on-going, investment in a constantly updated database. However sometimes other activity needs to supplement this activity and for this we use the full range of UC* technology available.

Also in common with others there follows an extensive process to arrive at a final short-list. With global reach (candidates resident in 180 countries) and having local knowledge (in country Client Partners) this will always involve on-line and face to face interchanges between all parties.

In the case of CEO Worldwide the efficiencies of the digitally driven business model deliver cost and productivity savings which are passed down to the ultimate client in the form of flat fees and a much reduced ‘time-to-fulfilment’. This level of transparency and speed of execution is undoubtedly welcomed by all in the C-Suite.

Then, and this I’ve found to be another area of concern in the boardroom – experience and expertise.

CEO Worldwide Client Partners are operationally experienced people understanding the unique international issues and opportunities faced by the client. They in most instances have been managing international expansion, M&A, turn-around, fund raising etc.. In short they are not regular search consultants who, again in general, lack experience in international C-level roles.

* Unified Communication

Trevor Lee

tblee@ceo-worldwide.com

http://www.ceo-worldwide.com

@trevorblee

We provide C-suite services in the field of talent acquisition, development and retention.

CEO LOGO

Hiring Globally Savvy Candidates


Most global companies are looking for leaders who can easily move between countries and cultures, take on assignments abroad, understand disparate markets, and manage diverse teams.

But these leaders aren’t always easy to find.

Start by looking at the candidates in your applicant pool who have lived abroad, and ask them about their backgrounds. Prompt them to assess and discuss the knowledge and skills they acquired through their experience. Did they launch a business or turn a struggling initiative around? What was the nature and depth of the contact they had with the culture and the people? Did they travel there, live and work alone, manage a team and family?

Asking these questions will give you a clearer sense of the candidate’s knowledge of different cultural practices and their ability to understand and communicate with people whose backgrounds differ from their own.

Adapted from “What the Best Cross-Cultural Managers Have in Common,” by Linda Brimm

The above is the passion and purpose of CEO Worldwide

purpose-3

Trevor Lee – EP International

http://www.ep-i.net

http://www.ceo-worldwide.com

@trevorblee

We provide C-suite services in the field of talent acquisition, development and retention.

CEO LOGO

Question Everything #5


why-2

Questioning the traditional Executive Search fee schedule

 

In this connected world let’s start by questioning why executive search fees are calculated – for many local and international practices – as a percentage of the remuneration offered/accepted by the successful candidate. Is this logical? I think not, for why oh why is the fee for hiring in at £200k usually twice as costly at hiring in at £100k? Of course Real Estate Agents – don’t you just love them – work on a similarly outdated mode of charging.

So temptation here, for the less than scrupulous, to the short-listing of applicants with the highest monetary aspirations or even encouraging the favored candidate to make excessive demands. Hence inflating total fees billed to the client. Clients will tell you that this happens all too frequently. Also think here of house price inflation – again just peachy for the agents but for others in the transaction?

A flat and fixed fee not associated with the remuneration offered/accepted is surely the logical solution.

And why do companies readily accept, or otherwise, the fact that most often only 1/3rd of the total fee payable to the search firm is based on success. Q#6 ?

q1

Are ethics and transparency best served with this pricing structure?

So how about a truly DISRUPTIVE PRICING MODEL where the client is required to pay NO retainer, NO short-list fee and all on a non-exclusivity (of instruction) basis? This means NO payment from the client until the successful candidate has been appointed to their temporary or permanent role. And then only a fixed flat sum. To be able to do this for global cross-border appointments is surely where the sector as a whole should be headed. If it’s thought that this can only work for a candidate database matching service or wishful thinking then delivery of a ‘full-service’ global executive search operation is already operating with increasing success for the last decade across 70 countries.

Then just think for a moment how the leading Interim Providers usually manage to fulfill their mandates in just a few days. Think how productive it would be if the time-line – from instruction to appointment – could similarly be reduced for permanent appointments to say three weeks, or less, always provided that the quality of that appointment was assured. Applying much of their excellent methodology to permanent appointments makes perfect sense (to me at least, if not to many in the less than transparent search industry).

This level of transparency and speed of execution will be, and indeed is, undoubtedly welcomed by all in the C-Suite. All made possible by a business model fit for the global digital economy in which we are all now part. ‘Digital’ has enabled these efficiencies with commensurate savings being passed on to the client – well not in all instances. But that’s for another blog on another day.

Are we seeing the old retainer model with the dice loaded in favor of the search firm or is digital disruption a game changer, a leveling of the playing-field with the client treated as an equal partner

What will happen to those that don’t adapt is pure conjecture but I suggest the status quo is not an option.

Trevor Lee

tblee@ceo-worldwide.com

http://www.ceo-worldwide.com

@trevorblee

CEO LOGO

The Ethical and Transparent Way of Working with Head-Hunters


Cross – border executive search is undergoing digital innovation. And in the process it has become evident that many of its historical practices are increasingly unsustainable.

One in particular, and the focus of this post, is the traditional fee structure based on 25%-33% of the remuneration offered to / accepted by the successful candidate.

I contend that it is flawed and illogical.

As an example why oh why is say hiring in at €200k usually twice as costly at hiring in at €100k.

So temptation here, for the less than scrupulous, to the short-listing of applicants with the highest monetary aspirations or even encouraging the favored candidate to make excessive demands. Hence inflating total fees billed to the client.

Ethics and transparency are clearly not best served with this structure.

Beyond that the time to fulfillment seems to me to be inordinately protracted in this connected world. Again the world in which we now conduct our business enables those traditional time scales to be radically reduced.

Logic therefore suggests both flat fees and more rapid times to short-list.

It was therefore that earlier this year and through my global network I began a conversation with the founder of www.CEO-Worldwide.com

I learnt that since 2001 they have completed more than 1,000 international executive searches. And being good at ‘listening’ – to their clients – they have this year introduced a new DISRUPTIVE PRICING MODEL. In short they now offer regional low fixed fees paid 100% on success. So NO retainerNO short-list fee and on a non-exclusivity(of instruction) basis. This means that they provide full contingency with NO payment from the client until the successful candidate has been offered/accepted their temporary or permanent role. All made possible by a business model fit for the global digital economy in which we are all now part.

So HOW MUCH is this flat fee? Well the Europe wide figure is 25,000 Euros.

CEO-Worldwide’s 21st c business model enables them to offer up managers who are prepared for local or cross border interim projects that could turn into full-time positions in one of the 180 countries covered. This from a pool of over 16,100* senior executives worldwide, each with a proven entrepreneurial profile.

* Only 16,100 of the over 100,000 who have to date attempted the rigorous and track proven certification process have actually qualified.

Alongside this is an equally rigorous and innovative selection process prior to short-listing.

If this doesn’t make the proposition the default for those mission critical cross-border appointments then delivering a short-list in 7 to 10 working days and placement in an average three weeks – certainly does. Yes really – 7 to 10 days!

ES 3

Have we seen the end of the old retained model with the dice loaded in favor of the search firm or is digital disruption a game changer and a leveling of the playing-field?

Trevor Lee – EP International

http://www.ep-i.net

http://www.ceo-worldwide.com

@trevorblee

We provide C-suite services in the field of talent acquisition, development and retention.

CEO LOGO

First Impressions – Don’t Get Fooled


Disastrous hires can happen when managers are fooled by first impressions. But how can you get beyond the superficial during a brief interview?

The key is to focus on behaviors rather than traits. For example, if the interviewee describes them-self as a “team player,” do they credit other people when discussing their work? Look beyond what the candidate is saying and focus on how they are they saying it.

Watch for nonverbal cues that signal contempt, superiority, and disrespect: eye contact when speaking to another person but not when listening to them or invading another’s space.

Another telling question: Ask them to describe their least preferred coworker. Listen for whether they reduce the person to a one-word label (e.g., “difficult” or “micro-manager”) or reveal a more complex view of the situation (e.g., “we disagreed about how to get the job done because we were trained in different ways”).

FOOLED

Adapted from “How to Hire Without Getting Fooled by First Impressions,”

by Tanya Menon and Leigh Thompson

Trevor Lee – EP International

http://www.ep-i.net

http://www.ceo-worldwide.com

@trevorblee

We provide C-suite services in the field of talent acquisition, development and retention.

CEO LOGO

Executive Search in a Digital World


Cross – border executive search is undergoing digital innovation. And in the process it has become evident that many of its historical practices are increasingly unsustainable.

One in particular, and the focus of this post, is the traditional fee structure based on 25%-33% of the remuneration offered to / accepted by the successful candidate.

I contend that it is flawed and illogical.

As an example why oh why is say hiring in at €200k usually twice as costly at hiring in at €100k.

So temptation here, for the less than scrupulous, to the short-listing of applicants with the highest monetary aspirations or even encouraging the favored candidate to make excessive demands. Hence inflating total fees billed to the client.

Ethics and transparency are clearly not best served with this structure.

Beyond that the time to fulfillment seems to me to be inordinately protracted in this connected world. Again the world in which we now conduct our business enables those traditional time scales to be radically reduced.

Logic therefore suggests both flat fees and more rapid times to short-list.

It was therefore with great good fortune that I recently ‘started a conversation ‘ with the founder of www.CEO-Worldwide.com

I learnt that since 2001 they have completed more than 1,000 international executive searches. And being good at ‘listening’ – to their clients – they have this year introduced a new DISRUPTIVE PRICING MODEL. In short they now offer regional low fixed fees paid 100% on success. So NO retainerNO short-list fee and on a non-exclusivity(of instruction) basis. This means that they provide full contingency with NO payment from the client until the successful candidate has started their temporary or permanent role. All made possible by a business model fit for the global digital economy in which we are all now part.

So HOW MUCH is this flat fee? Well the Europe wide figure is 25,000 Euros.

CEO-Worldwide’s 21st c business model enables them to offer up managers who are prepared for local or cross border interim projects that could turn into full-time positions in one of the 180 countries covered. This from a pool of over 16,100* senior executives worldwide, each with a proven entrepreneurial profile.

* Only 16,100 of the over 100,000 who have to date attempted the rigorous and track proven certification process have actually qualified.

Alongside this is an equally rigorous and innovative selection process prior to short-listing.

If this doesn’t make the proposition the default for those mission critical cross-border appointments then delivering a short-list in 7 to 10 working days and placement in an average three weeks – certainly does. Yes really – 7 to 10 days!

Unsurprisingly EP International has linked with this great team to provide access to the best cross-border talent at a competitive fixed cost and in a timely ‘no risk’ manner. There is no downside for either candidate or client.

Have we seen the end of the old retained model with the dice loaded in favor of the search firm or is digital disruption a game changer and leveled the playing-field?

Trevor Lee – EP International

http://www.ep-i.net

tblee@ep-i.net

http://www.ceo-worldwide.com

tblee@CEO-Worldwide.com

@trevorblee

We provide C-suite services in the field of talent acquisition, development and retention.