Executive Recruitment: How Can Emerging Companies Attract Top Talent?
Posted October 4, 2019 in Articles
For emerging companies, attracting blue chip-quality executives can be critical to achieving strategic and sustainable growth beyond the start-up phase. It can also be critical to attracting venture capital from accredited investors, who often want to see that companies are under the leadership of seasoned executives rather than founders who have limited (if any) experience driving companies to profitability.
Of course, convincing career executives to join your emerging company can be easier said than done. Compensation is one obvious potential issue, but it isn’t the only factor that potential CEOs, CFO, and COOs will consider. Career executives want to know that they have a legitimate chance of success; and, increasingly company culture and other intangibles are playing central roles in executives’ decisions to join new companies as well.
5 Key Executive Recruiting Considerations for Emerging Companies
Here are five examples of strategies emerging companies can use to attract top executive talent:
1. Proof of Concept
As we mentioned, before joining a company’s leadership, a prospective C-suite executive will need to be convinced that the company is poised for success. No one wants to stand at the helm of a sinking ship – especially when they aren’t responsible for it going down. When courting potential executives, emerging companies must prove that their products and business models have staying power, and they must demonstrate that there is sufficient market demand to support a profitable business.
2. Proof of Commitment
Potential executives will also want to see that the company’s founders are fully committed to the business. If you aren’t committed to doing whatever it takes to see the business succeed, then it is going to be hard to convince anyone that they should join your team – much less someone who could be the public face of the company.
3. Custom-Tailored Leadership Opportunities
In today’s world, companies have access to enough information to offer executive candidates custom-tailored leadership opportunities. What is their leadership style? What changes have they made to companies in the past? By learning as much as you can about the executives you want to target, you can structure your leadership opportunities to suit their individual wants and preferences.
4. Balancing Culture and Professionalism
Top executives want to know that they will be stepping into a professional environment, but they also want to know that the company culture lends itself to attracting – and retaining – top managers and individual contributors. As a result, prior to filling their leadership positions, emerging companies must ensure that their operations are well-suited to the growth that their new executives will expect to achieve over time.
Finally, while landing a well-qualified and highly-experienced is an achievement, emerging companies need to be selective. Just as potential executives will be looking for the right fit, company founders need to focus on finding the right fit as well.
Speak with an Executive Search Consultant at Mithras Investments
Mithras Consulting is a global consulting firm that provides executive search and due diligence services for companies at all stages of growth and development. To speak with one of our consultants about your company’s needs, please call 305-517-7911 or inquire online today.