By definition, talent is in the eye of the beholder. Successfully finding top talent is not a roll of the dice or gut instinct. What it should be is a combination of carefully defined organization requirements matched to the available market of talented candidates.
Whatever the definition, top talent increases an organization's success. In a recent study by McKinsey & Co., War for Talent, hiring high performance employees at top levels of management increased profits by 49 percent. Identifying talent, therefore, is crucial to your competitive edge and will allow your organization to forge ahead to attain the next level of organizational effectiveness.
When hiring a key executive, ask these questions: Do we have the time and expertise needed to search out candidates, network for the best in the business and follow up with multiple prospects? Do we have time to sell top candidates on why the organization is the best cultural match to their skill set? Do we need an outside expert to bring integrity to the process? Most importantly are we critical enough of ourselves to consider candidates that take us beyond where we normally venture?
If your organization needs independent insight or can’t devote the time and expertise, a search firm could be your personal “talent scout.” They furnish a value-added link to the talent world and have an extensive network of unrivaled contacts. In today's environment of Web sites and cyber technology, local and regional firms can conduct national and global searches with the click of a mouse. Small boutique firms have the same advantages as the larger firms – so bigger isn't necessarily better.
When choosing a search firm, concentrate on their process including how they build your position profile, how they determine an organization's culture and the resources devoted to advocate on your behalf. Once a candidate is identified, do they assess candidates using personality and leadership instruments understanding what constitutes success in your organization? Finally, do they negotiate the final offer, which is when many searches fail?
So don't leave your talent search to chance and don't hire an average candidate – hire a talent scout trained to find the best match for your organization.