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Trend Watch - Building
Bench Strength |
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News |
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Building
Bench Strength -
Lessons
Learned
In the process of
working as talent scouts for various client
organizations, the consultants at Epsen Fuller
& Associates have learned a number of lessons
about building bench strength:
It is not an exact
science: Some organizations don't
do as much executive development as they should
because of fear that executives will take the
training and walk. "Organizations need to accept
that development is not an exact science," says
Tom Fuller, General Managing Partner. If your
Business Leadership Program can yield over time
roughly 40 percent moving to more senior jobs, 30
percent leaving the organization, and 30 percent
staying in the company, performing important work
at the same level in the organization,
"Organizations need to accept that this is going
to happen," he said. "GE identified seven
successors for Jack Welch. They knew only one
would get the job."
Pay attention to initial
hires: If the company is going to
live with its employees longer, it needs to look
for the leadership qualities from the first
interview. The commitment to development is also a
strong attraction for new candidates. Develop a
"robust selection process," including a behavioral
evaluation based on its leadership model.
Sometimes you
need to hire outside for new
skills: When the Sarbanes-Oxley
Act requirements demanded new
capabilities...
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Recruiting Best
Practices | |
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The Role of Metrics in the
Selection Interview
After devouring a sumptuous feast of
General Tao’s chicken at the Piment Rouge in
downtown Montreal, my fortune cookie read “The
best prophet of the future is the past.”
Talk about food for thought. It occurred
to me that behavior-based interviewing is
supported entirely on this maxim.
However,
any interviewer who relies exclusively on
behavioral questions is denying themselves another
arguably equally powerful technique – the
measurement of previous performance i.e.
performance metrics – also based on the premise
that superior performance is likely to be
repeated.
The questioning of performance
metrics is easy to incorporate into a structured
interview and the job-specific metrics work,
regardless of level or type of position.
The most commonly employed metrics
questions in an interview setting are in the sales
area, where the primary measure of previous
success is the volume of sales per year.
However, most jobs have their own
performance metrics: so it behooves the
interviewer to investigate and establish how the
on-the-job performance will be measured in the job
they are interviewing for, and to use this as a
base for some predictive interview questions.
Each level and
category of job has its own
metrics:
For a CEO the
interview should be seeking quantitative data on
growth, ROI, share value, etc. Some of the most
common HR metrics are employee turnover, benefit
costs per employee, and cost-per-hire. In R&D
you can question the number of patents, number of
development products that made it to market,
time-to-market, and number of designs or
discoveries over a specific period of time.
In a recent search for a Vice President,
Business Development in the Biotech industry, the
critical metric was how many...
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NEW WEBSITE LAUNCHED!
We are pleased to announce the launch
of www.epsenfuller.com.
New content, including interactive client and
candidate information, news, knowledge base, and
reports on industry trends, all of which are
frequently updated to stay current with today's
events, and tomorrow's business needs.
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Announcing
New York City Office
Headquartered in historic, colonial
Morristown, NJ, Epsen Fuller & Associates
recently opened a New York City office. Located
at 230 Park Avenue in the Helmsley Building, the
office is situated in Midtown for easy access
for clients and candidates. “With many of our
clients headquartered in New York City, we
needed to have a stronger presence in the city.
This enables the firm to continue growing by
better serving our clients, which has always
been the foundation of our success" says Thomas
J. Fuller, general managing partner of the firm.
You may contact the New York office at
212-551-1734. |
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Compensation
Views | |
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What Drives
Top Performing
Employees?
Employers and top-performing employees
alike agree that annual incentives are powerful
programs. Top-performing employees said in a
recent survey that annual incentives are more
effective than base salary or stock-based,
long-term incentives in five key areas: motivating
employees to improve their companies’ financial
performance; aligning employees’ goals with those
of the business; aligning employees’ actions with
company culture; making the company an attractive
place to work; and focusing attention on cost
control. |
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Talent Demand
Report | |
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Demand For Executive Talent
Continues To Climb
According to a recent survey of 106
recruiters conducted by ExecuNet, the executive
job search and recruiting network, the demand for
executive talent will continue to climb,
increasing an additional 20 percent in the six
months ahead. If recruiters' expectations continue
to prove accurate, companies will be forced to
devote more attention to recruitment and retention
in 2005 - a shift that will provide executives
with an opportunity to increase their
compensation, according to the study. Data
released by the U.S. Department of Labor earlier
this month showed an unexpectedly high gain of
337,000 jobs in October, which reinforced that
companies are hiring, a trend executive recruiters
have been seeing for much of the year. "We've been
hearing all year from clients that are benefiting
financially from the turnaround in the economy, as
well as from some who are repositioning and taking
advantage of new market opportunities" said Thomas
Fuller, founder and general managing partner of
Epsen Fuller & Associates. "In many cases,
clients are having to offer larger pay packages to
recruit the talent they want as today's candidates
are prepared for strategic compensation
negotiation." |
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The Essence of
Leadership
“Packard’s Law – No company
can grow revenues consistently faster than its ability
to get enough of the right people to implement that
growth and still become a great company” |
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- David Packard, co-founder
of Hewlett Packard Company |
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