The Benefits of Hiring Executives From a Project-to-Permanent Basis Part 1
When a full-time executive is needed for the longer-term, one of the best ways to increase your chances of selecting the right executive while still making progress within the company, however, is to bring an executive in on a project basis.
Realistically, there is never a shortage of projects that need to get done. How quickly can an executive assess conditions, put a plan together, and start executing, even without supervisory authority over the team during the project period? Under those conditions, you will know quickly whether there is a fit—or not.
The Crystal Ball of Executive Hiring: The Secret Weapon for Full-Time Hires.
Talk to any CEO, business owner, headhunter, or HR talent manager; the horror stories about hiring the wrong executive are endless. Most executives have similar stories. Nothing is more frustrating than after going through an exhaustive search, interviewing, reference-checking, assessing, extending an offer, negotiating, feeling sure this person is going to do great things in your organization…and ultimately ending up disappointed.
No matter how much research you have done or how good your gut instincts are, it is never easy deciding whether this is the right person to take on a leadership role. The number one question we hear is, “How can I be sure this is the right fit?”
The short answer is, you can’t.
Regardless of the amount of testing, profiling, and interviewing you do, there is no guarantee. Until you work side-by-side with somebody in an organization, you simply don’t know with 100 percent certainty. Whether you have had a string of not-so-good hires, have some initiatives that could use some expert assistance, or are facing a unique set of circumstances (as is often the case), here are a few factors to consider.
The lines are starting to blur more and more between executives who only accept full-time employment offers and those who are independent and work on a contract basis, driven by both executive and organizational needs.
A top-level executive is going to be careful to select the right organization; at this point in a career, the executive’s brand is highly valued, and the success of organizations with which he or she works contributes to that. Stepping in on a shorter-term project basis initially gives the executive a fuller picture of the organization and how he or she may be able to make an impact.
Companies also find such arrangements appealing as well. We have received multiple comments from companies about the caliber of executive talent they were able to attract on a project basis versus what they have been interviewing through other sources.
Come back tomorrow to read part 2.