When you’re involved in an executive recruitment drive for your retail business, you want to get it right. A wrong hire can do significant damage to your business’ finances and reputation.
Research has shown that bad middle manager hires can cost a business £132,000. The loss from an unsuitable executive hire is likely to be much higher. In addition, just under half of organisations have admitted to making bad hiring decisions.
So, use these secrets below to guide your next retail executive recruitment drive.
1. Hire for culture, not experience or qualifications
Experience and qualifications might look impressive, but if the cultural values of a candidate are a mismatch for your organisation, hiring them could cause real damage to your brand. Ask your candidates for examples of when they’ve demonstrated your organisation’s cultural values and expectations.
Don’t just look for examples of good cultural fit. Also look for times when the candidates haven’t shown they hold the same values as you and your company.
2. Have a meal with the candidates
When you hire an executive, it’s likely that you’ll be spending a lot of time with them. Therefore, you must get on with them on a personal, as well as a professional, level. One way to determine this is to sit down and have a meal with them, whether it’s breakfast, lunch or dinner.
Use this time to get to know them personally and to find out what direction they want to take their career in.
3. Look for drive
If someone wants to succeed in your business, they’ve got to have the drive to achieve. You can’t fault a person for being ambitious but you can if they want to keep the status quo. Look for someone who wants to achieve a lot in their time with your business and has ideas about how they can achieve it.
Some of what they say might not be relevant or possible, but you can train and point them in different directions. It is the hunger to be successful that you need.
4. Ask if they have side projects
The best executives in any business can’t sit still. They’ve always got a project on the go. If you want to hire a great retail executive, they should have a side project. It could be anything from charity work to a small online business or a blog they run.
These side projects demonstrate how hard they work, but they also show how talented the candidate is.
5. Gain skills
A good new hire will want to move the company forward and they can only do that by bringing in new ideas and by teaching others within the organisation. And the first person that they should be teaching is you.
If you’re able to hire someone who can teach you new ways to manage your business, you’ll have a better hire and company.
6. Trust your instincts
Our instincts have evolved over thousands of years to tell us when something is good and when something is not. If you’re a good business leader, you’ve probably got great instincts. These intuitions can be vital in the hiring process.
Even if HR and others in your organisation are telling you that the candidate is right, don’t hire them if you think something is wrong. Trust in your own intuition, more than data.
7. It’s who you know
Some of the most successful hires in history have happened because someone in the organisation has known an appropriate candidate. Therefore, reach out to those on your board about who they think might make a good executive and speak to recruiters.
The more people you have involved in your executive recruitment drive, the better the results.
Don’t forget that the next retail executive you hire in your retail firm could make or break your brand. Use the tips above to identify those that have the potential to be successful in your business and find that one executive that won’t let you down.