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Tag: Executive


Board of Directors Recruitment

Board of Directors Recruitment – What do innovative companies look for in the selection of a new Board member?

A Board Member is an essential function in navigating a company’s future direction. When recruiting new members for a Board of Directors, the current Board Members desire candidates with fresh ideas and original thinking to be a significant and impactful contributor to the organization. Their uniqueness should have a philosophical alignment with the business, along with a mentality to give back to others in their personal and professional lives.

An innovative intellectual is fundamental to a strategic skillset for the governance of the company with a collaborative mentality. The diversity each individual brings with different life and work experiences help facilitate a well-rounded vision of the organization’s future.

Dedicating time and commitment with the eagerness to participate in meetings and beyond is a necessary attribute in a Board Member. The individual’s flexibility and preparedness are ideal in the board’s progression, immensely when they contribute questions, research, and creativity.

There is so much more to a Board of Directors than just attending meetings. Someone with futuristic views and able to identify trends contribute to being a valuable asset. Tangible attributes are valued when seeking new Board Members; however, intangible characteristics reach beyond tradition and appeal to innovative individuals.

 

 

 

Blended Learning for Executives

Educational leadership can benefit significantly from blended learning by both formal education programs and virtual training. Bringing these two facets to key leaders can prove to be valuable in the development of building relationships, innovative thinking, and employee engagement within the organization.

The paradigm where everyone learns differently could be addressed by offering the opportunity for blended learning, as some excel from in-person institutions and others with webinars or virtual classrooms; bringing both options could provide a foundation that can be embedded in the workplace. Once critical leadership competencies are formed, these new behavioral skillsets can help bridge organizational gaps by building informal connections, fulfilling company goals, and guiding shared visions across all functions.

The combination of individually driven virtual learning and formal educational programs offers executive leadership the tools to provide a better overall workplace atmosphere.

Competitive Retention Strategies: Mortgage Division

New market, new demand!

Ask yourself, what are we doing as a company to retain our talent within our mortgage division?

The mortgage industry is in high demand of employees, as mortgage rates continue to remain under 3%. Due to the urgency of hiring candidates with mortgage operations experience, employers are seeking mortgage leaders to join their organization.  Quality talent is being swept away by other mortgage companies by virtue of monetary base compensation and incentives.

As an organization facing some of these challenges, employers are being creative on compensation structures to incentivize workers.  Incentives offered are hiring bonuses, retention tools tied to compensation, with the ability to work remotely.

If your company is facing the same challenges, reflect on your incentive strategy and retention tools needed to be competitive in a demanding mortgage rate environment.

Chasing the Money or the Opportunity

Should you chase the money or the opportunity? Well first, ask yourself, ‘Is it the right fit?’ Organizations may pay well, but if they have a high turnover rate and don’t fulfill your career goals, it may be in your best interest to really think it through.

This is an internal dilemma that many people go through. Of course, you shouldn’t undervalue yourself monetarily should a job prospect check all your career boxes, but don’t let an opportunity slip away that could benefit your long-term career development. Success can be subjective, and how it is measured and valued differs from person to person.

Some companies do entice candidates with short-term monetary goals, which can burn out employees quickly, causing high turnover within an organization. It may not be in your best interest to weigh opportunities based on compensation alone; career advancement, skill development, and passion should be considered. Chasing short-term benefits could prove unfruitful in the long-run, and you may not want to look back and wish you would’ve done things differently.

The Offer

You’ve reached the final stage in the recruitment process, the offer – After the application and multiple interviews, you landed the job!

Generally, the incentive for candidates to move organizations or positions would allow candidates to seek opportunities that will provide a promotion, ability to be a key contributor within the organization, and an increase in pay structure.

When seeking a new opportunity, the motivation to make a change for a new role should be discussed initially, setting the expectations from the onset. Once an offer is extended and accepted, you have agreed to the terms and negotiation ends. Strive to find a balance to determine if a counteroffer is necessary or if it is about its monetary value or the position. Most often, it is the position job seekers are trying to attain.

Organizations have set wage bands for positions based on market and internal value, from minimum, mid-point, to maximum of the salary range. Various other factors could help offset any wage bands misalignments when pursuing a job offer, including sign-on bonuses, targeted variable (bonus) pay, allowances, paid time off, supplemental retirement plans, and additional benefits.

These are all part of the equation when evaluating your next opportunity!

How to Properly Resign as an Executive

After deciding to forge a new career path, resigning from the current position is naturally one of the next steps. As an executive, the utmost importance falls on how their departure transpires and how it affects the company in the long haul.

Appropriate transparency and confidence will define how any executive leaves their current role. Naturally, as a leader departs, followers begin to raise suspicion. Being confident in the transition without making vague excuses will alleviate that worrisome feeling that may arise in employees. The reasoning behind such change should be professional and future-centric rather than focused on the specific instances that led to the transition.

An in-person announcement to the organization is the best way to break news for any leave. Falling in line with transparency, this method allows current employees the chance to ask questions, witness organizational support and positivity and, most importantly, observe the raw emotion that is paired with any goodbye. No matter the circumstances, good or bad, executives will be able to better gauge the reaction of their team and quash any potential rumors or “this is what I heard” scenarios.

Leaving the company in good standing should be at the forefront of any executive’s mind after deciding to depart from their current role. While two weeks’ notice may be the norm, more time may be needed to ensure adequate measures and plans are in place to set the company up for future success. Whether it be two weeks or two months, a proper go-ahead plan should be established and communicated to support the company that such executive was once a part of.

The Advantages of Job Shadowing

Having the opportunity to shadow senior leadership when beginning a career or transitioning to a new position provides countless benefits, specifically, the resources and skillsets that are available in a shortened timeframe. But, why choose shadowing versus another on-boarding system when welcoming a new employee?

Shadowing is most important when the position is best learned through seeing or doing. The new hire is able to take in a plethora of information that, if trained through a different method, might be overlooked or not mentioned. It provides a “hands-on” approach to a position that may require a “hands-on” mindset.

The ability to learn firsthand from leaders who have forged their own path to success is second to none. The time spent with senior employees opens to the door to understand the ins and outs of the company culture, fine-tune and continue to develop professionally, and gain expert insights into the business. Shadowing also expedites the on-boarding process as new hires begin to acquaint themselves with the business sooner.

Job shadowing provides a behind-the-curtain look at the expectations of job duties, key deliverables needed, and the interactions between coworkers and peers and coworkers and senior management. This provides an excellent chance for senior management to recognize if processes, job descriptions or culture needs to be restructured or reevaluated.

Considerations for the Future

Making a career change can be difficult for anyone. However, the dependence of a transition for an executive weighs on the prospective employer and their future with the company.

Personal growth remains to be the most significant factor an executive considers when considering a career change. With an emphasis placed on continual learning, most executives search for opportunities that allow them to expand their skill set rather than chasing a title advancement.

And like any other searching candidate, executives also rely on the opportunities that the potential company offers. When given a chance to stretch their skills and abilities to new levels, allowing for them to see a significant change, executives are far more willing to shift to that new role than stay complacent in what they know.

Environmental factors come into account during the decision process, too. Is a shift in career going to make a positive impact on work-based culture? Will a transition allow for greater responsibility and oversight of a larger team? How will this position fall into the entirety of the organizational success? These questions all play a factor in an executive deciding whether to make a move or not. This element is mostly dependent on the overall goals of the executive candidate and the current state of their ongoing position.

While direct compensation does not play a significant role in an executive move, the financial stability of the organization does. If the prospective company shows greater return and less risk in company sales, work hours, employee turnover, mergers and acquisitions and competitive advantage compared to their current position, a top-level executive will realize those benefits and make the move into a new career.

 

 

Transitioning to the C-Suite

The ascension to the C-Suite is often paired with redesigned goals and ideas to ensure success in the new role. Fostering a successful transition can bring challenges as aligning others around those specific objectives is not always an easy feat.

To combat these common struggles, it is best to establish a shared vision on company priorities. Aligning the organization to understand and believe in the strategic design of the organization is a critical component to build success when executives are promoted or have accepted  a senior role. By creating an environment where employees buy-in to the vision of the company, executives will work to establish an immediate and long-term impact in the foundation of the organization.

Accepting that the answers are not always clear, and can be a significant learning curve during any transition. Making quick and calculated moves to establish a trustworthy team allows for any executive to begin to influence others with designed support.

Taking all of this into account, nothing can be done without the thought and preparation of self-readiness. By designating the appropriate amount of time to a purposeful tenure, ascending into the C-Suite will be complimented with proven results.

Enhancing Your LinkedIn Profile

LinkedIn remains to be one of the largest professional networking sites today – giving insight into the company and employee dynamic. When searching for a new career, keeping up with your personal LinkedIn profile and building your brand is an important aspect to any job search.

Your LinkedIn profile gives a quick snapshot of your experience and should be carefully constructed to provide recruiters with the most accurate depiction of who you are as an executive.

While an easy field to complete, adding a degree or certification level to the name portion of your profile increases the chances of coming up in recruiting search results. Following your name is the headline – a highly undervalued profile segment that should answer who you are, what you do and how you can help (Forbes, 2017). Consider this to be the most important aspect of your profile as it is, besides your name, the first and possibly, the last thing a recruiter sees.

Your summary should go one step further to engage with recruiters. This portion of your profile is suggested to include a summarization of measurable goals and attention grabbing achievements. It should answer who you are and what you do on a deeper and more intimate level. This field, while engaging, should be concise and effective. Ensure that if anyone stops looking at your profile at this moment, they have a good understanding of your current passions and future goals.

Your experience should be organized in a way that highlights how you handle problem-solution situations. Having quantifiable details that address what the problem was, the steps that were taken and the results achieved will quickly showcase your experiential skill set. As always, it is important to use key words and integrate the skills that were gained in each situation. Your professional experience is a way for recruiters to see if your achievements fit well based on what the company is looking for in a candidate.

By enhancing and articulating these sections of your LinkedIn profile not only will you grab the attention of recruiters and like-minded colleagues but it allows you to continue the professional demeanor that has been established throughout your professional career.