Every business has its top performers, employees known for being the best at their job. They’re the pride of their organizations, and their bosses are likely doing everything they can to keep them happy so they’ll stay put. So how can a competitor looking to beef up its executive roster with top-level talent convince these top performers to jump ship and join the team?
Here’s our list of ways you can benefit from wooing top-level talent, and what not to do.
Keep an Eye Out for Top Talent
The first step is to identify the people you want to recruit and determine how persuadable they are and likely to listen to an offer. Human resources consultants say in-person networking is the most effective way to gather information. Company leaders should take the time to attend industry panels and conferences, for instance, and consider sending their HR team to its own industry conferences where they’ll get to know staff from other firms.
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The ongoing, friendly connections you and your team make at these events can help you develop a pipeline of information about top executives who might be less fulfilled in their current positions than they appear.
Once you’ve zeroed in on an executive who might be ready to make a move and whom you believe would enhance your company, there’s nothing wrong with a low-key phone call to the target to gauge their level of interest and suggest further conversation. A phone call is always better than a text or email in this scenario.
Set Your Company Apart from Competitors
Attracting industry stars requires more than offering generous compensation packages and benefits—presumably, they’re already getting these at their current firm. You’ll need to meet that standard and go one better.
For many executives, an exciting product and a great workplace culture are top priorities. To ensure your company has a reputation for both, ask your executive team to create a compelling vision of the company’s superior work experience and align your talent recruiting and corporate marketing departments.
Once the messaging about your company’s identity is clear, HR consultants suggest integrating messages about your company culture into your public relations efforts. One of the best examples of successful employee-targeted branding might be IBM’s famous “I bleed blue” slogan, which signifies the degree of loyalty and connection IBM employees have long felt to their workplace.
See Our Active Searches: Gertsburg Licata is seeking professionals in a variety of industries.
Opposition Research
Once the exclusive domain of political campaigns, opposition research is now an established tool in corporate settings. But unlike the sometimes sordid (and possibly illegal) activities associated with political-opposition research, corporate oppo research generally involves tracking and compiling information about major competitors.
Most of the information is available online, in social media and on news and discussion sites. Using this information, you can create a chart comparing the attractions of competitor firms with your own.
Hiring partners can benefit from the comparison by discovering the areas where their company lags. Your recruitment team can use the chart to point out to potential new hires the areas in which your firm outshines others.
To dispel any concerns that venturing into oppo research might harm your company’s reputation, consult the rules other companies have laid out for this kind of activity and adopt those that fit your company’s profile and needs. Be sure to include clear policies on ethical standards—and stick to them.
Beyond opposition research, companies can proactively adjust their company culture to align with the latest best practices. For example, a recent Society for Human Resource Management study found that 75 percent of workers currently consider flexible work hours a job requirement, not an extra benefit to be offered at company discretion. Employee success is now measured in terms of outcomes rather than the number of hours logged at the office.
Backlash from Competitors
There’s nothing illegal about luring talent away from a competitor, but not everyone accepts it as part of the business landscape. Even the most subtle wooing can evoke a harsh response from industry peers once it becomes known.
While the poached-from company has no legal recourse against the alleged poacher, recruiters should bear in mind from the start that there may be contractual constraints on the new recruit:
- Most employment agreements contain clauses forbidding employees from sharing trade secrets with outsiders.
- Many agreements also feature non-compete agreements, though their enforceability varies from state to state. Currently, non-compete agreements are unenforceable in California, North Dakota, the District of Columbia, and Oklahoma.
- Many employment agreements routinely include non-solicitation clauses forbidding former employees from hiring away any of their former colleagues for at least a year after leaving the company. The enforceability of such clauses has yet to be widely tested.
After the Hire
Once you’ve succeeded in wooing a star from another employer, you’ll want to take steps to retain them—along with your existing stars, who may be potential targets for your competitors. HR consultants offer these tips for keeping upper-level executives happy:
- Create an open, supportive work environment where employees feel comfortable sharing ideas and receiving feedback on them
- Offer attractive incentives beyond salary, such as 401(k) matching and flexible paid time off;
- Sponsor fun off-site activities for your employees, such as buying a bloc of tickets to a baseball game or inviting them to an annual family day at an amusement park;
- Offer end-of-year bonuses or added vacation days.
Gertsburg Licata Talent is a dedicated executive search firm. Our team can help you secure your next competitive advantage by partnering with you to build your ideal management team. Call us at 216-573-6000 or contact us here.
Tiffany Sacasas is the executive recruiter of Gertsburg Licata Talent. She can be reached at [email protected] or (216) 435-5800.
Gertsburg Licata is a full-service, strategic growth firm, specializing in business law, M&A advisory and executive talent solutions for entrepreneurs and executives of start-up and middle-market enterprises. Our proven process ensures time and resources are dedicated to identifying the goals of your organization and how your executive talent needs align with that vision. Our expert recruiters partner with you to build your dream management team, securing the best talent to help drive value for your employees and customers. Contact us today to discuss how we can help you secure your next competitive advantage.
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