Have you ever dealt with this shock? One of your key employees — maybe even your business partner — comes into your office and closes the door. He or she has something to tell you. They are leaving the company. You didn’t see it coming. You’re in shock.
This storyline might sound familiar: an important manager or a highly specialized professional at your company submitted his/her formal resignation. The resignation was totally unexpected and as a result, your timeline for finding a replacement for a critical role is very short.
Maybe you work already with some kind of Internal Talent Pipeline, using Career Programs, Talent Assessments etc., which will provide internal candidates through a succession planning. And of course, there are many good arguments for internal hiring. Current employees will know your company mission and culture and you usually will know them. You can drive higher employee performance if there is a promise of growth and promotion. By using the results of performance evaluations and assessments, it is also possible to anticipate with training and mentoring programs to the future role. Offering real promotion possibilities to the actual employees is also an important motivation and retaining tool.
Creating a Talent Pipeline for key positions can offer the right solution in this kind of situations, if there are internal candidates who are qualified to assume open positions that have been vacated through a job switch, retirement, promotion or which are newly created.
But is there always the possibility to cover the key position internally?
Probably not. There is not always a high potential talent at the company available that will be ready in time and to force an internal promotion, can cause failure. Another aspect is the fear for “corporate inbreeding”. This essentially means that companies are not bringing in much outside talent into the company. Companies can get into a bad habit of only looking internally for managerial positions and the lack of “fresh air” and the company can get too inward-looking.
From re-active to pro-active executive recruitment
Sedna´s Key Continuity Management (KC Management) can bring solutions by identifying pro-actively potential candidates at other companies for crucial roles. Besides gaining time that an external search process will take, in addition it constantly will give your company very useful market information.
Key Continuity Management is about foresight: about engaging now with the people who will run your business in the future. Contracting KC Management ensures you that roles will not go unfilled for long periods or that people are not promoted before they are ready. It is a strategic approach to recruitment and needs careful planning but when you get it right, it can shorten the time it takes to make a replacement and enhance your chances of finding the best people. Sedna can help you with that.
We offer this special new service of KC Management applying the following steps:
2.Then we look if there are internal “back up” for each position and if there is a need to identify potential external candidates who can cover the key persons at your organisation in the nearby future.
3.If you have a need to identify external key employees by our research team, we will establish a collaboration based on fixed annual fee and an agreed additional fee if you finally contract an identified candidate.
4.All the new contracted candidates by your company will be guaranteed during a year and the service will be supported by a coach of Sedna offering a special onboarding program (Rapid Impact Coaching).
Besides of the proactive recruitment focus instead of reactive recruitment one where you really have the opportunity to anticipate to the future, KC Management from Sedna gives you also much more flexibility as you can compare internal candidates with external ones and the opportunity to look for more strategic recruitment solutions.
Sedna assures with this unique new service the Continuity of the Key Management at your company.
For more information, feel free to contact us at:
Martin Poppe, Founder and Managing Partner, Sedna Executive Search, 22nd January 2020.