Executive search in a digitally networked era: The need for talent assessment tools in executive search
The McQuaig System provides behavioural assessments to clearly define job positions, select candidates who fit a company’s culture and develop new hires in a way that ensures that they reach their maximum potential.
Epsen Fuller Group, a long-time member of the AESC, uses The McQuaig System as the strategic differentiator in its Performance Based Assessment approach. The approach consists of four phases with concrete outcomes.
PHASE I: Define business opportunity & objectives.
Outcome: consensus and clarity on the candidates’ performance objectives, behavioural attributes required and search strategy.
PHASE II: Execute search strategy.
Outcome: a dynamic search experience that attracts and accurately assesses outstanding candidates.
PHASE III: Talent selection and capture strategy.
Outcome: the top candidate is selected and closed.
PHASE IV: Evaluate search success and ensure accelerated performance.
Outcome: highly rated client and candidate satisfaction, delivering value and exceeding expectations.
By implementing The McQuaig System into their recruitment process, the Epsen Fuller Group helps its clients implement a strategic framework for setting hiring objectives and key metrics. They can identify the behavioural attributes that best define successful candidates, in addition to finding the right cultural fit between candidate and employer at a new level of depth and detail. “Often clients don’t even think of these things until they sit down with us and discuss it. This is the value a client gets from a strong consultant, which they can’t get from LinkedIn,” says Fuller.
The costs associated with a poor hiring decision are high. On average, it costs approximately one-third of a new hire’s annual salary to find an equivalent replacement. These costs increase relative to the level of seniority. In some cases, up to five times the annual salary of the person being replaced which could total in the millions of dollars.
Organisations that are looking to fill strategic or specialized positions would do well to consider the value-add of a retained executive search firm. While candidate databases like LinkedIn can expand recruiter’s reach and enable connections, they cannot identify the right person for the position.
The methodologies applied by executive search firms can define leadership roles, identify and connect with the passive talent who will fit into the company’s culture and contribute significantly to achieving corporate objectives.
To find out more about the McQuaig Psychometric System visit www.mcquaig.co.uk or call 0203 111 9292.