This is a case of one-size-fits-all versus tailor made. One-size-fits-all is made with a general idea that a wide range of users will find the product usable – a generic solution. Custom-made, on the other hand, was intended to suit one user in particular, acknowledging the differences and aiming to satisfy specific needs. These terms are usually used to describe clothing but let’s apply the analogy to executive search; think of a candidate that has years of training in a different setting, they could be very good at what they do but their experience is set in a different environment to yours and therefore isn’t a perfect fit. Recruiting them means you have to fine-tune the talent that they acquired elsewhere to your needs.
Finding talent means taking time to customise that talent to your company’s needs and hope that it fits. Companies do this all the time and many times it’s done successfully. But what if there is an option to re-orienting talent to suit your needs? What if you could create your own talent and make sure you don’t have to ‘teach an old dog new tricks’ so to speak?
Here are some benefits that you could reap from creating your own talent:
· It’s cost effective because when you hire an inexperienced person you pay them less than you would an experienced one. With time, the more experienced they become and the more money they help you make, the higher you pay them. So you will rise salaries for work that you have actually seen develop over the years.
· Sometimes it’s easier and faster to train a relatively inexperienced person because they are still malleable enough to soak up new ideas and skills. Of course learning is about attitude but even with the right attitude sometimes it may be difficult for an experienced person to switch gears to suit the rhythm of a new working environment.
· Talent that is created in-house with in-house culture is likely to stay for longer if the employee feels that they are treated well generally. Most people want stability in their lives and they plan a lot of things hoping that they will work at the same company for a long time and grow themselves with their level of responsibility. That feeling of needing to belong is even stronger if the company is the one that taught them everything they know.
· You help alleviate unemployment issues caused by inexperience. Many companies ask for experience when they hire employees. If no one is willing to hire inexperienced candidates how will they ever earn experience? So creating your own talent doesn’t just help you but positively affects the bigger picture.
So it may be worth considering, rather than looking for outside executive appointments, to rather invest in your people from the get go, find managers that are willing to learn and grow, and you never know – they might just turn into executives with a deep knowledge of your company, industry and culture. Take the opportunity to custom-make talent so that the executive understands your brand completely. Once you have created that talent, you don’t just have an employee or executive, you have an asset!