An Easier Way to Compare Internal and External Executives
It’s hard to know whether to hire from within or go external without first defining best-of-market talent.
That was a recent scenario an executive talent leader at a financial services company found themselves in when trying to hire a Senior Wealth Planning Manager. The team wanted to speak with a broad range of candidates to see whether someone from outside of their organization would better fill a skills gap they had identified. They had specific location criteria which required a relocation to a Mid-Atlantic city and were up against an added challenge due to the bonus payout schedule. Most candidates weren’t willing to move until March or April when performance bonuses typically get distributed, which meant not many were willing to speak to the team 6 months ahead of time.
The talent leader hired SearchEssentials to bring innovative outreach techniques to reach a new pool of external executives. Over nine weeks, we introduced the team to three qualified individuals and helped build a strong pipeline of 75 candidates to connect with for future growth needs. Satisfied that they had met all viable candidates on the market and had a firm understanding on where the bar was for candidate quality, the team felt confident promoting an internal hire to fill the role.
Not only did this save them a search firm fee, but it also allowed them to effectively assess internal versus external talent comprehensively, in a compressed timeframe, without relying on guesswork. When you’re trying to compare candidate qualifications with existing and new talent, it helps to connect with candidates directly to see how skills on paper align with real-life experience. Having the support of SearchEssentials to do the outreach, presentation, and introductions saves your team time and puts you in a better position to understand the talent market as a whole.
Need to compare internal and external executive talent?
