How Employers Are Competing For Executive Talent
Executive talent is always at a premium. Because the value of any company is directly tied to the quality of its leadership, companies always need executives and upper management who know the ins and outs of corporate operations. In the face of changing technologies, changing global markets and even just the intricacies of national economy fluctuations, companies more than ever need strong executives and management who can guide a company effectively. Executives who are in career transition, or those who are simply looking to make a move to a fresher career or a better position, may find that companies are in competition for their services and may be willing to go to greater lengths to recruit them and compensate them well in order to bring them on board.
In the past, some corporations have needed top executives so badly that they were willing to engage in near acts of corporate piracy, raiding a company and enticing all the upper-level management or executives to leave and come work for them. Currently, big corporations, in order to attract top executives, are offering attractive signing bonuses right off the bat, as well as competitive salaries. Other perks meant to draw in executives include guaranteed first year bonuses, as well as some offering guaranteed bonuses for subsequent years, and stock options. The most obvious and stable means by which corporations are raising the stakes to attract top executives is higher salaries. Other smaller perks that some corporations may consider are club memberships, access to the corporate fleet of cars, as well as lavish travel reimbursement.
While serious corporate raids don't happen every day, many corporations are taking a very pro-active approach to find the right executives. No longer content to just rely on word of mouth or traditional advertisement, recruiters are taking matters into their own hands and are searching online to find their ideal candidate. Job sites with resumes and online business interaction sites attract recruiters. Many corporations also use executive headhunter services, where connected individuals with personal relationships with qualified executives can find the perfect person for the job.
Top corporations are not the only companies in competition for talented executives. Federal agencies, which may not be able to offer the salaries that privately held or public corporations may bring to the table, are taking measures to attract executives. Federal employers are searching for ways to make themselves more attractive in the job market. Many agencies are streamlining their hiring practices to make the path seeking federal employment less labyrinthine while emphasizing the level of job stability within federal jobs that may be less available in public sector executive positions. Additionally, savvy executives may see these less lucrative positions as incredible stepping-stones to better positions. Former military and Department of Defense executives are in high demand with public recruiters. A public sector executive position acquired through a streamlined hiring process can definitely lead to better jobs, and while this is not an idea that the federal government encourages when hiring executives, it is a tacit enticement to work for them.
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