Gerard Stewart Founder and Managing Partner, Lisa Maxwell, recorded a podcast at the start of summer with Scott Wintrip of Wintrip Consulting Group on how to build and maintain a strong staffing leadership team.
Here are a couple of excerpts from the podcast:
Scott: What three common mistakes are leaders making when it comes to building their management teams?
The three biggest mistakes I see companies and private equity boards make when they go to build out their management teams are:
Number one, they make fast decisions. They pick the low hanging fruit because someone is available instead of putting together a thorough process to identify the right leader.
Number two, they’re too narrow in their search and focus on a niche skill set or industry. By doing this, they end up oversimplifying who they should be considering for the position.
And lastly, they include too many executives and it severely elongates and overcomplicates the hiring process. It makes the leadership team look ineffective, and it’s insensitive to the candidates’ time, confidentiality and their positioning coming into the company.
Lisa also shared her concept of the efficient search committee:
Scott: When there’s a case of there being “too many cooks in the kitchen,” or too many executives involved in the search and selection process, what is your recommendation? How many is enough?
The search committee could be as narrow as 3-4 people. So, for example, if a private equity-backed firm is conducting an executive search, there should be one person from the private equity firm, one operating partner from the company, the current CEO and the senior head of talent acquisition – and that’s it.
It’s important that key executives have some involvement, but that it happens later. I recommend going through the search and selection process with the 3-4 key executives I mentioned and once the decision has been narrowed down to one candidate as “the person,” then it’s time to set that person up for success with the senior management team by introducing them to one another. This should happen at the very end.
To listen to the full recording of the conversation, including Lisa’s advice on how to create a target universe to select candidates from as well as her book recommendation to have more focus, go to: www.scottwintrip.com/strong-staffing-leadership.