As you map out new marketing and sales strategies and determine when and where to invest for the highest returns, remember to factor in the addition of new personnel, specifically executive hiring, to help support company growth.
Because of our industry’s unique nature, we’re often forced to “fish from the same pool” — many companies are hiring for the same roles and competition can get intense. To stay ahead of the game, you must be mindful about your hiring strategy and ensure that you’re well-prepared for effective hiring throughout the year.
To help you properly plan for next year’s endeavors, here are a few items to consider when developing your strategy for executive hiring.
Goals/plans As a leader of an organization, I know you’ve been brewing up new ideas and are probably itching to see them through. And knowing just how much the industry is shifting due to technology, the next generations, never-before-seen products and services, etc., you’ve got to be open to bringing on new people that can help you execute on these ideas. Once you determine the goals that your team can start working towards, you can pinpoint what kind of talent you’ll need.
Budget It goes without saying but your budget is usually what sets the parameters for everything else. Consider your cash flow, normal expenditures, cutting any fat, and of course, how to incorporate your new business plans. You know you need to hire the right people, which takes quite some time and effort, so be sure to set aside funds for those specific hires, as well as any potential unplanned hires. Keep this thought in mind: “If you think it’s expensive to hire a professional, wait until you hire an amateur.”
Areas of improvement It’s time to take an honest look in the mirror. What are you doing that isn’t working? What could be done better? You may already ask yourself and your team these questions but dig deep into what can be done more effectively and efficiently, and determine how any changes can be implemented.
Consider bringing in a consultant that can dive into your organization and provide feedback from a third-party perspective. Oftentimes, the discoveries made by this approach end up saving a company from serious future issues.
Geographic expansion This could possibly be on your list of goals, and if so, it needs to be done right. Not only do you need the knowledge of the new market for your company’s products, you also need to be aware of any guidelines and differences compared to your current market(s).
Planning and strategizing the expansion from HQ requires a lot of resources and experts. It also requires having people with their boots on the ground in the new territory. In addition to setting up operations, office spaces and logistics, these people must have a full understanding of the new market inside and out, along with the idiosyncrasies of the industry.
Outsourcing There are times when it just makes sense to partner up and outsource certain tasks. For example, your company’s growing need for customer and distributor support could be resolved by hiring a staffing firm. Since the tasks and nuances are being handled by this team, you can keep your focus on the big picture projects and reduce the chances of things slipping through the cracks. Having a responsive and knowledgeable customer support staff ensures that your customers are receiving the care they deserve and allows you to sleep better at night.
Process, process, process It’s not always easy, but putting processes together and making necessary adjustments to existing processes is crucial for your company to stay on track and grow. If a formalized process doesn’t exist within your hiring strategy, you’re going to feel the pain. And once you start the hiring steps, candidates will quickly notice the speedbumps and inconsistencies, therefore reducing the likelihood of them coming on board with you.
Not everyone has a good sense for executive hiring or hiring in general. Some hiring managers have a better track record than others, so putting a formal process in place helps you ensure you’re not making unnecessary and costly hires.
It’s my sincere hope that all direct selling companies are able to continue impacting lives on a daily basis and truly hold up the integrity of this industry. It’s our responsibility to be intentional with our plans for the future, as they touch so many people. Having the right executive hiring strategy and people in place is essential and gives you better odds of assembling your dream team.
About The Author
As CEO, Sean leads the organization to build lasting relationships with company leaders within the direct selling industry and provide quality service to meet the needs of clients. Sean also likes to spend time outdoors and traveling with his family.