How to Increase Value While Avoiding Costly Hiring Mistakes
By Dave Carvajal on September 2, 2016 in Featured, Recruiting
CEOs tend to seriously underestimate the costs of making an executive hire. Aside from the costs of acquisition, the costs of replacing a top executive can run up to 500{f7a32599756963b989bde631f1a44401cc789db6f847c3735c9e8f651be632a4} of annual salary — or upwards of $1,750,000 to fill a leadership role with annual cash compensation of $350k.
What goes into these figures? It depends on the quality of your executive search:
When it comes to your important executive search, the costs add up to one conclusion: get it right the very first time, every time you seek to fill a key leadership role. Dabbling in recruiting without having the expertise to execute well is not worth the risk.
A master headhunter who understands the unique culture and goals of your firm can provide you with a structured methodology and concrete conceptual models to achieve 90{f7a32599756963b989bde631f1a44401cc789db6f847c3735c9e8f651be632a4} or better success rates. CEOs can create massive enterprise value while avoiding costly hiring mistakes.
