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Choosing the Type of Search Firm Retained, Contingency, or RPO?

Choosing the Type of Search Firm Retained, Contingency, or RPO?

According to Leadership IQ, 46% of new hires will fail within 18 months. The statistics only get worse.  Take a hard look at the expanded facts as presented by Dr. John Sullivan on ERE. About the 6 Ugly Numbers Revealing Recruiting’s Dirty Little Secret.  Choosing the type of search firm to work with is not an easy choice.  It is astonishing but not surprising.  When the agenda is how cheap can recruiting be done, the results are obvious.

Instead of looking deeply at the process a recruitment firm uses to identify, assess, and deliver potential candidates. When filling a key role, the cost of the fees is the first mindset.  What you should be thinking about is the end game – the services offering differentiation and the results.

 

Does the search firm accept verbatim the job spec verbatim?

 

    1. brief overview of the company culture, benefits, and market position. Rather than on the opportunity (USPs) of what this role will do to elevate one’s career. As well as the challenge being offered to entice interest
    2. Job specs focus on responsibilities when the focus should be on short- and long-term objectives with timelines.
    3. Too much emphasis on boiler plate requirements including skills and experience. The focus should be on prior directly related accomplishments & key performance indicators. What the new hire has done and will do with those skills and experiences. Not simply the number of years he/she has had them.

Simple economics is that the supply of good candidates is low while the demand to fill key roles is high.  As such, using job boards or career websites means that only active job seekers. Sadly in today’s market that is most often the underemployed and unemployable.  Because with low unemployment rates, good candidates are very passive.

They don’t look at job postings and they rarely respond to recruiter type emails. Those who are happy with their role, current employer, compensation; as such they are rarely ever looking for a job.  They are open to a challenge, the opportunity (unique selling points), possibly location, product or service, and company size.

 

Does the search firm have a verifiable track record of new hire retention?

 

It seems odd to me that one would not ask for proof of this.  Case in point is I have a direct competitor who is larger than my firm with more offices.  We both have done retained search for the same client.  We have each placed 3 at the C suite and VP levels.  All three of my competitor’s placements departed within 2 years while the three we placed are not only still there at 3.5 years but have been promoted and are meeting or exceeding the objectives for their respective roles.

What makes the difference?  The search process, assessments methodology, using psychometrics and the type of relationship.  My competitor interfaces with and is managed by the client’s HR group while we work directly with Executive Hiring Managers.    One more thing – look at the firm’s replacement guarantee clause.  If it is ranges from 90 days to one year, that tells you they don’t stand behind their work.  At NextGen Global, we stand behind our work with a 24 to 36 months replacement guarantee.

 

Does the search firm use science based methods and AI to identify team dynamics?

 

Let’s go back to that Leadership IQ study where it found that not only do 46% of new hires will fail within 18 months, but at the executive level it is for lack of interpersonal communications skills.  The truth is EACH team is unique.  By creating a composite of the team profile measuring values, motivations, decision-making traits, conflict resolution skills, relational communications traits, leadership and people skills, the recruiter can then compare the potential candidates’ capabilities to make sure they are either a strong or potential match. Choosing the type of search firm as you can see is part science, part experienced based skill set.

 

Choosing the type of search firm based on niche specialty

 

 

Choosing the type of search firm - Retained Search has a Lower Cost

We pride ourselves on being startup experts.  While we do perform retained and succession bench search for one role at a time, over the years we have partnered with an outsourced HR and payroll services firm to offer Team Building talent acquisition management services for startups with less than 25 employees in the initial startup phase.

We save clients hundreds of thousands of dollars while filling key roles they need to meet customer or product/service design and roll-outs. Our work is primarily with startups, mid-cap, and spin-offs.  We rarely recruit for publicly traded companies or companies large than 5k employees.  The reason is simple.

As entrepreneurs ourselves, we understand how VC and PE forms work, we work often with board members in recruiting entrepreneurs, risk-takers, movers and shakers who focus more on the value proposition of equity and generous stock options based on meeting performance objectives. For large companies the latter are generally limited to a select few senior executives.

The larger the company, the less effective we can be as they tend to want their HR or TA group “manage the recruiter” demanding we adapt our search process to conform to theirs. This is what we call “tying one hand behind my back” syndrome.  We turn down companies asking us to do that.  If you are a large conglomerate or have more than 5k employees, it is best to go with a very large firm for most positions.  However, if you are looking for a senior executive or functional leader who is a change agent, a turnaround expert, a solid risk-taking decision maker or motivator, for those roles your best bet is the smaller boutique search firm.

 

Two neat tricks to help you choose

 

  1. Look at the Linkedin connections of the recruiters you are considering. If you need to recruit a senior executive, does the recruiter have those connections with both your industry and with C-levels?  If the need is to recruit a VP of Sales of a Director of Engineering, do they have those relevant connections”?  You’ll be surprised to find most recruiters’ connections are with Human Resources and other recruiters which means they have few relationships with the type of people you seek.
  2. Does the recruiter have intimate knowledge and experience in your industry? Look at articles and posts they’ve written.  If they are all about just recruiting or job seekers instead of Artificial Intelligence, Wireless, or whatever your industry is, how well do you suppose they understand your products, services, marketplace, or customers>

When you consider the cost of retained search look past the initial fee.  Look at the results of the person hired via the firm.  If the new hire assimilates quickly, is immediately productive, and meets or exceeds the objectives of the role, the cost of the search fee is irrelevant.  And remember, good search firm ONLY recruit “A players” who by definition produce 8 to 10 times more than “B players”.  It’s really a no-brainer in the value.

Performance Objectives Focused Recruiting

Performance Objectives Focused Recruiting

Let’s look at defining the Key Performance Indicators or even better defining how performance objectives focused recruiting can be used in the recruitment screening process.  Many hiring managers and recruiters for that matter have a misconception that these are used only after the hire or limited to executive leadership roles.

To understand why performance objectives focused recruiting is effective, let’s look at a why it should be utilized as enhance both job postings and the screening process.  Typical job descriptions delivers poor results, negative advertising, and lousy applicants. Generally they bespeak of a little company branding, responsibilities, requirements to apply, and a brief overview of benefits.

What does work is to use defining the performance objectives focused recruiting in the job description and developing ideal candidate profiling of a position. The issue is most Human Resource departments, corporate recruiters, and external recruiters lack any sense of understanding of how to analyze how a potential candidate may perform or what they will do to meet those defined objectives.

Performance Objectives Focused Recruiting NOT Requisitions

 

Performance Objectives Focused RecruitingOne of the gurus I learned from to define performance objectives focused recruiting is Lou Adler.  Here is a link to his site.  The best description of the SMART techniques come from Lou Adler’s point of view as I believe he states it best.

What do you want the new hire to achieve with “x responsibility”?  Take each required skill and ask what are the objectives of using this skill and how well the candidate may meet those objectives based on accomplishments and similar tasks performed by using SMART techniques.

  1. Specific – details of what needs to be done (task, challenge, project, or problem)?
  2. Measurable – amounts of change / % of change required
  3. Action – what will the person in this role actually do?
  4. Results – what needs to happen to accomplish the major objectives?
  5. Time – how long will it take from start to finish for this objective to be reached?

Once you have defined the near-term performance objectives, move onto the long-term objectives that will bring real added-value to the company.

Candidate Profiling Performance Objectives Focused Recruiting

 

After discovering how to map those objectives you need to develop the ideal candidate profile. Next we will examine how a retained search firm performs these tasks including:

  1. when and who should be involved in defining the team profile (not the corporate profile but the actual team the new hire will work within)
  2. analyzing behavioral traits of ideal candidates measured against the team profile to determine effect of new hore on team dynamics
  3. refining how performance objectives focused recruiting uses team fit and candidate profiling to target and identify the candidates who can meet or exceed the management objectives.

 

Future Cell Site Towers IoT Data, Broadband, Leasing

Future Cell Site Towers IoT Data, Broadband, Leasing

As demands on the Internet continue to grow, an in-depth look at the future cell site towers needs to be addressed, especially with IoT that sees homes become increasingly “smart” with the demand for transmission equipment continuing to grow. How will this growth happen? Where will transmission towers be located? What are the cost factors and are any innovations likely to come online soon? Are cell towers even going to be needed?

The base for everything on the Internet is power. Something must generate the electricity for transmission, whether through fiber optic lines or radio waves. How much power is not even a question as engineers know exactly how much it takes to send any signal any distance through any medium.

The power needs for individual devices, think smartphone, smart thermostat and such, is tiny. However, the power demands for several of these devices increase. Bump that number to the hundreds and thousands and power demands jump a lot. The future cell site towers is that they are going to need a LOT of power to handle that volume of data traffic.

Simply put, a pocket-sized battery will not deliver the volts and amperage needed to receive and transmit signals from more than 1,000 devices. “Cell towers will become obsolete only when Chevy Suburban’s and Ford F-150’s can drive down the Interstate at 70 MPH fully powered by solar panels made in the USA.  The demand for bandwidth is growing faster than the carriers can sell smart phones. Even if they came up with some amazing technology that could replace cell towers, it would easily take 10 years or more to implement.”   Some may point to signal boosters to handle the need for more and stronger transmissions.

More Power

 

Signal boosters require more power. That must come from somewhere. The demand on the already-stressed power grid will just get worse. Individually, the power draw may be minuscule. Added together, it becomes a real issue. A straw broke the camel’s back.   Battery advances over the past 30 years are huge, but battery output is still directly tied to the size of the battery. You can’t run a golf cart on a dozen D-cell flashlight batteries.

FCC Regulation

 

The Federal Communications Commission controls radio wave broadcasts including that done by wireless devices. It regulates signal boosters now. “Malfunctioning, poorly designed, or improperly installed signal boosters can interfere with wireless networks and result in dropped or blocked calls, including emergency and 911 calls,” says an FCC Consumer Guide to signal boosters.  As more and more devices go wireless, the chances for interference are going to grow.

Future Cell Site Towers in Aesthetic Landscapes

 

The demand for towers is not going away. Vertical Consultants tracks cell tower agreements and reports the industry is growing. “So again, if cell towers were about to become obsolete, why would the industry leaders be investing billions of dollars to acquire the rights to your cell tower?  The answer to this situation is that technology is nowhere near close to finding an economic and reliable replacement for the future cell site towers, and your individual site lease has value to the acquiring company!” .

future of cell site towers in the cityHowever, the look and location of these towers is changing. So, a better description for a cell tower is “transmission hub,” or hub for short. Increasingly municipalities are rejecting the look of giant antenna arrays.

The industry is responding. “Cell tower companies like Crown Castle are installing small cells for carriers’ use on light poles, on top of shopping centers and other places where they fit in with the urban scenery. In 2010, Crown Castle acquired New Path Networks, which built the nine-antenna medical center system. Where and what these smaller hubs are might surprise you. Twisted Sifter has a list of these different types of antenna hubs.

These hubs still require space, which means buying or leasing that space. A smaller footprint likely will translate into smaller lease payments, but more hubs also mean more leases. Savvy negotiators are going to win this one.

Future Cell Site Towers gets Creative

 

 

The demands on the wireless networks and high-speed broadband Internet are only going to grow. Consumers have already shown they are willing to pay for the service. Creative thinking will dominate the industry as it moves forward.  ISPs must step up their transmission capabilities. The tower manufacturers are already headed in the right direction with smaller hubs that are not eyesores. With the increase in transmission/reception sites, the demand for real estate to plant these hubs is also going to grow.

Future cell site towers are small hubs, more hubs and hidden hubs are the demands. Companies that make these hubs are in the driver’s seat. They determine the power needs and appearance. Location is going to be set by ISPs or cell companies and real estate owners.

Forward-Looking Interviews Work Best in Recruiting

Forward-Looking Interviews Work Best in Recruiting

The objective is to conduct forward-looking interviews  about what this person would do in short and long term coming on board.  Many recruiters lack depth in screening, interviews, assessments; rarely discover how a candidate will affect team dynamics.

This causes the Hiring Team to waste valuable time in an interview performing screening of candidates’ background and experience.  This tells you that the recruiter failed to do their job.     Which begs the question – exactly WHY and HOW is your recruiter earning a fee?

 

Why do Forward-Looking Interviews Work?

 

forward-looking interviews groupThe recruiter should provide detailed documentation about relevant experience, accomplishments, leadership/staffing abilities, budget/P&L performance, analysis of industry expertise; depth of industry relationships.

For Engineering and Product Management roles, the recruiter needs to document patents and intellectual property development.  In addition, address how they affected product or service R&D, delivery, market impact;  customer / vendor relationships, GTM strategies.

For sales and business development roles it’s all about how did the candidate grow existing or creating new markets, quota vs. actual, average sales volume / sales cycles.

For senior executives the recruiter needs to determine key accomplishments such as turnarounds and growth types; industry leadership by being a major speaker at industry trade shows / conferences and relationships w/ customers, vendors, analysts, and investors.

Doing these allow for the  Board or CXOs to conduct forward-looking interviews.

 

 

Forward-Looking Interviews Get the Best Candidates

 

If the recruiter began the search by identifying the short and long term objectives of the role. everything  else falls into place.   Combine that with scientifically based team profiling and determining a strong team fit.  It is important to know the leadership qualities, relational communications style, decision making traits, selling of ideas or products / services, and conflict resolution skills.  These types of interviews will reveal much more than rehashing what is on a resume.

For an in-depth look at how to utilize proper recruiting methods that will prepare your team to schedule time ONLY the best candidates in forward looking interviews,  please view of download the PDF titled Why Forward-Looking Interviews Work Best in Recruiting.

 

Ai in Nanotechnology for Biomedical Usage

Ai in Nanotechnology for Biomedical Usage

Nanotechnology has been slowly treading into the field of biomedicine for almost a decade now. Owing to the fact that nanotechnology for biomedical usage is still a relatively newer technology surrounded by many ethical debates, its footsteps are a little slow and careful. So what is nanotechnology? As the name would suggest, it is the putting of nanotechnology to medicinal usage and that is where aI – aka artificial intelligence comes to light.

You can put about a thousand nano-particles side by side in the cross-section of a singular hair and disseminate them into the bloodstream to be in motion with the same fluidity as a red blood cell.  Many biomedical scientists and researchers have managed to apply nanotechnology productively. In 2016, a DNA nanorobot was created for targeted drug delivery in cancerous cells. The National Center for Nanoscience and Technology, Beijing, China recently created a bactericidal nanoparticle that carried an antibiotic and successfully suppressed a bacterial infection in mice.

However, the most remarkable innovation in this field was in 2017, when biomedical engineers designed and created small-scale locomotive robots mimicking the structure, mobility, and durability of red-blood cells. These nanobots developed by AI architects exhibit the ability to swim, climb, roll, walk, jump over and crawl in between the liquid or solid terrains inside the human body. Scientists expect that with the creation of these nanobots, they will be able to freely circulate around the body, diagnose malfunctions, deliver drugs to the disease, and report back by lighting up while performing their drug delivery.

As amazing as that may sound, many find it equally as invasive; hence the ethical debates surrounding nanomedicine.  However, taking a completely neutral stance, we will try to give the readers a brief overview of what Ai in nanotechnology for biomedical usage is all about, what strides it has made and where it stands currently.

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NanoTechnology for Biomedical Usage Methods

 

 

Owing to these characteristics, nano-particles have found their effective uses in the medicinal field. Some of these Ai in nanotechnology for biomedical usage methods include the following:

  1. Targeted drug delivery and consequentially minimal side-effects of treatments.
  2. Tissue regeneration and replacement, for example, implanting coatings, regenerating tissue scaffolds, repairing bones via structural implantation
  3. Implanting diagnostic and assessment devices, nano-imaging, nano-pores, artificial binding sites, quantum dots etc.
  4. Implanting aid like retina or cochlear implants
  5. Non-invasive surgical nano-bots

 

Ai in NanoTechnology for Biomedical Usage MethodsThis involves nano-particles that are constructed of immune-system-friendly materials, implanted with drugs and sent to the targeted areas of the body. Owing to their small size, they can effectively target only the areas that are disease-ridden; dysfunctional parts of the cells as opposed to the entire cells, or whole organs.

This essentially means minimal side-effects because it lowers healthy cell damage. This can be demonstrated by the example of NCNST creating nano-robots that carried a blood-coagulating enzyme called Thrombin.

 

These thrombin-carrying nano-particles were then sent to tumor cells, essentially cutting off tumor blood supply. Another example of drug delivery using nanoparticles is of CytImmune, a leading diagnostic company that used nanotechnology for precision-based delivery of chemotherapy drugs – it published the results of their first clinical trials, while the second one is underway. Many such methods of drug delivery are being used for cancer, heart diseases, mental diseases and even aging. 

 

Regenerative Ai in NanoTechnology for Biomedical Usage

 

 

As per the National Institutes of Health, the procedure encompassing regenerative involves “creating live, practicable tissues to repair or replace tissues or organ functions lost because of a slew of reasons, which may be chronic disease, increasing age or congenital defects.”

Just as nano-bots mimic the structure of red blood cells, they can mimic the function of auto-immune cells and antibodies in order to aid the natural healing process. Because the natural cellular interaction takes place at a micro-scale level, nanotechnology can make its uses known in multiple different ways. Some of these include regeneration of bone, skin, teeth, eye-tissue, nerve cells and cartilages.  Ai is able to collect and direct and modify regenerations. 

You can read about the Ai in nanotechnology for biomedical usage based cell repair by in the following article; The Ideal Gene Delivery Vector: Chromalloytes, Cell Repair Nanorobots for Chromosome Repair Therapy.  While such a powerful and innovative technology has its innumerable advantages in the medical field, it must be used within certain ethical perimeters for long-term applicability. Nano-technology brings with it many risks that need to be kept in mind by researchers.  If you need help to identify and recruit senior executives or functional leaders in artificial intelligence technology, consider the experienced team at NextGen Global Executive Search. 

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