M&A is not the scary behemoth it was in the 90’s and early 2000s. Today, M&A means opportunity with less risk than ever before. What are your biggest challenges? Predicting how the deal will go, and what actions to take in response. Speed, integration, and change management are also imperative, coupled with momentum and good investment decisions are all elements of a successful merger or acquisition.
We know very well that the expanding global economy requires immense strategic planning and analysis. Thanks to our immense knowledge and commitment to following the global marketplace, we know how to approach recruitment challenges in markets worldwide – we know which markets have a large talent gap and how to recruit top candidates to fill it.
Overwhelmingly we are seeing most of the new energy jobs popping up in emerging markets. Worldwide this trend is forcing employers to stretch their recruitment resources to reach candidates with the skills, knowledge and experience they need for a positive outcome. We’ve learned in emerging markets to approach problems with the right mindset – knowing that it may take longer to break into the market but that the right candidate can be found and patiently working and developing relationships.
Given the incredibly competitive talent market, risk of your talent being ‘pirated,’ coupled the talent gap, has led us at Energy Power Lab to recognize the expense and risk that comes with any new hire. On average the cost of turnover for a lower level employee can be 30-50% their annual salary but executive position turnover cost can be as much as 400%! Unless your company has cash it wants to light on fire at the next BBQ, avoiding high-turnover is imperative to efficiently using funds. Candidate risk aside another risk comes to light when the company tries to manage new hires on their own.
A top management team is critical to any organizations longevity. At Energy Power Lab we work with your current team to understand the group dynamics and mission to better find candidates that will become an asset to the team. This creates sustainable value for the firm and synergy for the projects. Firms often need independent consultants with experience, honesty, and knowledge to assess top management teams and aid in a recruitment strategy for new positions or change management.
Moving away from executive and top management placements, firms also need strategic workforce planning in their arsenal of human resource skills. The most successful firms often say that, ‘we are always recruiting.’ This requires consistent attention by the human resources department or those on the top management team, following up with new contacts and maintaining relationships. By coupling this motivation with a recruitment agency your recruiter can always be on the lookout for profiles that suit the needs of your firm, ensuring that an attractive candidate that was previously unavailable doesn’t get passed up simply because you don’t have an order in.
A properly designed CEO succession plan is absolutely necessary to maintain stockholder confidence. The top management team and board members should never wait until the CEO has already planned their next move or retirement to develop a succession plan – rather every two years (or more often as the change-over date approaches) the board and TMT (top management team) should meet to discuss this plan. Our clients find that CEO succession is much less complicated when facilitated by our team. Our evaluation not only considers internal and external candidates’ experience and results but also their overall skills that will be an integral part of the complex and context-dependent role of CEO.
Family-owned businesses face some of the more complicated recruitment challenges as they try to grow and shed the stigmas of the 80’s and 90’s. Although today the playing field has changed completely, many candidates shy away from family-owned firms because they believe the family ties may conflict with their eventual career interests. We are experienced in the process of recruiting to maintain balance within the family owned firm while still helping candidates achieve their career goals. Family businesses offer a strong competitive advantage over larger corporations in that they often are more ‘in-touch’ with both their stakeholders and shareholders than a regular publicly traded company.
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