GAAP's Best Practices (The Process)

"Recruiting is a process, not an event."

The key to a successful hiring is defining superior performance before you hire.

GAAP's process has been developed, refined and continuously improved over the course of the many years that the Partners at GAAP have been recruiting financial and senior-level executives. Our process is steadfast but dynamic. Every search engagement has unique parameters, requiring a somewhat specific approach, and certainly an individualized communication and search strategy tailored to the client and the requirement.

But quite frankly, our clients aren't interested in the minutiae of our search process. They are interested in a timely and successful outcome. Our clients expect us to be results-driven, and that's exactly what we are. It is in our DNA and embedded in every facet of our process.

So how do we get results consistently, search after search, year after year? There are proven practices and philosophies that underscore every engagement, and these translate into five fundamental facets of our process.

The Five Facets of our Process

Definition
Search
Assessment
Selection
Results

Definition of the Requirement

Recruiting is basically selling. We are selling a career opportunity to a senior executive who is usually employed and not on the job market. In order to communicate the sales appeals to a candidate, we require a solid understanding not only of the position and the deliverables, but also of the company--the opportunities, challenges, and strategies, as well as the business climate and crosscurrent, the competitive landscape, the corporate culture, and the organizational structure. This requires discussions with the company's senior executives and frequently other stakeholders, such as board members, peers and sometimes key subordinates.

These discussions permit us to develop a Position and Performance Profile that encompasses a description of the ideal - candidate the desired personal characteristics and attributes, and the suite of competencies that will contribute to success; and the requisite experience, credentials, and track record of accomplishment. This Position and Performance Profile also details the responsibilities, accountabilities, deliverables and performance expectations.

The Position and Performance Profile helps us to develop our search strategies and assessment framework.

Search

This is the most time-consuming, labor-intensive facet of the process. It involves networking, sourcing, and contacting, directly and discreetly, potential candidates and referral sources. We conduct extensive research to identify all possible candidates.

Our search strategy is reflected in our maxim: Get it Right and Keep it Right. Get It Right centers on performance objectives.

We align our search and assessment strategies and methodologies with the pre-defined performance demands and expectations for the executive who will be hired.

This involves exhaustive search and research; conducting in-depth performance-oriented assessments that scrutinize accomplishments and results; supported by thorough reference checks and verification.

In fact, we will only commit to a search mandate when we are confident that we can deliver against the performance objectives that have been established. And when we commit, we are unrelenting, thorough, aggressive, professional and discreet in our pursuit of top performers.

Our philosophy is that there is quality in quantity, so we are exhaustive and thorough. This facet of the process can take from two and six weeks, depending on the size of the candidate community and the scope of the search. It is a critical facet that we are reluctant to abbreviate. We do have a sense of urgency, and we work as efficiently as possible. But if this facet is cut short, we believe the outcome of the search risks being compromised.

Assessment

First we conduct a comprehensive evaluation of the suitability and relevance of the skills, experience, accomplishments, and credentials of all interested candidates. We then conduct a rigorous competency-focused interview of the qualified candidates. We assess their overall fit, motivation, and commitment to the process.

At this early stage, and only with a candidate's full knowledge and approval, we attempt to obtain preliminary references on long-list candidates. Because of the risks associated with disclosing an employed executive's candidacy, we only conduct in-depth, multi-source references on the finalist candidate.

However, getting references is an very important part of the assessment process. When we interview referees, we are guided by the performance objectives defined at the outset of the search. We interview superiors, peers and subordinates. Our objective is to validate our assessment and to enhance our appreciation of the candidate's achievements and track record, and to gain insights into the candidate's style and overall persona. We also arrange for a full background investigation including a verification of professional credentials and university degrees.

Selection

A long-list of candidates is presented to our client for review, discussion and debate. We help our clients decide on the short list of candidates to be interviewed.

Our presentation documentation consists of a correlation of the candidate's experience and accomplishments to the performance expectations and deliverables; a summary of the candidates' competencies, skills, personal characteristics and attributes; and a position-specific matrix comparing all of the long-listed candidates. We also provide an interview and assessment template for the members of the selection team.

We communicate often and honestly with all candidates during the entire process. We believe that candidates have expectations and rights also. The way they are treated reflects on our clients and us. We treat them with respect, courtesy and professionally.

GAAP prefers to participate in the negotiations between the finalist candidate and the client to ensure that both parties are satisfied with the outcome and that all issues and concerns are dealt with fully and openly. If relocation is required, GAAP assists in the logistics, and when possible, assists the family assimilate into the community.

Results

The enduring value that GAAP adds is driven by supporting and enhancing the performance of the executive who is hired through our intermediary.

We start by provide an oboarding and integration plan for our client and the newly-hired executive. The plan helps to ensure that the critical first 90 days are smooth and productive. Thereafter, we implement The Retention Regimen, a program that proactively facilitates long-term retention and performance outcomes of the executives that we recruit.