Companies hiring at the executive level are seeking top producers with connections in the industry. To receive a desirable offer of employment at the executive level, you need them to identify you as the person who is best qualified to satisfy their specific needs. The company is going to offer the job to the person that they feel best fits their needs and the feel of their team. They’re seeking someone who adds value to their company and their business. In addition, they will be looking for someone who adds enough value to the company to more than justify every dollar they will be offering in compensation (i.e. salary, bonuses, benefits, etc.) Before you assume you are ready to seek another executive level position, there are several issues you should consider.
- Marketing Yourself as An Executive Seeking a New Position: Many executives will assume they do not need assistance in a job search. They did it before. They are confident in their abilities; they run businesses, they achieve results, they have managerial and executive leadership experience. Yet, in today’s marketplace, an excellent track record is no longer enough to set you apart. There are hundreds of other executive-level job seekers out there. The job market is fierce. Executives seeking to change jobs in today’s marketplace must use multiple channels for job searches. They must also package themselves properly in a variety of mediums, including on paper, online, on LinkedIn, and on other social media channels. Thorough research should result in carefully selected target companies. Working with an experienced executive compensation attorney may give you access to exclusive databases with a variety of hiring organizations.
- Securing Interviews: Securing interviews at the executive level is the hardest part of the job search process. Public, online listings for executive level positions often garner anywhere from 100 to 1,500 applications. Without access to additional listings and without being positioned properly, executives often secure interviews at levels below their earning potential or for positions that are not a good match. This is a waste of both time and resources. With an experienced executive compensation attorney, you may be able to get past the gatekeepers in the interview process and gain direct access to the hiring authorities.
- Controlling Interviews: Going into the interview process without a clear interview strategy is a common mistake. Many executive-level job seekers assume their experience negotiating deals, selling products/services, etc., has made them experts in interviewing for executive positions and demonstrating their superior fit in comparison to the competition for an optimum job offer. Simply researching a company’s background is not enough; to truly succeed, executives interviewing for new positions must control the interview and persuade the company that they are the only person for the job. You want to be in a position to reject offers, because having more than one offer means you are the one in a position to negotiate.
- Effective Salary Negotiation: The hiring company already has a number in mind. You already have a number in mind. The difference between the two numbers and how you address the discrepancy determines how successful you will be in negotiating your salary and benefits package. Since nothing influences future earnings more than your starting salary, this is arguably the most important part of the process. Know your priorities before the negotiation begins. Create value that the company will recognize, and you will be far more likely to succeed.
Many executives make the same mistakes when seeking a career change. Avoid the financial losses that can come with ineffectively managing the process by contacting an experienced executive compensation attorney at Barrett & Farahany today.