Author: Jim Weber

Management Consultant, Executive Recruiter, Author, Public Speaker; My blog, "Fighting Alligators" is geared to the over 50 job-seeker; people interested in starting their own business; and freelancers looking to become more successful. I have 22 years of experience with Fortune 500 Brands in Strategic Planning and General Management. For the past 22 years, I have been President of New Century Dynamics, Inc., an Executive Search Business I started and own. My company is in the business of providing Consulting and Executive Search Support to our client base. In 2014, I helped create ITB Partners, an Association of freelance management consultants.
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Ace Your Next Interview: The Executive Recruiter

My last two posts have been focused on preparation to help you with the experienced, highly competent interviewer, as well as the not-so-competent.   Whereas those posts were about interviews you might expect from the employer it makes sense to talk about the type of interview process you should expect from a third party Executive Recruiter.  It may be useful to talk about my process, which I believe to be fairly representative of our field.

Prior to introducing any candidate to my client I complete this three-part interview process:

  • Preliminary conversation
  • In-depth interview
  • Follow-up conversation

The starting point for my search assignments is the Position Specification provided by the client.  This document is a combination of a traditional Job Description plus a description of the ideal candidate’s profile.  Additionally, the client often includes a list of personal attributes which they believe will ensure the best fit with their culture.  I use this document as my road map.  The candidates I consider must have backgrounds that match the client’s requirements.

The preliminary conversation is scheduled for 20 minutes.  During this time I work to ensure that the candidate’s expectations for compensation and job requirements are aligned with the client.  I want to know that the candidate will relocate if required.  I also want to understand the candidate’s motivation to consider the job in question.  During this time I am evaluating the candidate’s professional demeanor.  If the candidate passes muster during this process I will reveal the name of the client and send her relevant information, including the position specs.  I give the candidate time to do her due-diligence to ensure that this job fits her career goals.   If the candidate does not align properly we agree to end the discussion at that point.   I ask for permission to add her email address to my mailing list, keeping her advised of new opportunities as they develop.

When the candidate is ready to proceed we schedule the in-depth interview.  Depending on the location of the candidate this interview may be in person, or over the phone.  I allow 60 minutes for the in-depth interview.   The first half of our time is devoted to listening to the candidate present his history in his own way.   I want to understand the decisions he has made managing his career.  Why did he change jobs?  Why did he join a particular company?  What kind of experience was he looking for?  I want to understand his successes and challenges.  I want to learn about building and managing effective teams and employees he has developed for promotion.   Most successful people have given a lot of thought to their careers.  They know their strengths and weaknesses.  They understand their ideal type of work and corporate culture.  This insight is important to me!

During the in-depth, I am evaluating the candidate’s communication skills; specifically the ability to present their career story in a compelling way.  I want to be certain that the candidate’s communication skills fit the client’s expectations.   After all, effective communication is likely the most important skill required of a Senior Executive.  When the candidate is finished presenting his history I use the remaining time to gain clarification and complete housekeeping duties like recording a salary history.   If this conversation goes well then I advise the candidate as to when I plan to present his credentials.  If it does not go well I will let him know.

The follow-up interview is usually short, targeted to gain specific information to help me complete my candidate’s introduction to the client.  That introduction includes a point by point justification as to how the candidate meets the client’s requirements, as well as her resume.  There are other aspects to my candidate validation process which I will describe in next week’s post.

Thank you for visiting my blog.
Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so please leave a comment.

Jim Weber, President
New Century Dynamics Executive Search
www.newcenturydynamics.com

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Ace Your Next Interview: The Well-Trained Interviewer


Last week’s post was directed at helping you with an inexperienced, untrained interviewer.  Unfortunately, you are likely to meet those folks far more often than the experienced, well-trained interviewer.   The suggestions I provided last week are also useful when talking with a competent interviewer.   And let’s face it, you probably will not know in advance the competency of your interviewer so prepare for the worst and hope for the best.

Speaking of well-trained, highly competent interviewers, I can thank my colleague, Stan for this week’s topic.  When reviewing my post with Stan last week, he asked me what “knock-out” questions I used in my interviews.   I was confident that I knew what he meant, but just to be sure, I asked him for an explanation.  A highly useful interview question, I did not want to make any poor assumptions.   Stan told me that he used a few interview questions that if poorly answered would eliminate the candidate from further consideration.  He provided the following examples.
1.     If we hire you, what is your plan for the next 30, 60, and 90 days?
2.     Why should we hire you instead of the other highly qualified candidates in the queue?
3.     Why do you want to work here?
4.     What motivates you more, the thrill of winning or the fear of losing?
As it turns out, Stan and I were on the same page however, my methodology gets to the “knock-out” issue (suitability for the job) in a different way, which may become  another blog post.  These questions are meant to learn how the candidate will approach her work and how she might set priorities.   They surface issues which the candidate should have given serious consideration and preparation to discuss.  The response gives the interviewer insight into the candidate’s thought process.  Additionally, they help the hiring manager gauge the candidates’ interest level for the job in question.   Poor unfocused answers are a big red flag.  If the candidate has not given any thought to these questions then she is likely not a good fit for the job.  “Knock-out” questions help the interviewer validate the candidate’s Executive skills, (ability)  motivation ( interest level) and fit (cultural).
Executive Skills:

  •  Strategic thinking
  •  Goal Orientation
  • Leadership ability
  • Technical Proficiency

Motivation
  • Self-awareness
  • Personal drivers
  • Career Goals
  • Understands the job and expectations for success
  • Is very interested in the job in question
Fit
  • Understands and shares our values
  • Belief in our product/service/mission
  • Experience working in a similar culture
So, the “knock-out” question is meant to qualify/disqualify the candidate on the most fundamental issues of concern to any hiring manager.  A satisfactory answer does not mean that one will get the job.  It is the ante.  The price of poker, so to speak.  They are meant as a starting point to understand the three big questions on the mind of the hiring manager;  1) can he do the job, 2) will he do the job, and 3) will he fit our culture.
An executive recruiter begins with the same fundamental questions.  He may arrive as his answers in a different way, but the result is the same.  If you are not working through a third party recruiter you should give serious consideration as to how you answer these questions, as well.  It would be useful to talk with other experienced hiring managers to understand their knock out questions.
To be successful in front of an experienced interviewer requires preparation.  Give ample thought to the job you seek!  Know the kind of questions interviewers use to qualify candidates at the most fundamental level.   Preparation is the key to success in any endeavor.   Ace your next interview by developing great answers to the obvious ‘knock-out” questions.

Thank you for visiting my blog.
Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so please leave a comment.


Jim Weber, President
New Century Dynamics Executive Search
www.newcenturydynamics.com

 

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Jim Lyons Joins ITBPartners

ITB Partners is pleased to announce that Jim Lyons has joined our team.  Jim has had over 30 years of leadership experience with major restaurant and franchise brands. Jim’s expertise in the area of franchising, restaurant operations leadership, real estate and development has helped franchisers, franchisees and restaurant operators meet their operational, development and financial goals.  Read more…

ITB Partners is a diverse team of experienced leaders, project managers, and discipline experts with an established history of accomplishment, business relationships and networks. We have direct experience successfully working with public companies, Private Equity Groups, start-ups,  acquisitions and turnarounds across a number of industries – specifically restaurant, hospitality, services and retail segments.  

For more information contact Jim Weber at:  Jim.Weber@ITBPartners.com or by telephone at:  770-354-2817

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Ace Your Next Interview



Over the past few weeks I had had some interesting conversations with employers who told me of poor experiences with Executive Recruiters.  One situation was with a current client and the other a long-time friend and networking contact who I have not worked for.  In the former case the hiring manager (no longer with the client) hired a candidate who did not rise to my “top three.”  He lasted less than a year and I replaced him pursuant to my agreement.  In fact, the replacement candidate was among the first group of candidates I presented and an all around more suitable hire.  The original hiring manager was not a part of the decision process for the replacement and this candidate is working out just fine.
In the second conversation I was able to ask my friend a few questions about the company’s selection process.  They have no Human Resources Department so the traditional HR functions are spread between the other Department Heads, if at all.   They do not have job descriptions so it was not clear as to how the hiring managers made their selections.  No one has had any formal interviewing skills training.  They do meet as a group to de-brief and arrive at a consensus for each hire.  This is a major positive which can serve as a base to build a better selection process if they chose to do so.  

Most managers I have talked with over the years have not had any formal training in recruiting and selection.  While working for one of my Fortune 500 employers prior to entering the Executive Search field I did receive formal training which I have found to be invaluable.  The biggest problem with the untrained interviewer is that they talk too much.  If the ideal interview is 20% interviewer talking and 80% interviewee talking, they operate in reverse.   Then at the end of the interview they will say that they did not learn anything about the candidate.  Not surprising if they are doing most of the talking.    So, the question is; how do you ace an interview with an untrained interviewer?   The answer, of course, is to help him interview you.  
Fundamentally, the candidate must gain some control over the interview to ensure a favorable result.  To help accomplish this I recommend that my candidates prepare a one page, key accomplishments hand-out which they can present to the interviewer at the beginning of the discussion.  This is a bullet point list of up to ten prioritized accomplishments, in big bold type, that best demonstrates your ability to perform the job in question.  Of course the interviewer has your resume, but this hand-out can become the agenda for the discussion, guiding his questions.   Trust me, they will appreciate the additional information and will be impressed by your preparation for the interview.
In subsequent interviews I have found that a hand-out which summarizes your understanding of the employer’s need is very useful to close the deal.   Personally, I find the following format to be very powerful:
1.     Yesterday:
·        
2.     Today:
·        
3.     Tomorrow:
·        
This is a great way to demonstrate that you understand where the company has been; where they are today; and where they want to go.   If you are a little off base the interviewer will point that out and give you something more to talk about.   If you are right on target, which you should be if you have been listening and doing your homework, you will totally impress the interviewer with you grasp of their needs.  The assumption will be that if you understand their situation, you will be effective in the job.  
So, if you want to do well with trained or untrained interviewers, help them interview you by the use of visual aids to focus the conversation.

Thank you for visiting my blog.
Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so please leave a comment.

Jim Weber, President
New Century Dynamics Executive Search
www.newcenturydynamics.com
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Conclusion: Pre-Planning Alignment; The Right Way to Start a New Job


Day two of our consulting project began with a check-in regarding the prior-day’s activities.  The consensus from the floor was that the process held great value for John’s team and they were grateful to have the opportunity to share their thoughts in a non-threatening environment.   Also included were introductions of new participants representing HR, Operations, MarCom, Public Relations, and Financial Planning and Analysis.  Since John’s team could not operate in a vacuum, these relationships are key to the success of the team.  They were included to ensure that they understood the Department’s objectives, the needs to execute those objectives, and generally, to make them a part of the team.  Additionally, their feedback and suggestions during the process proved to be valuable.
After the check-in, Stan provided the set-up to finalizing the team identity.  Stan introduced the concept of building a numeric value for the objective into their Logo and tagline.  Our experience has been that doing so would help keep their focus on the primary objective.  Then the small groups went back to work.  

When the time was up, each team leader presented their work.  The results were impressive.  Their thoughts were much more focused and relevant.  It was evident that there was a lot of talent and creativity in the room.   By the end of the presentations it was clear that they were close to a consensus.  It was time to turn their work over to the professionals and to move on to the next phase of the program, developing the plan.
Stan’s setup up for the Department’s final assignment included six buckets for consideration:  Staffing/Resources; Leadership and Strategy; Culture; Tools and Processes; Opportunities; and Results.  Each group was responsible for brainstorming each of those buckets, listing each idea on a single 3” by 5” Post-it ™ note.  When the allotted time had expired, group leaders placed their ideas in the corresponding buckets, (flip charts placed around the room).  Stan spoke to each bucket list, putting emphasis on the number of common thoughts in each category.  The results were striking.    It was revealing to note the high volume of thoughts around Staffing/Resources, Leadership & Strategy, and Culture, all three categories being closely related.  Tools & Processes, Opportunities, and Results had less than half the volume of Post-it ™ notes.  My takeaway was that the group was sending a clear message that John’s leadership was vital.  They seemed to believe that the Department’s objectives were realistic and attainable so long as they had a Champion leading the way.  I am certain that John viewed this as very favorable.
To wrap up the meeting, Stan recapped the process and talked about next steps.  John summarized his take-away to ensure that the Department knew that he “got it.”  He made a commitment to immediately address some of the more pressing issues and to factor remaining issues into the plan.  As a side note, the next week John gave Stan additional work that included facilitating the Quarterly follow-up meetings, and a few coaching assignments.  
The result of this assignment was a win-win-win.  For a new Executive it is wise to bring in an objective third-party to facilitate team alignment as we come without biases that could taint the results.  Additionally, it is more realistic for the Department personnel to speak freely in front of outsiders who are not in a position to influence their careers.  If you are looking to develop alignment and buy-in, a non-threatening environment is a good place to start.

Thank you for visiting my blog.
Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so please leave a comment.

Jim Weber, President
New Century Dynamics Executive Search
www.newcenturydynamics.com
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Pre-Planning Alignment: The Right Way to Start a New Job


Last month John called on our group to help him kick off the annual department planning and budgeting process.  John is an Executive well-known to me and my colleagues.  I placed him in a C-level position about 10 years ago, and my colleagues have worked with him since.   He recently landed an important job with a well-established brand, which represents an excellent career opportunity.  Achieving success will be a difficult slough, however.  The Brand has suffered from a succession of owners, leaders, and strategies.   Now under new direction, John and his team are responsible for critical strategies to rebuild the brand.  My colleague Stan got the lead on the project with me in support. 
John envisioned a full department off-site meeting, so Stan built the appropriate agenda.   Stan’s goal was to help John build alignment and ownership around the department’s four key objectives.  The agenda included a heavy dose of fun to encourage participation and creativity by the attendees.  By the end of the off-site John wanted to ensure that there was enthusiasm for the plan; that the team took ownership; and that the stage was set for an effective change-management effort.
The first exercise Stan facilitated, after the appropriate set-up, was what he calls “deep dive introductions”.  It was an ice-breaker, ‘getting to know you’ exercise.  Everyone had the opportunity to introduce themselves, speak to their job function, indicate their expectations from the meeting, and to tell something personal the group may not have known.   This included John, Stan, and me.  They also provided their tenure with the company and within the industry segment.  The whole point of the exercise was to begin building trust in a non-threatening environment.  John and Stan distributed prizes for the best idea, the most interesting disclosure, and the lamest personal disclosure.  This was a great way to begin the meeting.
It was interesting to learn that the average tenure with the company was 6.5 years, with 15 years in the segment.  15 people had less than one year tenure with the company.  On balance, the average team member had not seen a stable, consistent direction from this employer.  Clearly, the culture had been battered.
The next exercise was a mini-assimilation.  Whereas the first exercise as entirely personal, this was a group exercise.  Each group was defined by table, six team members per table.  The exercise included some administrative functions like appointing a scribe and a spokesman.  Their  task was to determine 1) what they wanted to know about John, and 2) what they wanted John to know about their team.  After that task, John told his team what he thought they should know about him.  It was another good exchange that reinforced the team’s desire for leadership and direction.  They told John that they were ready and eager to execute but craved a champion to lead them.  
After lunch, the final exercise of the day, another small group task, was to begin the process of establishing an identity for the Department.  The goal was to establish a name, a tag-line, and a logo for John’s team.  The small groups put a lot of energy into this activity, developing some very creative ideas.  It was a good start, but more work was required.  The evening was a planned event for the team which Stan and I respectfully declined to attend.
The first day was a big success.  The Department took a measure of John’s commitment to them and their needs.  John began to identify his leaders and problem children.  Stan and I found some points where John needed some coaching.  We were very optimistic about the prospects for the next day.   To be continued…

Thank you for visiting my blog.
Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so please leave a comment.

Jim Weber, President
New Century Dynamics Executive Search
www.newcenturydynamics.com
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LEADING YOUR NONPROFIT – almost – LIKE A BUSINESS:



 By David Shavzin

Bringing in some of these “business” concepts and experiences, married to a mission, can be extremely powerful. When I discuss working on growth with a nonprofit organization, I inevitably get a response something like this: “It sounds good but that only works in a business. “We are a charity/agency/government department/professional association and we are not like a business.” ReadMore…

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WORKING FOR PRIVATE EQUITY GROUPS: WHAT YOU SHOULD KNOW


As I have written so much about my work with Private Equity Groups (PEGs) and their portfolio companies it makes sense to explain what they do and how they operate.  PEGs are reshaping American Industry across all segments.  They are significant to the job market.   It is important to understand how they manage their selection process and what they look for in new hires.  If you are not currently working in a PEG Portfolio Company, you likely will before your career comes to a close.
So, what is a Private Equity Group?  A PEG secures its funding from high net-worth Individuals to make investments in undervalued small to mid-cap companies.  They will generally take a controlling position in the target company up to 100% ownership.  Their goal is to improve results in a three to five year period allowing them to sell at double their investment, more or less.   They may also invest in companies with significant growth potential but having difficulty raising capital.   PEGs have been known to invest in companies whose owner wants to cash out, or to buy out other investors.   Their fundamental investment goal is to find companies that can benefit from their expertise and generate a significant capital gain after a defined holding period.   They are looking to grow revenues, improve productivity (read systems and processes) and to eliminate waste.
Types of PEG Transactions
·        Turnarounds
·        Public to Private
·        Divestitures (Carve-Outs)
·        Family Business Exit Strategy
·        Funding emerging brands needing capital
If the target company wasn’t a fast-paced, high-energy environment prior to the PEG involvement, it most certainly will be after.  This is true especially early on as the two groups learn to work together.   The level of communication and thirst for data by the PEG is intense.   Redundant, unnecessary, or functions better handled by a third party are eliminated resulting in a more stream-lined organization.  The remaining team members are expected to pick up the slack.   Accountability is expected.  If the CEO cannot meet his objectives he will be replaced.  So, when looking for people to hire a premium is placed on people who are self-sufficient, self-reliant, and can tolerate the stress of a high-intensity organization.   Is this really that much different from most major brands?
The PEGs I have worked with are directly involved in hiring the CEO as one would expect, as well as the CFO.  Depending on the nature of the transaction, the CEO may or may not stay on after the investment however, the CFO is usually replaced.   This is not uncommon for most acquisitions as the new owner wants “their people” in key positions.   The first task for the new CFO is usually to get control of cash flow and to install a KPI Dashboard.  Other hires are the responsibility of the Executive Team with the customary curtesy interviews by the PEG Executive responsible for oversight of the company. 
Considering the selection process for PEG Portfolio Company job openings, experience is the key.  They do not have time or interest in on-the-job –training.  They are looking for people who have solid educational credentials, whose careers have been launched working for established and respected brands.  Industry segment experience is the base-line.   If the job is in a small to mid-cap brand then experience in a small to mid-cap company is required.   There is a preference for people whose career is still ascending.  Sure, there may be a preference for someone who is on the younger side and still hungry, however, experience and success trumps age.   A number of short tenured situations are a big red flag.  As with any hiring authority there may be certain quirks to their ideal selection process.  One client I worked with disqualified people who had stepped out of the corporate world to try their hand in an entrepreneurial venture,   whereas other clients valued that kind of experience.   So, in most ways, a PEG’s selection process is not very different from any other well-managed company, except for the specific experience they may require.

Important Notice: 

I just landed a Search Contract to find a Sr. Director IT for a restaurant company based in the Ohio Valley Region. The position reports to the CFO with base salary to $160K. If you know anyone who might be interested in this opportunity, please send them my way.   JimWeber@NewCenturyDynamics.com
Thank you for visiting my blog.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so please leave a comment.

Jim Weber, President
New Century Dynamics Executive Search
www.newcenturydynamics.com
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Beg For Customer Complaints

– Grow Your Business – Maximize Value for Exit Planning

by David Shavzin

It’s More Than a Three-Question Survey!

• You want to grow your business!
• You want your business to run more efficiently!
• You want new customers!
• You want to keep all of your current customers!

What if there was one way to do all four things?

You spend so much time looking for new customers – advertising, marketing, selling, networking… But what about a focus on keeping your current customers? Are you too focused on new customers walking in the front door, while current customers are walking out the back door?   Read more…

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“Time is short! Find me a Specialist!”


“Time is short!  Find me a Specialist!”  Those may not be the exact words, but that is most definitely the message.   My clients have specific needs that must be addressed and do not have time for a generalist to learn how to attack the problem.  They want people who have been there and done it.  Most of my clients are small to mid-cap companies. Many are owned by Private Equity Groups, (PEGs).  The rest are a mix of privately held emerging brands and more established niche players.  Virtually all are working to make their brand relevant in a very dynamic and challenging business environment.  Time is of the essence, so their planning horizon is short.   Certainly, shorter than for larger, Fortune 500-class companies. 
Most recently, my clients have been facing the following situations:
  • Change of ownership
  • PEG buy/sell transaction
  • Pre-IPO
  • Public to Private
  • Chapter 11
  • Debt Covenant Issues
  • Turnarounds
  • Start-up
  • Joint Ventures
  • Installation of Management Accountability Systems
  • New CEO
  • Major Systems Upgrades
Other searches have required experience in franchising, consumer packaged goods, and experience in family-owned businesses.  Industry-specific experience is almost always required.  I have even had searches requiring the candidate to move to remote, less than desirable locations.  This parallels the demand for our consulting practice, but not as much.
Most people know that tenures have decreased significantly.  Three to five years in position is not uncommon for C-level executives.  Three years or less is common for other senior-level executives. Much of this is related to heightened levels of accountability due to intense competition.  This level of senior-level turnover can affect the entire management team.  Some of it, of course, is due to a change of ownership which often means a new management team, or changes for key executives.   As the planning horizon shortens, the enterprise focus is on the most best ways to enhance competitiveness.   Companies in the small to mid-cap sector need people who can make an immediate impact.  Generalists requiring a learning curve are eschewed over candidates with more specialized skills and experience.  It has become an ad-hoc world.
The good news is that most of you have lived through the situations listed earlier.  You have been through the break-up of Conglomerates.  You have seen global competitiveness affect your employers.  You have seen employee-led Leveraged Buy-outs.  Without a doubt, you have seen the productivity benefits of technology.   These global changes have resulted in right-sizing; down-sizing; re-engineering; and outsourcing.   You have likely seen several ownership changes, IPO’s, and the public to private transactions, and probably have experience with PEGs.  By now, you have a wealth of experience and skills for specific situations.  Face it, with reference to Peter Drucker, we have been living in turbulent times.
The objective is re-branding oneself as a specialist, but not necessarily one specialty.   If you look back on your career you will find common themes.  You will notice that you have thrived in situations which have been identified in this post.  Those situations can become the themes for your positioning as a Specialist.   The good news is that word-processing programs allow you to have multiple resumes which you can tailor to a given specialty.  It doesn’t mean that you are fabricating a career history.   It means that each version of your resume puts more emphasis on the specialty (read skill-set) you wish to promote. 
Time is short for small to mid-cap employers, especially for PEG Portfolio companies.  They need specialists to help resolve immediate issues.  Become the Specialist they seek for success in your job search or in your freelance career.!
Thank you for visiting my blog.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so please leave a comment.