How to attract senior talent?: Temporary rental of executives.
As we announced in a previous post, Family Business Castilla y León organized the event: “How to attract senior talent?: Temporary rental of executives”
Guests of the caliber of José Muñoz, General Director of Copese GroupSebastián Arias, Former CEO Indal and César Rodríguez, CEO of MachinePointThey presented the cases that led their companies to achieve success at certain times, thanks to the hiring of an Interim Manager. Emilio del Prado – Managing Partner of EPUNTO Interim Management, moderated the round table in which topics such as the duration and price of this type of service were discussed, among others.
The full speech of Emilio del Prado, which clearly summarized this often unknown figure:
"Let me take a few moments to introduce the concept that concerns us at today's working breakfast."
When a temporary situation within our own organization keeps business owners awake at night, we find ourselves having to choose between two opposing decisions: We either resolve the situation with our own internal resources, or we must resort to external help.We obviously opt for the first option when we can: when we have an internal collaborator we completely trust to successfully carry out the activities that will resolve the situation. Sometimes, often, that collaborator is ourselves…
But if we choose to seek external help, we face a wide range of options to suit all tastes and budgets, each approaching the solution from different perspectives. Choosing one option or another (of external help) ceases to be a matter of trust and enters the realm of faith.
Allow me, despite the difficulty this entails, to classify this external help into four types:
- The first type is hiring consultancyThe consultant, with his methodology, expertise, and sagacity, makes us see the light and puts the solution before our eyes, but going back to the origin of our decision, we do not have the internal resources to execute it, however beautiful it may be.
- The second type is hiring DevelopmentTraining in the various strategic, operational, and technical aspects that will allow us to resolve the current situation internally, retaining the knowledge and generating an intangible asset that prepares us to successfully address other future scenarios. If our organization can wait for the training content to take root and translate into concrete and successful actions, then training is undoubtedly an excellent option.
We therefore have the option of hiring consulting and training services.
- The third and fourth types, as you can imagine, are hire senior talent, addressing the hiring of a manager on a permanent basis, or on the contrary, incorporating a manager only for the time necessary to resolve the scenario that concerns us...and worries us.
The "buy or rent" dichotomy is once again before our eyes. Onboarding (i.e., buying) an executive from outside the company can be a far more complex undertaking than the quest for the holy grail. The fear of a failed decision, one that inevitably leads to dismissal, grips us and paralyzes our decision-making. If this is coupled with the difficulty of attracting senior talent to our companies, the conclusion is clear: "Houston, we have a problem."
For big problems, better solutions: hire an executive for the time needed to resolve the situation It allows us to attract that talent – temporarily – control our costs without making them permanent, and have very high-level professionals who are tremendously enthusiastic about collaborating in our company, something that in a permanent scenario would be much more difficult, time-consuming and sometimes expensive.”