What does it take to find a people a boss with exceptional leadership traits? It definitely takes a lot, much more than conducting a mere interview. An ideal leader should be a person who understands the importance of building great sincere teams ; having great organisational skills; possessing strong communications skills both internally and externally; a well-developed sense of how to motivate people to help them perform; and using past failures to develop and support their instincts and decision making. High level executives represent greater risk and potential liability than most other employees. They have greater access to financial information and other sensitive data; greater power and influence over the company and people; and higher and more public profiles, therefore representing a greater risk for damage to the company’s reputation and brand.
Therefore, a company’s executive screening program must be comprehensive enough to demonstrate that there are processes in place to prevent corporate fraud. The rising instances of senior level fraud are a proof that companies often fail to properly scrutinize senior hires. What should companies consider in structuring an senior executive screening program?
Establish a Policy – Companies need to start by establishing and enforcing an Executive Screening Policy. Just as screening policies for general employees demonstrate consistency and help keep the company safe from potential discrimination suits, so too an executive screening policy notifies the potential new hire that this is a standard practice to which all executives, even CEOs, are subject to. This can be very valuable in eliminating wrong hire early in a process without spending considerable time and energy on recruiting an individual.
Developing a Job Description – To get the right person you must know what behaviour and skills are needed for the job. This is easy if you have a good job description.
Conduct due diligence of the leader- It is necessary to conduct due diligence of the leader in the form of extensive background screening. This process will eventually, dig out each and every relevant information about the person which might get overlooked in the course of a standard background screening procedure. Different checks like address check, education check, Indian regulatory database check help to bring out a list of exhaustive information. Furthermore, as more executives live, study, and work abroad, it has become increasingly important that screening providers are able to procure background information from around the world. Therefore, executive background check should be customized and apt enough to dig out plethora of information about the leader. Organisations should make it a practice to approach reputed background verification companies which have the required expertise and can provide tailored package.
These steps will aid an organisation in effective executive screening which will mitigate the risk of hiring a wrong leader to a large extent. To know more, schedule an appointment with our expert today.
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