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Hiring without firing.

C Fernández-Araóz1

  • 1Egon Zehnder International, Buenos Aires, Argentina.

Harvard Business Review
|October 28, 1999
PubMed
Summary
This summary is machine-generated.

Executive hiring is challenging, with 30-50% of hires failing. This article identifies ten common hiring traps and offers strategies to improve executive recruitment success by systematically assessing needs and job descriptions.

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Area of Science:

  • Business Strategy
  • Human Resources Management
  • Organizational Psychology

Background:

  • Executive hiring is increasingly complex due to global business dynamics and candidate shortages.
  • High failure rates (30-50%) in executive placements pose significant risks to companies.
  • One incorrect hire can severely impact business plans and organizational stability.

Purpose of the Study:

  • To identify common pitfalls in executive hiring processes.
  • To provide actionable strategies for improving the success rate of executive hires.
  • To offer insights into avoiding costly hiring mistakes.

Main Methods:

  • Analysis of ten prevalent hiring traps with real-world industry examples.
  • Case studies illustrating the consequences of poor hiring decisions.

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  • Development of a systematic search strategy for executive recruitment.

    • Main Results:

    • Identified specific hiring traps, such as delegation gaffes and ignoring emotional intelligence.
    • Demonstrated how these traps lead to failed executive placements across various industries.
    • Highlighted the critical link between organizational needs assessment and job description alignment.

    Conclusions:

    • Effective executive hiring is a crucial organizational strategy.
    • Systematic needs assessment and strategic candidate sourcing are vital to avoid hiring traps.
    • Managers must be creative, determined, and courageous in their executive search efforts.