"Where the Heck Is My Company's President?" - 7/25/18 Edition
Stephen Says Column
Dear Stephen:
It's an open secret that my company has been looking to hire a new President since January of this year. The scuttlebutt says that two offers have been extended and both of these people have said no.
We do have an acting President who is quite good, but the fact that we have nobody permanently in the position is starting to affect morale. People are starting to take it personally; it feels like we aren't good enough. Ironically, I know that I work for a great company with an iconic brand. It would seem to me that this role at this company is a great opportunity!
It would be one thing if it simply took a while to find the right person for the job, but the fact that I know people have actively turned down offers makes it a hard pill to swallow. Should I be nervous and looking for a new job myself? What do you think is up?
I hope you can help!
In Need of a Boss
Dear In Need of a Boss,
You have nothing to worry about! If you take a look at some of our country's financial reports, you will see that America currently has one of the lowest unemployment rates in the history of our country. And while wages have been stagnant, that certainly isn't an issue at the C-Suite level. The truth is that it's a great time to be an executive, and so nobody is desperate or hunting for a new job.
Even glamourous Silicon Valley brands like Facebook, Google, and Uber are having a hard time attracting key executives. Moreover, if a key executive at a President or CEO level does not get a generous counter-offer from their current employer once they say they have an offer somewhere else, they probably aren’t a great candidate to begin with!
The norm is to see a search like this take at least seven to nine months and often over a year. I would even be concerned if the position were filled too fast. That would mean that either your company, the new hire, or both are desperate, and that’s when folks make decisions they regret. That’s a bad way to hire.
Although I am sure it’s frustrating for the owners or Board of your company to have a few candidates pass on this executive position, I want to assure you that this is fairly common, especially in a good economy. It is almost certainly not a reflection on your company.
As far as your own morale and your potential search for a job go, I would suggest you stay put. That being said, it may be time to update your resume, though not for the reason you may think.
When a company gets a new President, that new executive is likely unfamiliar with the existing staff. Depending on how thorough the hiring process was, they might not be fully aware of your function, background, or education. When this new President comes on board (and sooner or later they will), make sure to send a kind and thoughtful welcome letter with a resume attached. That way, the new boss will instantly know who you are, your background and your role in the organization. Be sure your LinkedIn is as up to date as your resume because a new President often looks there first to see who they inherited.
Concentrate on making a good impression when the position is finally filled. Don’t worry about filling the position. That’s not your job.
Stephen
You can send your workplace questions to Stephen at: StephenSays@bellow.press
Questions selected to be answered, will appear in this column. Please use the Subject: Stephen Says for all emails. Stephen Viscusi is a bestselling author, television personality, and CEO of The Viscusi Group, global executive recruiters located in New York. Follow Stephen on Twitter @stephenviscusi. Like Stephen on Facebook; and follow him on LinkedIn.
The Viscusi Group