Daily Drill

Hiring corporate executives may seem like a simple process that takes place internally with the board of directors present, but the reality is much more complex – Nels Olson knows this. A corporation does not have the hundreds of man-hours that are required to hire a new executive, but a head hunter works on projects such as this every day. Tangent Corporation and their comrades have helped hire countless executives in Washington DC, and every corporation looking for top executives much consider hiring a head hunter. This article explains why head hunters are an appropriate investment for any large company.

#1: Paying a One-Time Fee per Hire

Head hunters charge a one-time for every executive who is hired. The fee that is paid to the head hunter is nothing compared to the money that is lost while a corporation sits around attempting to hire someone. The head hunter charges a fee that would be considered in any circumstance, and the corporation may sit back waiting for their head hunter to find new executives.

#2: Do Head Hunters Hire Executives?

Head hunters do not hire executives alone, but head hunters complete much of the interview and vetting process alone. The board of directors of any large company only wants to see the final two or three candidates for a position. The head hunter has conducted extensive meetings with each candidate, and the candidates who stand before the board are more than qualified for the job. The board is left to make a final decision, but the final decision takes hours instead of weeks.

#3: Head Hunters Write Corporate Transition Plans

Head hunters in DC such as Tangent Corporation write transition plans for their clients every day. The transition plan is a combination of experience and common sense. The success plan may be used the moment someone leaves the firm, passes away or retires. The transition will be executed by the head hunter, and the head hunter will begin looking for new candidates at once. The vetting process starts over with every new position, but the succession plan stays the same.

Head hunters in Washington DC such as Tangent Corporation help large companies find new people to work in their corner offices, and companies work as normal until a successor is hired. Large corporations pay pennies on the dollar to a head hunter for hiring a single executive, and the company may trust the head hunter with every new hire.

With the availability of high-speed Internet and social media access around the world, it’s easy for entrepreneurs to assume that the world is just one big homogeneous market, and project their business will scale accordingly. Nothing could be further from the truth. Large businesses, as well as small, still fail often by not addressing the very real cultural, economic and political differences.

The challenge is to know what to look for when stepping outside your native market, be able to quantify the downside risk, and implement the required strategy in each of the new markets. In a new book, “Global Vision,” by NYU Stern School of Business scholar and leader Robert Salomon, I finally found some great insights on what to look for, and how to make the necessary changes.

His perspectives have been derived primarily from the travails of several major brands, including Walmart, IKEA, and Tesco. Yet, I believe the conclusions and strategy recommendations are equally valuable for every new entrepreneur who intends to expand outside their local country:

1. Size market potential granularly based on local economics. The most common mistake is overestimating a particular market’s potential, based on your domestic context. Foreign markets typically have less information available and more variability in sales estimates, which is a setup for failure. Do more local homework and validate cautiously.
2. Assume large and frequent economic swings. The inability to accurately predict or prepare for sudden changes in the local economic environment creates risks for the markets you know, but can wreak havoc for global initiatives. These economies are often ill-prepared to deal with economic shocks. Double the risk may mean half the opportunity.
3. Currency exchange fluctuations can wipe out gains. The potential for large currency swings may change the way you need to manage transactions, specify contract terms, and project futures. Smart entrepreneurs have learned to lock in exchange rates, collect on transactions immediately, and pay indigenous organizations to hedge the risks.

Read the rest of the factors here.

Source: forbes.com

Nels Olson and other executive recruiters in the Washington DC Metroplex are responsible for placing executives in many spots around the city, and every recruiter has been given a contract to service a client through many executive changes. The public often believes that a CEO change is the only reason to hire a search firm, but every executive position within a company must be heavily-recruited by a search firm. This article covers a few companies that handle recruiting in the Metroplex.

#1: A Few Companies That Offer Recruiting Services

There are several recruiting firms in the Metroplex, and they include Battalia Winston, Lucas Group and Reaction Search International. Every company works with its own set of clients, and they have created custom executive plans for each company. Every company in the area must have an executive plan that has been written to address their specific needs, and the executive plan will be executed by the search firm in the event of an executive change.

#2: What Are Executive Changes?

Executive changes include deaths, retirements, job changes and firings. Any time an executive leaves the company must be replaced, and the executive plan addresses their replacement in a systematic way. The plan has been written to offer an immediate method for replacing the executive, and that includes shuffling the current executives with the company.

Any large firm operating in Washington DC must ensure that they have invested in an executive plan that their recruiter will work on when the time is right. New hires will be brought before the board of directors, and the executive suite will shuffle with the help of the recruiting firm. Time is not wasted, and every party involved in the change is given instant information about the change.

#3: Why Is A Recruiter Needed?

A recruiter is needed to help a company find the people that must be hired from the outside. The board of directors does not have the time or inclination to vet and interview new candidates, but recruiters are familiar with hundreds of people who could fill any job. A long-term contract with a recruiting firm allows a business to easily slide from one change to another without bogging it down.

The executive recruiting firms in Washington DC that offer these services control the executive plans of their clients. Clients of every search firm immediately change their executive teams, and the change does not disrupt their normal business operations.

Mannatech, Incorporated has made a name for itself in the states for its distribution of nutritional products from its base in Coppell, Texas. Having established itself in 24 countries, its 310 employees have reached customers through hundreds of thousands of outlets and sales associates. Their next targeted location is Colombia.

Alfredo Bala, President and CEO of Mannatech (facebook.com), released a statement regarding the reception to the company’s expansion into South America. It’s been largely positive and many in the cities of Bogotá, Medellin and Barranquilla have expressed interest in their wellness products, giving them a platform to build off of in the local health communities.

Targeting major cities, areas with a high concentration of customers conscious about health and nutrition has been key to Mannatech’s success in other countries, and they applied the same method in their strategy for Colombia. According to Bala, while this may be key to succeeding in Colombia, these cities also provide an opportunity to reach out to successful entrepreneurs that want to partner up with the company, making it a profitable venture for both parties and customers.

Earlier in February, Mannatech announced a boost in independent sales associates to coincide with the opening events at the end of April in their three pilot cities. This launch event will also be preceded by initiatives that will help to prepare the sales associates in a way that will make the opening events successful, like promoting the implementation of business skills and cash incentives.

Aside from their staff and strategy, Mannatech plans on promoting their unique products directly to the public. Glyconutritional technology is at the center of all their products, which takes plant based products in order to better cellular communication and boost immune response in the body, boosting one’s health. This isn’t merely a claim promoted by the company. With 17 human trials on the effectiveness of their products, Mannatech has met the standard of validation needed to establish effectiveness of their products. Glyconutritional technology has been used by Mannatech to establish more than 100 patents in markets across the world.

Mannatech has also been vetted by industry standards like NSF International when judging the viability of their core products. Domestically, Mannatech has had their products verified by the Good Manufacturing Practices for Dietary Supplements, which operates under the purview of the Food and Drug Administration, determining their products are of a quality necessary for distribution.

Mannatech’s opening event will take place between April 26-30.

Hiring is a process that helps to select the right talent and workforce to join a company. If the right individuals are added to a company, it becomes easier to achieve goals and plans in time. However, identifying the right executives has always been a daunting task for many companies within Washington, DC. This has triggered the development of head hunters like Nels Olson, who work to allow companies locate the right executives. Below are some of the few companies that have been trusted to offer recruitment services in DC.

Y Scouts

This is an executive search firm that works mainly on offering services that help companies to locate exceptional leaders in various positions. Y Scouts has worked with non-profit organizations, social enterprises as well as culture-fanatical organizations. Basically, Y Scouts connects the right workers in DC with employers who are seeking for employees with certain leadership qualities.

McCormick Group

McCormick Group is ranked as the largest executive search firm within Washington, DC, also taking a top position in the list of top 25 executive search firms in the country. The company, which was launched in 1974, has managed to successfully place over 8000 individuals to different companies. Their work includes vetting applicants to ensure they qualify for certain responsibilities as required in the job market. This is followed by identifying companies and organizations that are looking for similar qualifications.

Grant/ Morgan Associates
Maintaining contact with customers in consulting capacity and offering guidance on hiring has been a great achievement for Grant/ Morgan Associates. The company is made up of professionals with skills in various fields, which enables them to keenly vet professionals for various positions in the market. They have completed many searches within Washington, DC, thereby offering solutions to different recruitment problems.

Hire Strategy
Hire strategy has worked to ensure all the recruitment they handle is consistent with the needs of different employers and most importantly the market. The company has been ranked highly for offering some of the best executive search services within Washington, DC. To ensure the right candidates are hired, Hire Strategy works with professionals who are proficient in various fields to help vet applicants.

Vetted Solutions
Maintaining consistency and superiority in the search process has been the biggest achievement for Vetted Solutions. The company has worked with different top firms and has been able to identify top talent for executive positions. They have been offering lasting solutions to leadership needs that most of their clients display.

Countries in the World Trade Organization (WTO) have agreed to abolish subsidies on farming exports.Developed countries agreed to stop the subsidies immediately and developing nations must follow by the end of 2018.

The WTO, which represents 162 countries, called it “the most significant outcome on agriculture” since the body’s foundation in 1995. But longstanding talks on other trade barriers were left unresolved at the end of the summit in Kenya. Removing agriculture export subsidies is intended to help farmers in poorer countries to compete more fairly.

“The decision you have taken today on export competition is truly extraordinary,” WTO chief Roberto Azevedo said at the closing session in Kenyan capital, Nairobi.

The summit of ministers, which finished on Saturday after five days of talks, was the first to be held in Africa.

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Source: bbc.com