Companies in every industry are facing a shortage of qualified candidates to fill C-Suite roles. Filling these vacancies is rarely straightforward, but they’re vital roles within any organization. That sense of urgency leads many companies to fill those openings with candidates who are less than ideal. In a best-case scenario, the person hired will work out well enough, even if they’re not the visionary leader the company was hoping to find. In a worst-case scenario, the bad hire leads to more problems and a disruption of the organizational culture.
An increasing number of organizations are forgoing the traditional executive search route and filling C-Suite vacancies with high-level consultants. It’s a trend that’s proven to be a win-win scenario for both parties.
A win for talent
Project-based work is becoming more attractive to experienced professionals seeking variety and a flexible schedule. The growth of the gig economy has removed any perceived stigma attached to temporary jobs and the people who choose them.
Today, professionals at all experience levels value autonomy and flexibility provided by project-based work. Technology makes it easy to get up to speed quickly in a new company. In addition they can avoid the endless meetings, administrative tasks and politics that are all too common in many organizations today. In many cases, executive consultants receive compensation at or better than what they earned in full-time jobs. As a bonus, that salary often comes without the 80-hour work weeks that used to be the norm.
When talented professionals choose to pursue project-based careers, they can dig into challenging assignments for a few weeks or months. At the end of the assignment, they can take time off to disconnect, travel or spend time with family. That level of flexibility prevents burnout and provides a level of work/life balance not possible in many major firms.
A win for the organization
Companies need highly skilled talent to help them address a wide range of business challenges. So when a growing number of professionals decide they’d prefer to work on a project basis, organizations follow the talent.
Today’s global business climate puts a premium on an organization’s ability to remain agile. Knowing how to engage a fast and flexible talent model is a competitive advantage. Increasingly, companies are trusting high-level temporary workers and consultants to handle the mission-critical work that used to be handled solely by permanent employees or outside firms.
Companies get access to talent trained at top schools and companies and thoughtfully researched advice and solutions, all while keeping their internal management teams lean and capping costs.
Cultivating leaders take time – time that many organizations don’t have when a position suddenly becomes vacant or a new opportunity comes up. Whether you need to fill an executive role for a single project, to fill in during an absence or just some expertise and guidance, consider filling out your talent pipeline with C-Suite consultants. You’ll be able to take action the moment high-level talent is needed.
If you want to know what to pay all of your top talent, download our 2018 Salary Guide now.