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Hiring a new executive can be the most important decision management ever makes for an organization’s future. A poor match can impact a company for years to come. A recent study showed that nearly 40 percent of new hires last no more than 18 months in their new jobs. In some cases, a clearly defined onboarding program and thorough orientation would have aligned the newly hired to the culture of the company and expectations for results anticipated by senior management.

Leading executive recruiters go well beyond the search to facilitate the new recruit’s alignment with his new employer. Failure to fit can be fatal for a great career, it can be fatal for an employer, too.

Recruiting a key executive requires far more than reviewing a pile of résumés. Sifting through social media for that well-worded bio, carefully crafted to promote a seemingly "flawless" candidate, is sure to be a dead-end, too. These methods of recruiting talented executives are time-consuming, expensive, and rarely effective.

Harvard Business Review reports that executives change companies every 3.3 years on average. This statistic suggests that some organizations are actively recruiting for replacements most of the time. Executive searches can take up huge chunks of management time. This time should be spent on productive activities.

The role of a human resources executive in any organization is multifaceted, fast-paced and strategically focused. Finding, interviewing, hiring, and retaining talent is one of the most important aspects of the job and often, one of the most difficult. But it is only one of the many roles played by HR executives. 

Engaging an executive search firm can increase efficiency, save money and most importantly, help an organization win the best talent. Why? Because it’s their expertise, it’s what they do every day.

Hiring mistakes are costly! Probably costlier than you can imagine. Bad hires reflect negatively on those involved in the hiring decision and adversely impact corporate culture and finances. One bad hire can cause productivity to drop throughout an entire company. 

There are considerable costs tied to each bad hire. These include:

Experience teaches many things including how to make the most of a first “real” job. As parents, relatives, and mentors, we want to impart wisdom — without sounding like Methuselah — and help our millennials succeed. 

Here are a few tips to help get the conversations started. Use the list creatively. You may want to text one tip a day to your millennial, create a laminated card-size version of the first words of each tip, or post the entire list somewhere visible.