The concept of mentorship traces back to the character of Mentor in Greek Mythology in Homer’s Odyssey. Odysseus, King of Ithica, asks his trusted companion, Mentor, to keep watch over his son, Telemachus, while he is away. Mentor acts as a guide to Telemachus, supporting him in his father’s absence. The term mentor then became used more widely for a trusted guide who imparts wisdom and shares their knowledge.

In the Middle Ages, mentorship became popular with apprenticeships in trade work. It wasn’t until the 1970s that mentorship made its way into the business world. Though the stakes may not be the same as they were in ancient Greek civilization, mentorship plays a key role in career growth and success.

What is the role of a mentor?

A mentor is someone with more experience than the mentee who passes along their knowledge and experience in the field the mentee aspires to work in. The role of the mentor is to guide the mentee throughout their career progression.

It’s also important to note that anyone at any stage in their career can—and should—have a mentor. According to a Harvard Business Review survey, 84% of CEOs with formal mentor relationships were more likely to avoid costly mistakes and became efficient in their roles more quickly, and 71% of CEOs attribute their improved performance to their mentors.

How does mentorship work?

Professor of Organisational Behaviour at Boston University, Kathy E. Kram, in her research on mentorship in the corporate world, lists four phases of the mentoring process: initiation, cultivation, separation, and redefinition. According to Kram, mentorship is an ongoing exchange that moves between these four phases.

The initiation phase is when the relationship is established, and trust is built between the mentee and mentor. Cultivation is when more frequent interactions and collaboration occur (this stage can last 2-5 years). Separation is when the mentee begins to operate more independently from the mentor, and the redefinition stage is when the relationship shifts from mentorship to peer.

The mentorship relationship should also have specific and measurable goals, frequent interaction, and actionable steps. There should be a clear desired outcome for both the mentee and the mentor.

What are the benefits of mentorship?

There are proven benefits to mentorship for both the mentee and the mentor. Mentorship increases retention and overall job satisfaction. In fact, 25% of employees who enrolled in a mentoring program saw a salary increase, and mentees are promoted five times more often than those not in mentoring programs.

Further, high-potential mentoring is a way to nurture top talent and develop them for potential future leadership roles. There is a reason that 71% of Fortune 500 companies have mentoring programs. The statistics don’t lie.

Mentorship can also help with:

Conclusion

It’s also important to remember that mentorship does not always work out. The initiation phase of mentorship is the time to assess whether the mentee and mentor are compatible and can offer something of value to one another. Mentorships can also end at any stage. Mentorship is a form of leadership. It is a way for those with more experience to give back to the company and leave behind a legacy from their own experiences. It also helps foster a sense of community and belonging within a corporation.

“Your legacy is every life you’ve touched. It’s every person you’ve harmed or helped.”

Maya Angelou

As the age-old saying goes, ‘If you love what you do, you never work a day in your life’. But how true is it? For most people, loving what you do comes at a cost. And loving what you do may not be as fulfilling as you’re led to believe.

It is natural for humans to search for meaning in their careers, especially when most of the waking day is spent at work. In fact, the average person spends 90,000 hours at work over a lifetime, which is one-third of a life. That is a lot of time that could either be soul-fuelling or soul-destroying. However, building a life that you love involves more than simply enjoying your day job. For some, benefits, stability, and the ability to spend time with loved ones and shut off at the end of the day are far more rewarding than loving the work itself.

Should you quit your job to pursue your dreams? You might want to consider what it means before jet-setting across the world.

Where did the idea of ‘loving the work you do’ originate?

Sarah Jaffe, author of Work Won’t Love You Back: How Devotion to Our Jobs Keeps Us Exploited, explains how the slogan, ‘If you love what you do, you never work a day in your life’ originated from a time when women were expected to do unpaid labour in the domestic space under the guise that it is ‘natural’ for women to enjoy this type of work. In creative pursuits, artists were underpaid or not paid at all because their work was seen as their passion and therefore, the reward was in the making.

‘Loving the work you do’ was a way to exploit workers, and it still is. Many creative jobs do not pay well. It may be appealing to quit your 9-5 in the hopes of living the digital nomad lifestyle, but the reality is often much bleaker than it appears. For entrepreneurs, the idea of starting a business may appeal for similar reasons — flexible working hours, control over one’s own time, passion, and potential to earn more — but those benefits often do not come until years later.

Why doing what you love doesn’t always pan out

It can be exciting to take the leap and pursue your passion, but managing expectations is essential. First, doing what you love may require sacrifices in other areas of life. This may mean working longer hours, working on weekends, and accepting little to no monetary reward at the outset. Further, research shows that 60% of businesses fail in the first three years. If your dream is to be your own boss, accept that it may take a lot of trial and error before achieving that status.

For entrepreneurs and creatives especially, doing what you love can also be incredibly lonely. Humans need social interaction. According to a Harvard Business Review study, half of CEOs experience loneliness in their careers, with first-time CEOs the most susceptible. There are ways to combat feelings of isolation such as forming communities outside work and with other like-minded individuals. But it may be worthwhile to assess whether an environment that provides social interaction is a non-negotiable.

What are some ways to pursue a life you love?

First, don’t quit your job without a plan. Always have a safety net in case it doesn’t work out. Maslow’s Hierarchy of Needs explains that our basic needs must be met before we can achieve self-actualization. You will not enjoy the work you do if you cannot afford to put food on the table.

Second, it’s also important to consider your desired lifestyle and what kind of career can provide that. For example, if ‘doing good’ is a core value, then you may have to accept a downgrade in pay. If work-life balance is important, then perhaps working for a 9-5 at a medium-sized corporation rather than pursuing a passion is more in alignment with the life you want.

Lastly, work is not the only means to living a life you love. It’s important to diversify your interests to ensure your whole identity doesn’t revolve around your career. This can include hobbies, side gigs, passion projects, spending time with family and friends, or even physical activity.

“When you have money, it’s always smart to diversify your investments. That way if one of them goes south, you don’t lose everything. It’s also smart to diversify your identity, to invest your self-esteem and what you care about into a variety of different areas — business, social life, relationships, philanthropy, athletics — so that when one goes south, you’re not completely screwed over and emotionally wrecked.”

Tim Ferris

How can you find meaning in your work?

Ikigai is a Japanese term roughly translated as ‘a reason for being’. It is often represented as a Venn diagram (shown below) as a guide for discovering your life’s purpose. Your Ikigai is doing what you love, what you’re good at, what the world needs, and what you can be paid for.

A key component of Ikigai is the ability to see the direct impact of your work. Ikigai can even increase longevity. Japanese Okinawans who embody Ikigai are known to live well past the age of 100.

Finding your Ikigai does not need to be in a grandiose way either. In fact, humans have the incredible ability to create meaning out of even the most mundane, or awful, of circumstances. In Viktor Frankl’s Man’s Search for Meaning, which he wrote after enduring the concentration camps, he explains:

‘To choose one’s attitude in any given set of circumstances, to choose one’s own way…that the sort of person the prisoner became was the result of an inner decision, and not the result of camp influences alone…It is this spiritual freedom — which cannot be taken away — that makes life meaningful and purposeful.”

Perhaps the answer is to focus less on loving the work you do and more on doing work that is meaningful.

What does it mean for a person to function at their peak? Peak performance means that all basic needs are met so the mind and body are nourished, which allows for the highest level of success. It’s about long-term, consistent, and sustainable growth.

Often, peak performance is a term used in the athletics world. Athletes are in a constant cycle of training and recovery, learning their body’s cues in order to perform their best in matches or competitions. But the same mentality and techniques can be applied to entrepreneurship, the business world, or to anyone who is striving to live their best life. Superhuman status is not just for the elite.

“Peak performance in life isn’t about succeeding all the time or even being happy all the time. It’s often about compensating, adjusting, and doing the best you can with what you have right now.” — Ken Ravizza, Sport Psychologist

Ken Ravizza, Sport Psychologist

The power of the to-do list

It may seem simple, but one way to achieve peak function is by writing down goals and to-do lists for accountability. The goals should be SMART goals: specific, measurable, actionable, relevant, and time-bound. But a to-do list can include everything from long-term planning to what to accomplish before breakfast the next day. To-do lists help to organise the mind in a more linear fashion and create space to focus on the present moment rather than stressing about what’s to come.

It is also important to not rigidly adhere to a to-do list. Psychologists have found that a growth mindset is more indicative of long-term success and motivation. Part of being a highly successful person is learning to adapt to the inevitable fluctuations of life.

Mindfulness & mental health

Mindfulness and meditation can help with stress and the ability to remain calm under pressure. Prioritising mental health is equally important as physical health and the items on a to-do list. Goals are important, but they also need to be sustainable.

In fact, in a study in The Journal of Cognitive Enhancement, athletes who performed just twelve minutes of meditation a day showed higher mental resilience than those who didn’t. They also had more improved focus during training. Rest and recovery can often seem counterintuitive when schedules are jam-packed and the lists endless, but ultimately, taking the time to be present and slow down will lead to more effective results.

Diet, nutrition & sleep

A healthy diet, nutrition, and adequate sleep are essential to achieve peak performance. Sleep debt — fewer than seven hours of sleep — may be an ‘unrecognised, but likely critical factor in reaching peak performance’, says Cheri Mah, researcher at the Stanford Sleep Disorder Clinic and Research Laboratory. There is a strong correlation between diet and nutrition and quality of sleep. For example, sugar, caffeine, and alcohol negatively impact sleep, whereas eating a Mediterranean diet, and a diet high in Omega fatty acids, may lead to more restful sleep (Godos et al., 2019).

Many high performers work around their ‘peak performance hours’, which is the time of day when a person is most efficient based on the body’s chronotype and circadian rhythms. In other words, knowing whether one is a night owl, or a morning bird can help determine the day’s structure for optimal success.

The importance of deep work & flow

Lastly, the ability to be in flow is not only a factor in success but also happiness and overall life satisfaction. ‘Flow’, a term first coined by positive psychologist, Mihaly Csikszentmihalyi, refers to being completely immersed in the task at hand. It can be achieved by avoiding multitasking, focusing on quality of the work rather than doing as many things as fast as possible, and by doing a task that is enjoyable.

In the book, The Leading Brain: Powerful Science-Based Strategies for Achieving Peak Performance, the authors explain that optimal focus also requires some level of stress. Too much stress will inhibit focus, and too little leads to a lack of motivation. To achieve deep flow, then, there needs to be some sense of urgency in the work. There needs to be a purpose driving the task.

Conclusion:

Peak performance is not achieved overnight. It requires consistent practice, having clear goals, and holding oneself accountable, while also maintaining a healthy and balanced lifestyle. Anyone can achieve peak performance and success by implementing the right habits.

More on sleep

In a pre-pandemic world, employees would often show their dedication to the job by being the first one in the office, the last one to leave, and rarely taking breaks. Busyness was a sign of the high achiever. Now, with hybrid working conditions of both remote and in-person, the method might not be the same, but the mindset is still prevalent. The ideal employee is one who is always ‘on’.

For an executive, the need to be busy might look like an inability to shut off, constantly checking emails on the weekends, or refusing to delegate work. But this is not sustainable. The cultural obsession with productivity has led to an epidemic of burnout and stress in the workplace, and it’s impacting quality of life as well as businesses.

What are the signs of burnout? And why should leaders care about the well-being of their employees and themselves?

The World Health Organisation classifies burnout as a ‘syndrome conceptualized as resulting from chronic workplace stress that has not been successfully managed’. It lists the three characteristics of burnout as:


In a study by Personio, 38% of employees in the UK and Ireland are looking to change roles due to toxic workplace culture, bad work-life balance, and a lack of career progression. This turnover rate could cost businesses nearly €17 million. In fact, companies in the States are seeing a similar trend with a ‘record number’ of employees quitting their jobs. McKinsey & Co. refers to it as ‘The Great Attrition’. Burnout always existed, but the pandemic has exacerbated its effects.

Employee burnout is a huge problem that affects not only the employee themselves, but the business, the leaders, and the broader culture. And it’s costing millions.

Busyness can lead to burnout because of the ‘tunnelling’ effect. According to a Harvard Business Review article, researchers describe this phenomenon as the inability to focus on anything but the immediate task at hand. In this state, there’s no bandwidth to focus on long-term goals or strategic planning. It’s exhausting. The first step to breaking free of this cycle is to recognize the signs of burnout and admit that something needs to change.

As burnout and stress are cumulative and chronic, a few ‘bad’ days in a row should not be ignored. Nutrition, sleep, and physical exercise play a huge role in overall well-being. It’s important to get a minimum of seven hours of sleep a night, eat a well-balanced diet, and move the body regularly. Meditation and mindfulness are also proven to improve the effects of stress when practised consistently.

Another way to combat burnout, which on the surface may seem counterintuitive, is scheduling downtown and relaxation into the workday. A Scientific American article explains that ‘downtime replenishes the brain’s stores of attention and motivation, encourages productivity and creativity, and is essential to achieve our highest levels of performance’. Downtime can include a meditation practice, but it can also be taking a midday nap or a walk outside.

For a company culture to drastically change, leaders need to create new models for productivity and success. Perhaps the ideal employee is one who prioritises their mental health and physical well-being while getting the job done. Leaders can also encourage their employees to create personal boundaries. There will be times when an executive or manager sends an email at 9 p.m., but it does not mean that they require an immediate response.

Lastly, burnout is often a symptom of an underlying issue. There are simple ways to combat burnout, such as proper diet and nutrition, sleep, and setting boundaries, but there could also be another cause that requires deeper reflection.

In a study on how the most successful people conquer burnout, Bismarck Lepe, CEO, talks about the importance of mission in relation to burnout:

‘I don’t believe “burnout” is a function of the amount or intensity of work one takes on. Rather, feeling burned out is usually caused by a misalignment between the individual and their daily tasks’.

Bismarck Lepe, CEO Wizeline

Stability, benefits, and healthcare are all important aspects of a job, but if a person hates their work, it can also have an array of negative health impacts. The solution to burnout might be less about finding work-life balance and more about finding work that is fulfilling.

Burnout may be leading to a million-dollar loss for businesses, but the price on quality of life is equally bad, if not worse. If leaders can address burnout and stress and create better working conditions, there will be more attraction and retention rather than attrition. Change needs to start from the top-down for the culture to shift.

What is the subconscious mind?

We spend most of our time on autopilot. Everything we do, from breathing to walking, to eating and having a conversation, occurs automatically as a way for our brain to preserve energy for what it considers more important tasks. This is the subconscious mind at work.

Freud developed the 3-level model of the mind, which is often represented as an iceberg: the conscious as the tip, the subconscious just beneath the surface, and the unconscious, buried below. The subconscious mind makes up 95% of the brain, while the conscious mind only 5% (Szegedy-Maszak, 2005). If we can learn how to access our subconscious, we have the power to unlock our full potential.

The Reticular Activating System

The Reticular Activating System (RAS) is a network of neurons that act as a filtering system between the conscious and subconscious mind. As our brains cannot absorb everything that is happening around us, the RAS controls the information that goes into our consciousness. It exists as a mechanism for survival. If we had to consciously think about every small action we take throughout the day, our energy would be depleted for when we need to be alert.

How can we use the RAS to change behaviours?

The RAS reinforces behaviours we have learned to do automatically. To change a behaviour, the neural pathways need to be reprogrammed to create a new response. For example, if we want to start waking up earlier but have the belief that we’re not a morning person, it will be difficult to suddenly start waking up earlier. We have to first become aware of the thought that may be holding us back—‘I’m not a morning person’—and shift that to a narrative of why we might enjoy the mornings, what we want to achieve by waking up earlier, and repeat the action until it becomes automatic.

This is also known as neuroplasticity: the brain’s ability to rewire pathways to create a new behaviour response. Researchers have also concluded that to truly change a habit, we have to see the value of the new goal and the reward. So, how can we begin to bring the subconscious into awareness, shift our habits, and set ourselves onto the path of success?

Visualising success

The first way is through visualisation. Visualisation has long been used by top performers and athletes competing for the Olympics to prepare for the day of the events. It requires imagining the exact conditions you will be in, what it’s going to feel, smell, look like, and envisioning how you’re going to succeed.

As Frank Niles Ph.D., explains: ‘visualisation works because neurons in our brains, those electrically excitable cells that transmit information, interpret imagery as equivalent to a real-life action. When we visualize an act, the brain generates an impulse that tells our neurons to “perform” the movement. This creates a new neural pathway that primes our body to act in a way consistent to what we imagined.’ In other words, if we see it, we can believe it.

Take the time to pause

Meditation is a powerful tool to bring the subconscious into awareness. Studies have shown that practising mindfulness and meditation can help with depression, chronic pain, anxiety, and a variety of other mental and physical conditions. Meditation also aids in rewiring the brain’s circuits by increasing the amount of grey matter, which improves emotional regulation and impulse control. It gives us more control over our subconscious behaviours and leads to better decision-making that aligns with our goals.

Write down thoughts

Since the subconscious mind absorbs information that the conscious mind does not have the capacity to process, it contains a wealth of data, waiting to be accessed. Many high-achieving individuals swear by morning pages, which is the daily practice of freewriting in the morning before starting the day. As you write, it’s important not to edit or get caught up in spelling and grammar. This is the time to see what may come up without the conscious mind interfering.

Journaling is also a great way to define our goals. Unlike morning pages, this is best to do at night before bed to clear the mind for sleep. By writing down what we want to accomplish, our goals for the future, and how we want to achieve them, we bring them into awareness.

Get adequate rest

We often underestimate the value of a good night’s rest. Sleep, however, is essential to giving our minds and bodies the time to reset; it is when the brain recharges and processes information from the day. In fact, studies have shown that having adequate sleep, seven to eight hours a night, improves memory, regulates metabolism, reduces fatigue, and improves cognitive and behavioural function. The subconscious mind is more likely to repeat old patterns if it’s running on empty.

Consistent practice

Tapping into the subconscious and rewiring neural pathways takes time. Change will not occur overnight. By becoming aware of our subconscious thoughts and behaviours, implementing techniques such as visualisations, meditation, journaling, and getting enough rest, we will soon begin to see the positive impact on our daily lives.

More On Meditation

References

Eugene, Andy R, and Jolanta Masiak. ‘The Neuroprotective Aspects of Sleep.’ MEDtube science vol. 3,1 (2015): 35-40.

Berkman, Elliot T. ‘The Neuroscience of Goals and Behavior Change.’ Consulting psychology journal vol. 70,1 (2018): 28-44.

Clarey, Christopher, ‘Olympians Use Imagery as Mental Training.’ The New York Times. February 22, 2014.

Luders E, Toga AW, Lepore N, Gaser C. ‘The underlying anatomical correlates of long-term meditation: larger hippocampal and frontal volumes of gray matter.’ Neuroimage. 2009 Apr 15;45(3):672-8.

Niles, Frank, Ph.D., ‘How to Use Visualization to Achieve Your Goals.’ Huffington Post. June 17, 2011.

Szegedy-Maszak, M., ‘Mysteries of the Mind: Your unconscious is making your everyday decisions.’ U.S. News & World Report, February 28, 2005.

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Business people often have a curious fascination with sports. It is not difficult to see why. Peering past the corporate suits vs. sports jersey attire comparison, there are several parallels between finance executives and elite athletes. In both cases, there is fierce competition to contend with, goals and targets that have to be met, strategies that have to be formulated, and success is contingent on a mix of tactical acumen, hard work, perseverance and patience. However, there are several other lessons that CFOs can extract from the lives of elite athletes. Some of them are presented below:

1 Build a team where each member has specific strengths

Out of all the C-Suite, the CFO has arguably the most diverse job description that can range from strategic planning with the CEO one day to raising capital from institutional investors the next. With such a complex set of responsibilities, it is difficult for one person to handle all parts of the job. This is where the team comes in. By building a team where each member brings in unique skill-sets and/or expertise, the CFO can mobilize and deploy workflows more efficiently. This is comparable to sporting teams where the role of a defender in soccer is vastly different from the role of a forward. Because of this differential, coaches scout for different qualities when recruiting for each position. A CFO would do well to take a leaf out of that book and build a diverse team accordingly to accelerate results.

2 Go beyond the numbers

By definition, finance teams think in numbers. Targets for finance teams tend to be quantitative e.g. achieving cost savings of €x per year or generating return on investment of y%. While this is important from a shareholder value creation perspective, humans by nature tend to have deeper motivational needs. When sports teams embark on a new season, they don’t think in terms of “This year, we are going to win x number of trophies”. Their mindset is more geared towards the processes and work ethic that they would have to maintain to achieve a specific vision. As a CFO, motivating your team in a similar fashion can be equally productive. Instead of simply defining the level of cost savings that need to be delivered organization-wide, encourage employees to come up with new ways to improve processes or bridge organisational gaps. Rather than mundane targets, this could be a way to revitalise your team to scale greater peaks.

3 Engage with your teams

Sports teams have long recognized the value of engagement in rejuvenating a team. That is why you see owners cheering on their teams from the sidelines, particularly in crunch games. In business, most organizations tend to have a more siloed mentality where C-suite executives are tucked away in their corner offices. Nonetheless, studies have shown that executives that engage on a regular basis with subordinates tend to outperform those that follow the archaic boss-subordinate model. The reason for this is simple. When employees are spoken to by senior members of the organisation and/or asked their opinion about key issues, they feel more valued and involved in the team. This then manifests into enhanced output as they feel a stronger sense of accountability to their work.

While business and sports may only seem to intersect at broadcasting deals and large sporting events, there are plenty of lessons that are transferable between top-level athletes and corporate professionals in senior positions. By inculcating the root causes of the winning mentality that these athletes foster, CFOs and other members of the C-suite stand to gain substantial qualitative and quantitative benefits if done right.

As the Apollo 11 descended onto the Moon’s surface, the world collectively held its breath. The seconds ticked by, the tension rose… and yet in the midst of it all, the occupants of the rocket itself commandeered by one Neil Armstrong managed to hold their nerves at bay and execute a successful landing. On the 50th anniversary of the landing, it’s astounding how many leadership parallels can be drawn from it to the modern corporate landscape. While Armstrong never aspired to business leadership, choosing instead to live a more low-key life as an engineering professor, some of his traits are easily comparable to those of modern industry icons.

A humble man is a trusted man

Despite his monumental achievements, Armstrong insisted that they wouldn’t have been possible without a stellar team of co-pilots and engineers. While his Apollo 11 mission will go down in history, he was the first to recognize that it was built on the progress that Missions 1 to 10 had delivered. Each “failed” mission got them closer to success and Armstrong was wise enough to say that he was merely the successful product of a solid foundation. When leaders recognise the efforts of those before them and those with them, they cultivate a higher degree of trust than those who are transparently self-absorbed in their own fame and fortune.

Strategy is nothing without execution

While descending, the spaceship’s intended landing site was already marked out previously. However, upon getting closer to the site, the astronauts realised that it was covered with rocks and debris that would decimate the ship. Jumping into action, Armstrong took manual control of the ship and steered it away onto a safe landing site battling against time as the available fuel ticked down. In today’s environment, shareholders and investors demand intricate long-term strategic planning and roadmaps. However, as important as those are to provide direction to the company, an equally important aspect is adapting to circumstances as they arise. For Apollo 11, it was too late to abort the mission. The stakes were high, and Armstrong stepped up when it counted. Modern leaders would do well to take a page out of the astronaut’s book and steer the ship to safety when adverse circumstances dictate it so.

Adversity can be a great friend…or a woeful enemy

“I think we’re going to the moon because it’s in the nature of the human being to face challenges. It’s by the nature of his deep inner soul,” is a famous saying attributed to Armstrong. Business and political leaders sometimes have a tendency to operate on a short-term view with a myopic “I can’t allow this to happen on my watch” attitude. In doing so, they miss navigating challenges that would elevate their reigns to the next level if done right. In a conducive macro-environment, after evaluating and mitigating risks, taking the leap of faith is much more rewarding than kicking the can down the road for your successor to deal with.

Compartmentalise and conquer

On a day-to-day basis, we are faced with competing tasks and priorities that demand our attention and time. Successful people, however, demonstrate two key traits. The first is the ability to compartmentalise to focus entirely on the task at hand. Armstrong said that in the two years prior to the mission, he was focused on validating and verifying every technical detail to ensure its accuracy. During the mission though, none of that weighed on his mind and his sole objective was to pilot a successful landing. Being weighed down by the “what ifs” at crunch time only serves to distribute your mental resources away from the task at hand. The second trait is focus. How many videos have we seen of athletes celebrating on the cusp of the finish line only to watch in horror as a competitor overtakes them and wins by inches? When completing a project, an “it isn’t over till it’s over mindset” can help prevent this.

Consistent Excellence

I guess we all like to be recognised not for one piece of fireworks, but for the ledger of our daily work.

Neil Armstrong

A “flash in the pan“ story captures your imagination for a while, but to be truly distinguished, a track record of consistent excellence is paramount. Plenty of investors have made 100%+ returns in one year, but Warren Buffett is the guru of investing for a 50+ year track record of delivering outsized returns for investors. Neil Armstrong understood this as well as evidenced by his quote, “I guess we all like to be recognised not for one piece of fireworks, but for the ledger of our daily work.” While celebrating the small successes and milestones is important, having a commitment to the greater cause and not allowing yourself to rest on previous laurels goes a long way in achieving your ultimate objectives.

Finding the right leadership talent is increasingly important in developing competitive advantage. Research published in the Harvard Business Review suggests that those with superior talent strategies will have a greater likelihood of excelling in their sectors. Getting recruitment right is seen as critical to this. These findings are also supported by respected management consultancy firm, McKinsey & Company. McKinsey undertook research identified that, “Superior talent is up to eight times more productive”. What is more, the productivity gap between average performers and high performers is at its greatest when job roles are of very high complexity – such as in the case of executive roles.

Choosing between executive search services in Ireland essential, especially since the right leadership in key roles incfluence the productivity of your teams.

In Ireland, the executive search process has distinct differences from that in other nations. This is due to the culture and importance of local networks. Understanding local company knowledge is key to a successful executive search in Ireland. The information that follows will help with understanding how the executive search process works in Ireland, and how this differs to other places.

A great executive search Ireland is made up of 12 steps, and these are now explained.

Executive search in Ireland – the 12 steps

Step 1: Establish client needs

At the outset, a meeting between the client and the executive search team is required to identify client requirements. These will include an overview of the role and time frame for filling the post. The team will ask questions to find out more about the company. They will also probe the client to gain an understanding of first thoughts about the type of person who might be a good match for the role.

Step 2: Analysis phase

Further analysis is required at this early stage to maximise the search opportunity. The executive search firm will analyse the company culture to ensure the candidate selected will be an appropriate fit. This is one of the most important factors, supported by a study showing that 84% of recruiters believe this to be the case. Other than this, further analysis may also include introductions to others in the executive team to gain a clear understanding of the personality profile needed to succeed.

Step 3: Clarify budget

Understanding the benefit structure for Executive Searches in Ireland is very helpful in developing the right budget. In turn, having the right budget is important so that the role will be compelling for the right candidates. The search firm can help advise the client in this area to ensure the benefit structure is right for the position. Expertise in the Irish recruitment market is very beneficial in this regard.

Step 4: Development of a person specification

Following the analysis the person specification is built. This includes key information that will help with an executive search in Ireland.  This is especially important for leadership positions, as they will influence the culture and productivity of your team. It achieves this by pinpointing the essential and desirable skills and qualifications that are sought. It also describes the role and responsibilities that the successful candidate will perform.

Getting this right is critical as it shapes the whole recruitment process. It also needs to attract optimal candidates and deter those that are unsuitable. When done well, this document helps to define the employer value proposition. A well thought out person specification will provide indicators to potential candidates about the company’s vision, what it values and the type of person that will succeed.

Step 5: Scan networks

Local networks can be a very useful source of information for executive search in Ireland. Through drawing on these, it may be possible to identify suitable targets that would be a good fit. A locally based firm with a strong network has the advantage in knowing where to look. Our services are often more effective because of our well established network of leadership talent. Given that private networking is a key tool that executive recruitment firms use in identifying suitable candidates, it is worth asking some questions about the company’s networks before selecting a firm.

Step 6: Review local and international talent

Both local and international leadership talent opportunities should be reviewed. With a population of just 4.9 million, Ireland has a relatively small pool of leadership talent to draw on, and in some cases “glaring talent shortages. For this reason it is beneficial to consider international talent too. A good executive search team will have a network that includes both local and international leadership talent in a variety of sectors, or in the case of a specialised firm, in the industry they focus on.

If you are using an Executive Search Services Company in Ireland, make sure to ask them about their network.  This is one of the strongest points of working with Lincoln.

 Step 7: Build a short list

Further search strategy techniques are deployed to develop a suitable short list for the client. This requires market analysis and reviewing tools like LinkedIn to find candidates. The firm also scans its database of candidates to pinpoint suitable matches. Important areas of focus include whether the potential candidate is a good cultural fit, and the level of interest and commitment they may have towards this new opportunity. This helps with analysing turnover intentions. Given that the recruitment process is so expensive, this is very important. All of this research, along with the analysis of networks and local and international potential will be utilised to build and refine a short list of the right leadership talent.

Step 8: Candidate qualification and refinement of short list

Candidate qualification is required to narrow down possibilities. Through a meticulous matching process, the candidate list is whittled down to those that are a close fit. This includes interviews with potential candidates to establish capability and interest. A basic referencing process is also performed for any candidates that will be put forward.

Step 9: Handover of short list

One of our core services is to organize the list to make it efficient for you to conduct the next phase of hiring.  A short list is passed on to the client for the recruitment process to continue. By this point, there will be no more than five potential candidates. More detailed referencing checks are performed at this stage. Before the client makes a final decision, the executive search firm can weigh in if needed.

Step 10: Make offer

Once the client selects their candidate, the executive search firm will make an offer to that individual. At this level there is normally some negotiation around the benefits package and start dates, among other factors.  One of the services that your search  team can help with is going over these offer details. Good executive search firms will be experienced with helping the candidate and the company come to an agreement that works for both parties.

Step 11: Onboarding

One of the incremental services that the executive search firm may include is helping with onboarding process of your new leadership talent. This varies depending on the contract agreed with the executive search firm at the outset. Onboarding services are often seen as separate from recruitment, when in fact they are integral to the process. Recent research in Ireland shows that almost 50% of employees leave a job within a year. In a nation that is at near-full employment it is a job-seeker’s market. Getting onboarding right is important to help the candidate feel comfortable in the early days at the new firm, and to pinpoint any issues that arise in the initial period.

Step 12: Follow up

The very best executive search services includes one final step. This is follow up with the client and the candidate to review how it is going. Following up with both helps ensure satisfaction is achieved. Similarly to onboarding, it will help identify issues that might otherwise be hidden, leading to executive turnover if not addressed. Good follow up also allows the executive search firm to take on board any feedback and improve.

Conclusion

Following the 12 steps of executive search Ireland helps to ensure that the right candidate is hired. From having a clear understanding of the job role and person needed from the outset, through to onboarding and follow up, locally based executive search teams in Ireland are well-placed to help.

As a specialists executive search services firm in Ireland, we have the local knowledge that will ensure your executive search in Ireland runs smoothly. We can draw on our extensive local networks to help identify top talent for your executive team, no matter the industry. Get in touch to see how we can add value to your executive search process.