A Conversation with Deborah Snow Walsh
Debbie Walsh joined TalentRISE last spring as a Managing Director, having served Fortune 100 companies in executive search for more than 20 years. This has given her keen insights into what CEOs really want in terms of talent and how to deliver on that. In the conversation below, Debbie shares her opinions on several current hiring trends, including hiring for innovation, diversity recruitment and what she calls the “big five” competencies that all top executives need to possess to be successful.
Read the interview with Debbie below and learn more about her professional experience here.
Question: In your opinion, why is executive search still relevant today? Skeptics will say you can fill positions using in-house resources, referral networks and LinkedIn.
Walsh: First, to answer that question, let’s look at how important having the right talent really is. Talent is top of mind for CEOs; it’s almost always the first priority on the lists generated by survey after survey of the executive suite. What I call the “big five” are the core competencies that define top talent; these are the behaviors that every CEO is – or should be – looking for in the talent that he/she hires. The “big five” are the clearest indicators of top tier performers: the ability to articulate a clear vision; to drive financial results; to be agile while negotiating change; to demonstrate ethics and integrity and finally, the ability to develop people. The final competency is particularly important as it means understanding that people make you better and you make people better. It’s about lending a hand to those above you as well as those below.
So, to address this question about whether a company can use LinkedIn or employee referral networks to hire people as effectively as a dedicated executive search professional, my take is that finding someone in possession of all of “big five” is exceedingly difficult. Making a mistake is also risky and risk is not good when you are hiring people with cash compensation starting at $300,000 on up.
Finding people with the knowledge, experience, skills, credentials and also the “big five” also takes time. And no one really has time these days. I just had a senior banker at a global bank tell me why she hired me for a search. She told me, “You took this project off my desk, you were easy to work with, you found the right person and you got the job done.” That’s what it’s all about.
Question: Where is the greatest talent “hurt” right now?
Walsh: In my experience, which is most likely influenced by the fact that I work closely with so many, the CHRO (Chief Human Resource Officer) role is experiencing enormous change. In fact, I participate in a project called CHREATE, officially described as The Global Consortium to Reimagine HR, Employment Alternatives, Talent, and the Enterprise. The group is composed of top CHROs from large companies around the globe who are dedicated to envisioning what HR will look like in 2025. The overarching themes driving our project are twofold: talent and finance. In other words, we’re focusing on ways HR leaders can ensure that they have the right talent and that talent can produce.
This translates into HR taking on responsibilities that previously have been relegated elsewhere. As an example, think about how HR today needs to deal with the impact of the physical location of employees. Ten or more years ago, you may have had 60,000 employees spread across 5 or 6 corporate campuses. Today, with talent working virtually, employees can be spread all over the globe, working from corporate sites, their homes, hotels, client locations or possibly even all of the above during the course of a single week. That has huge implications for the profession of HR as now HR is tasked with its traditional responsibilities, from compensation and benefits management to new areas with “scope creep” including jobs previously categorized as “real estate” or “premises management”. Another area is internal communications, previously most often the bailiwick of marketing departments. Today, HR is increasingly tasked with ensuring a unified organization when employees are largely virtual. We’re even starting to see titles such as Chief Employee Experience Officer, which is miles beyond the HR roles of yesterday.
Question: Talking about “the employee experience” raises the issue of retention. Your job is all about placing people; what advice do you have regarding keeping them?
Walsh: First of all, you need to make sure that new executives are quickly made to feel are part of a team and don’t feel like a cog in the wheel. You are hiring these people to deliver so it only makes sense to let them know that their thoughts and ideas are valued and respected.
At most organizations, there is a realization that a significant onboarding process is absolutely critical. Here at TalentRISE, we work with an outside coaching company to provide that service to our executive search clients through an independent, outside party. It’s working well and really is very effective throughout the most critical times, at 30-60-90 days into the executive’s new job.
I personally also stay in touch with my clients and the candidates I place throughout the first year. That’s when the hiccups will happen.
Question: Throughout your career, you’ve made diversity a focus of your work. Can you describe your philosophy and your approach?
Walsh: When I started in this field in 1995, none of the big firms were thinking much about diversity and, if they were, the tendency was to focus on just the visible dimensions of diversity, such as race and gender. In broadest terms, the top echelons of corporate power were composed of straight white guys and that’s where the hiring focus was. Today, that reality has shifted somewhat but it hasn’t been a major as many of us had hoped. My daughter is about to enter the job market where females still make only 78 cents on the dollar compared to men. That’s disappointing.
Having said that, I am delighted to work with many organizations that walk the talk on diversity and practice equal pay for equal jobs. I am passionate about bringing a diverse slate of candidates to the table. We all know that diverse employee and management teams, as well as diverse boards, make good business sense. I am particularly gratified, especially in industries where we are starting to see demand outstrip supply, that companies are beginning to value age. It’s wonderful to bring people back who may have lost jobs during the recession but want to work and apply what I call that “the maturity of judgment”. That judgment takes time to develop. Companies who value it can access great brain power while transitioning skills and experiences to the next generation. But, generally speaking about diversity hiring, it won’t work unless the CEO is devoted to it.
Question: Several industries today are shifting their focus on hiring from the outside, to access innovative talent to transform their markets. Are you seeing that as well?
Walsh: It’s definitely a trend. To me, creativity and innovation are part of diversity. So looking to other industries can be incredibly valuable if you go about it in a smart way. I often need to convince the hiring manager to look beyond the competition. As a professional executive recruiter, I then do the research to develop the list of companies and the individuals we want to target inside that company so I can strategize how we go about it.
Question: You’ve had experience working within HR organizations. What’s your top takeaway from your days as an in-house talent acquisition leader?
Walsh: Here’s what I’ve learned from sitting on both sides of the desk: the best hiring process starts when everyone who will touch the candidate in some way meets in the same room at the same time. Otherwise, Mary’s and Bob’s and whoever else’s’ differing ideas of the top five candidate qualifications will not ever be reconciled. This way, the negotiation on what’s important to each decision-maker is completed before the search starts. That saves not just aggravation but also time.