Recruiting Success Story: Succession Planning for a Stable Company
Being a heavy metals manufacturing recruiter is incredibly rewarding. It’s especially gratifying when we can help a company with a challenging transition. Here is an example of a recruiting success story where we solved a company’s succession planning challenge.
The Company
Our client was a construction company who manufactures construction-related equipment. The company is a successful, privately held business worth $40-50 million. One of the most unique aspects of the company is that they still employ 50 employees who started at the company thirty years ago in the early days of the organization. This level of retention shows that the business is doing something right. We previously worked with the client to place a mechanical engineer.
The Challenge
The company needed to hire a new CFO. The owner’s wife currently held the position, but she decided to retire. They now needed a replacement for her. The retiring CFO struggled to come up with a comprehensive job description for the role and the company experienced many challenges trying to find a qualified candidate, as many candidates either weren’t a good fit for the company or didn’t have the right qualifications.
The Process
We worked closely with the retiring CFO to tease out an accurate needs assessment so we could develop a successful job description for the role. Fine-tuning the job description helped attract candidates who were better fits for the company and the position. We also worked with a third-party accounting firm who had tight connections with the client company. We determined that they should lead the first interviews. Patterns showed if the third-party accounting firm liked the candidate, the client also liked them. The accounting firm had a clear understanding of what kind of person the company needed for the position because the accounting team and the CFO work closely with each other in day-to-day operations.
The Solution
In the end, we successfully found a candidate who fit the company’s needs and the client was able to fill the role. The client felt an immediate sense of relief because they desperately needed to fill the position, and we found them a candidate who fit the role perfectly. The accounting team loved the new employee. The client told us that we were the best search firm they had spoken with and they were impressed the thoroughness of our process. The retiring CFO is supporting the new employee and assisting the company through their succession planning. Then, she will be able to retire fully.
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