With a surge in the economy, the business of executive search has received a boost and is busier than ever. Cutting edge improvements in technology have made it possible for recruiters to reach out to talent far and wide. Rewind back to a decade ago and the picture was not as cozy with job application being a tiring and complex task. Newspapers were the only source of advertising and people skimmed through scores of newsprint to find their dream job. Setting the ball rolling Today more and more people are using hand held devices to discover their next job. Handy smartphones make the job easier and this fact is backed up by research. Recruiting Today Interviewing was and still remains the most important aspect of selecting candidates. However what has changed is the manner in which interviews are conducted again thanks to technology. Skype interviews have fast replaced traditional face to face interviews. They score on the phone interview which is only voice based. Being present aka being online Today, an online presence actually translates into being present. Search engines are great but looking up a firm or a service and realizing that they do not have a substantive online presence can be uncomfortable. A well planned and informative website is of great utility to job seekers for whom researching an organization’s website is one of the best ways in which they can investigate a firm’s culture and decide whether they would fit well. From the employers’ point of view too, a well laid out website would help attract the best candidates would be well advised to ensure that their online presence is a true reflection of their organizational goals and vision. Another important aspect is that prospective future employers can learn a great deal about applicants from their personal online presence. Candidates should be careful about what their internet personality portrays about them. Piecing it all together The revolution ushered in by the social media has been swift and extensive. From Twitter to LinkedIn to Facebook, there is a platform to suit almost every aspect of both work and leisure. Aside from social media’s ability to locate and target particular candidates, social media is also a valuable platform upon which recruiters can advertise some of their most desirable vacancies. After all, creating waves and catching attention is like a booth capture in the tough and competitive job market.
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A large chunk of the world business arena is contributed by family businesses. Various forms and typologies of these exist and often it has been difficult to fetch a single applicable definition of the family business system. The different aspects of this unique phenomenon involve its form and level of family influence, ownership and inter-generational succession. The various structural elements of identifying a family business include a multi-generational influence of family on a firm’s policy, objectives and ownership control by members of a family. It may also include ownership by a single family or individual or majority ownership by single family. Famous global family businesses include names such as Cargill, Levi-Strauss, Marriott, Wal-Mart etc. All these companies have a strong presence in India as well. There is also different organisational type such as family-owned and family-managed businesses. A family owned is for profit in which majority of shares are owned by members of a single extended family. In comparison, a family owned and managed business is one in which not only are majority of shares owned by family members but family members are in active participation in the top management. A family owned and led company goes a step ahead. It shows the former characteristics and also the business has active participation by at least one member of the family on board of directors. In such an enterprise family members have control and influence over the company’s goals, strategy and culture. There are many other types of family business which do not come under any traditional model. Today there are many forms of family business which display tradition family, conflict family and entrepreneurial traits. Also the degree of involvement can range from royalist, mixed management to professional management. The culture of the organization may range from paternalistic to democratic to participative and finally professional. The management style is indicative of the generation running the business and passing the baton that is succession is always a major decision. The inter-generational goal congruency is a determinator of organizational success. Despite the various models and studies in this field, it remains a complicated subject and one that is evolving as various new designs of family businesses crop up with time. These new manifestations further extend the typologies and definitions of family businesses. These businesses have their own unique dynamics related to the emotional family unit, succession and leadership style. Top executive search firms cater to family businesses and their unique needs in providing them with the right talent and executive coaching to aiding succession planning. |
AuthorCornerstone India is a leading player in CXO Search, Board Search for Independent Directors and Leadership Advisory services. Archives
July 2023
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