Summer Newsletter 2010

Issue 6, Summer 2010

Insights is an eNewsletter published by Carlson Search Group.

From the President

Greetings from Carlson Search Group! It's been a while since we've sent out a newsletter. These have been difficult times for most of us, and, as you might imagine, the search world has been no picnic. But the news is improving. The economic forecast is better, markets have generally stabilized, and our business is picking up. We trust you are finding the same to be true both in your company and in your industry overall.

You might have found yourself hiding under your desk for a bit, during the worst of it all. Now that the storm is past, we've turned our focus to the big picture and what it looks like for our clients. We put our heads together with Russell Jensen, colleague and founder of Jensen Consulting, to co-author a piece addressing the "what next?" question that many of us are asking ourselves. We've included a condensed version in this newsletter. If it piques your interest, be sure to visit our website (www.carlsonsearchgroup.com) and click "News and Resources" to download the full printable article. Our goal in making this piece available is to provide a valuable resource for you as you move forward, adjusting your strategy and leadership to fit this "new normal."

Also in this issue, you'll find a follow-up piece on the importance of having a great hiring manager, a review of Nat Stoddard's new book The Right Leader, and a spotlight on one of our recent searches. Don't hesitate to contact us if we can be of assistance in any way. Carlson Search Group is here to serve you, and we look forward to continuing and creating strong partnerships with our current and future clients.

Gregg Carlson

President, CSG

Embracing the "New Normal" In Your Business and Leadership Strategies

The following is an excerpt from an article by Gregg Carlson and Russell Jensen. Click here to access the full text of the article: http://www.carlsonsearchgroup.com/newnormal

The last few years have been tough for all of us, but we survived. Now what? As the economic recovery takes hold, we'd like to offer you some insight to help you move forward using four proven strategies: opportunity analysis, talent assessment, leadership development, and executive recruitment. Implementing these four steps will help pave your way through the "new normal" to an even brighter future. Let's face it: Doing the same old things and expecting different results now just won't work. Instead of living in an era of hope to get back to the way things were, decide to take action based on where you are right now.

Step 1: Take a Fresh Look at Your Opportunities

Start by looking at what your company has to offer, identifying potential strategic opportunities and ensuring that you have the right executive team in place. Realize that developing a concrete long-range plan is no longer your best bet. Your new strategic plan will need to be more dynamic, adjusting to fit your "new normal."

Step 2: Conduct a Thorough Assessment of Your Executive Talent

Today's challenges and opportunities may demand a new type of leader within organizations. Assessing the strengths and weaknesses of your leadership team will be critical in your ability to move forward. What types of leaders are leading your company? Do you have people you can get ready, and how long will that take? Start at the top and move down through senior ranks. Assessing performance and reviewing talent allows leaders to evaluate themselves and their colleagues as they view key people through the eyes of others in the business.

Step 3: Implement Proven Executive Leadership Development Strategies

Your company most likely has many talented executives on board whose skills could be more fully developed and utilized. Three of the most important development strategies are as follows:

Executive Coaching, which provides leaders with perspective and unlocks performance;

Job-related Development Assignments, which offer fertile ground for learning and building relationships critical to future success; and

Leadership Team Development, which enables existing leadership and project teams to work efficiently together and maintain forward momentum.

Step 4: Fill Any Existing Gaps In Your Executive Leadership Team

No matter how talented your current team is, or how good your company is at developing leaders, you may still need additional skill sets to achieve your strategic goals. Adding the right executive in the right position, with a new or different perspective at this critical juncture, should enhance your company's ability to take advantage of the opportunities presented. When your company does choose to "go to search," be sure to involve your Board of Directors and the appropriate executives in determining the skills, background and attributes necessary to succeed in the role. Set the bar high, and make sure the search is conducted as broadly as possible.

The Bottom Line: Leadership Drives Success

No matter where your company and your industry are in the economic recovery, step back and analyze your current business opportunities and the strength and readiness of your executive team. If you've been sitting on the sidelines, it's time to jump back into the game. Make no mistake about it: The "new normal" won't be normal for long. Moving forward, your company's success will be determined by your leadership, now more than ever before.

The Hiring Manager Really IS a Big Deal, Part 2

In our last issue, we discussed the role of the hiring manager in executive search and the importance of better understanding, polishing, and communicating the manager's story throughout the process as critical to the success of a search. We made the point that, for any given search, although the location, organization, position, and compensation package may all be excellent, the hiring manager's personality and approach also play a central role in marketing the job to candidates.

The hiring manager's background, track record, and hot buttons all have the potential to raise a red flag for an interested and engaged candidate who realizes that this new person may play a key role in his or her future. Conversely, a hiring manager who understands this crucial role can be a tremendous positive influence, providing accurate and valuable information for the insightful candidate.

Companies need to create organizational awareness around this issue, identifying the strengths and weakness of the hiring manager's style and ensuring that the hiring manager understands the scope of his or her role in both the search process and the future of the new hire. Some managers understand that one basic advantage of becoming an effective manager is that more and better people will want to work with you. It's a bit of a no brainer--the better you manage, the better people you will attract and retain. This is true of both internal and external candidates. So your hiring manager really IS a big deal in any recruiting process.

When you are filling a position, then, be sure to help your search consultant get to know this individual--what are the hiring manager's strengths and weaknesses? Management style? Track record in developing staff, encouraging promotions, et cetera? This step is vital in helping to create a positive but truthful picture for promising candidates, preparing them for what to expect in interviews, so that they can ask good questions and go in with their eyes open. On the flip side, be sure to help your hiring manager understand what is expected as well.

When information is handled honestly and openly, the tone is set for great communication between your new hire and the hiring manager. This approach truly offers you the best chance to recruit someone who will fit with that manager, reduces negative surprises and increases your chances of success.

Creating organizational awareness around this issue, as we said earlier, is key. Develop an organizational culture that raises the bar, establishing and communicating clear expectations for your hiring manager and your candidates, and everyone wins.

Search Highlight: West Bank Names New CEO

The Des Moines Business Record highlighted one of our recent searches in their April 10, 2010 issue*:

"The president of Carlson Search Group transmitted a lot of energy and information back and forth as he assisted West Bancorporation Inc. in the recent search that culminated in the selection of Dave Nelson as the bank holding company's new president and CEO. The search committee selected Carlson's firm from among about 12 to 15 executive search groups that approached the company, said Jack Wahlig, chairman of West Bancorporation's board of directors. 'It was a very competitive process,' Wahlig said. 'That was how they spent the first few weeks of their effort, and it paid off. Gregg did an excellent job for us; we're very pleased with the process and the successful candidate.'"

West Bancorporation is a $1.5 billion bank holding company. Dave Nelson, the new president and CEO of West Bancorporation Inc. and chairman and CEO of West Bank, assumed his new roles April 1, 2010. Nelson has over 25 years of experience in commercial banking and a background in credit administration and relationship building. Wahlig announced in a March news release, "Dave's depth of experience and familiarity with the Central Iowa market provide a perfect fit for our bank's culture, our customers, our shareholders and the communities we serve."

Frank Berlin, West Bank board member and a member of the CEO search committee, shares his perspective on the search: "At every stage of this search Gregg has exceeded our expectations. He brought an initial slate of 12+ great candidates for us to consider. I was both surprised and impressed at the breadth and depth of this group. Gregg also played a key role in the negotiation process and closing on our selected candidate. I have been very impressed with how he approaches his business and the skills that he brings to the table. He is a polished communicator and straight shooter who met every deadline and perceptively analyzed our company's needs, the candidate marketplace, and the backgrounds and skill-sets of the candidates."

*To access the full text of the Business Record article by Joe Gardyasz, click here.