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Bright Horizons: Exploring Opportunities for the Affordable Housing Industry in the USA in 2024

Bright Horizons: Exploring Opportunities for the Affordable Housing Industry in the USA in 2024

The landscape of affordable housing in the United States has always been a topic of keen interest, with 2024 poised to bring new dynamics to the forefront. As we embark on a new year, the affordable housing industry in the United States is on the precipice of transformative opportunities that hold the potential to reshape how we confront housing challenges.

In 2024, several factors will contribute to a landscape rich with potential for growth, innovation, and increased accessibility in the affordable housing sector. Let’s dive into the promising opportunities that await industry stakeholders.

1. Public-Private Partnerships (PPPs):

One of the significant opportunities lies in the expansion of public-private partnerships (PPPs). Coordinated efforts between government entities and private developers can unlock funding, streamline processes, and expedite affordable housing projects. By aligning shared goals, these partnerships have the potential to catalyze large-scale developments, addressing the growing demand for affordable homes.

2. Innovative Financing Models and Incentives:

The financial landscape for affordable housing is evolving, with new financing models and incentives gaining prominence. Innovations in financing, such as impact investing and community development funds, can infuse much-needed capital into projects. Forecasts suggest that tax incentives and grants will play a critical role in empowering developers to invest in affordable housing initiatives, fostering a conducive climate for growth.

3. Technology-Driven Integration:

The addition of technology offers a golden opportunity for the affordable housing industry. From adopting cutting-edge construction methods to leveraging data analytics for market insights, technology can streamline processes and reduce costs. Smart home arrangements, energy-efficient designs, and digital platforms for property management are ready to upgrade the quality of affordable housing while making it more attractive and sustainable.

4. Focus on Sustainable and Inclusive Communities:

The shift towards creating sustainable and inclusive communities is an exciting prospect in 2024. Developers have the opportunity to go beyond building affordable homes by integrating green spaces, community amenities, and social infrastructure. This strategy not only improves quality of life but also helps neighborhoods develop holistically, fostering a sense of community and well-being.

5. Government Initiatives and Policy Support:

Government initiatives and policy reforms can act as catalysts for growth in the affordable housing sector. In 2024, stakeholders should closely monitor and engage with policies that encourage affordable housing development. Continued support through grants, subsidies, and streamlined regulatory processes can build an environment that can be beneficial to sustainable growth.

6. Addressing Housing Disparities:

2024 provides a renewed opportunity to address housing disparities and promote fair access to affordable homes. Developers and policymakers can work collaboratively to identify areas with the highest need, ensuring that affordable housing projects are strategically located to assist diverse communities. This approach contributes not exclusively to housing accessibility but also to encouraging financial and social equality.

As the affordable housing industry in the US stands at the threshold of a new year, the landscape is overflowing with open doors ready to be seized. By embracing innovative financing models, leveraging technology, fostering partnerships, and prioritizing sustainability and inclusivity, stakeholders can contribute to a brighter future for the affordable housing sector.

In 2024, the industry has the chance to make significant strides toward addressing housing challenges, making a positive impact on communities and redefining how we approach affordable housing in the United States.

Reneris is a specialized executive search and management consulting firm that provides professional services to clients seeking a high-caliber consultative partner. We have successfully placed candidates in leadership positions in the Real Estate (Hospitality, Multi-Family Housing, Senior Living) and Non-Profit sectors.

Please contact us to learn how Reneris can help you attract executive-level talent for your leadership team.

Contact Us


info@reneris.us

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Beyond Placements: How Executive Search Firms Set the Stage for Success in Talent Acquisition

Beyond Placements: How Executive Search Firms Set the Stage for Success in Talent Acquisition

Hiring is hard and so is finding senior talent at the VP, SVP, Director, and C-suite level for any company. Because of this, there is a need for executive search firms that specialize in finding these types of leaders for small, medium, and large organizations. In a recent study, a researcher from Forbes spoke with over 25 executive search firms, founders, VPs of talent, COOs, and other leaders at small and big companies. The research aimed to understand why hiring executives is harder than ever and what factors are causing this issue. According to the study, executive recruiting used to be a 20%-80% rule, which meant that 20% of the candidates were A+ players and 80% were not the best talent. That has changed, and now it is a 93%-7% rule.

Moreover, the new world of flexibility has worsened the challenge of hiring C-level talent. Most C-level executives have now the luxury of deciding where they want to work. They do not want a standard package; they are not attracted to a full-time office type of role. Thus, successful recruiting is about reinventing the C-level role and what it looks like. Executives are more interested in a portfolio career rather than working in one place for a while. Equity is also a very motivating factor, people are willing to take a pay cut for more quality time with family, for instance, the bigger picture is now extremely important. Some people do not care about the purpose of the job as are just focused on paying bills but some others are, however, the study suggests that C-level executives would like to add value with their unique talents.

In the dynamic landscape of talent acquisition, the role of executive search firms extends far beyond merely placing candidates in open positions. Today, successful talent acquisition requires a strategic partnership that goes beyond the transactional. This article enquires into how executive search firms play a decisive part in setting the stage for success in talent acquisition.

1. Strategic Alignment with Organizational Goals

Executive search firms understand that true success in talent acquisition is associated with aligning the search process with the organization´s broader goals. By working closely with clients to grasp their long-term vision, cultural values, and strategic objectives, executive search firms ensure that the candidates they present not only meet the position´s immediate needs but also contribute to the overall success and organization´s growth.

2. Expertise in Industry Dynamics

The best executive search firms do not just possess general recruitment knowledge but are industry experts. Staying abreast of industry trends, market dynamics, and emerging technologies allows them to identify candidates with the particular skills and knowledge required to navigate the challenges and opportunities within a specific sector.

3. Proactive Talent Engagement

Beyond reacting to job openings, executive search firms engage in proactive talent mapping and relationship building. This proactive approach involves identifying and cultivating relationships with high-potential candidates even before a specific role is open. This strategic talent pool allows for quicker, more efficient placements when the need arises, contributing to reduced time-to-fill and ensuring a seamless integration into the organizational culture. Many times, executive search firms have had circumstances where a candidate did not work out for a certain role or took another offer, and then a year or more later, an opportunity came up for a C-level position and the firm reached out and it ended up being the right match.

4. Comprehensive Candidate Assessment

Executive search firms employ rigorous assessment methodologies to evaluate potential candidates thoroughly. This includes in-depth interviews, psychometric testing, and comprehensive reference checks. By providing clients with a holistic understanding of a candidate’s skills, experience, and cultural fit, executive search firms enhance the likelihood of a successful placement that goes beyond meeting technical requirements.

5. Long-Term Relationship Building

The most successful executive search firms prioritize building long-term relationships with clients and candidates. Building a longer-term relationship is a fantastic tactic to ensure that someone is a good fit. Executive search firms prefer leaders who are problem solvers and can motivate and inspire their teams. To find this kind of leader is necessary to forge relationships rooted in a shared purpose, and together, create opportunities to make that purpose a reality. This extends beyond the placement, focusing on post-placement support, onboarding assistance, and ongoing relationship management. This commitment to sustained engagement positions executive search firms as partners invested in the enduring success of their clients.

Overall, in the contemporary site of talent acquisition, executive search firms are not just matchmakers but architects of success. By aligning with organizational goals, staying industry-savvy, engaging in proactive talent strategies, conducting comprehensive assessments, and fostering long-term relationships, executive search firms set the stage for success that goes beyond placements. In essence, they become strategic partners in the growth and prosperity of organizations, contributing to the development of high-performing teams that drive sustained success in the current competitive business environment.

Reneris is a specialized executive search and management consulting firm that provides professional services to clients seeking a high-caliber consultative partner. We have successfully placed candidates in leadership positions in the Real Estate (Hospitality, Multi-Family Housing, Senior Living) and Non-Profit sectors.

Please contact us to learn how Reneris can help you attract executive-level talent for your leadership team.

Contact Us


info@reneris.us

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Top Trends That Will Shape Work in 2024 and Beyond

Top Trends That Will Shape Work in 2024 and Beyond

The world of work is constantly evolving, and as we head into 2024 and beyond, we can expect to see several significant trends that will reshape the way we work and do business. These trends are driven by technological advancements, changing demographics, and a growing emphasis on sustainability and well-being. In this article, we’ll explore some of the key trends that are set to shape the future of work.

1. Remote and Hybrid Work Models: Remote work has become a standard practice for many industries, and it’s here to stay. In 2024, we can expect to see even more organizations embracing remote and hybrid work models. Technology has made it possible for employees to work from anywhere, and companies are recognizing the benefits of increased flexibility, access to a wider talent pool, and reduced overhead costs.

Remote working was a need for many during the Covid-19 pandemic. Today and beyond, more employees and employers may choose it because of the benefits it brings to work/life balance, to be more productive by turning commuting time into working hours, or to foster a more globalized and decentralized labor force. In 2024, more will choose a hybrid working model, merging the cooperative and cultural benefits of face-to-face co-working with the flexibility of remote working.

2. Automation and AI Integration: Automation and artificial intelligence will continue to change how we work. While there are concerns about job displacement, the focus will shift towards the integration of AI as a tool to enhance human productivity. In this sense, it will be of vital importance to learn and optimize the use of AI in the workplace. Many believe that AI will not replace jobs, but rather people who can use AI will replace those who cannot. Automation will handle routine tasks, allowing employees to focus on creative problem-solving, innovation, and higher-level decision-making as AI tools are progressing to the point of offering solutions to increase efficiency in almost any task or line of work.

3. Gig Economy Expansion: The gig economy is booming, and it’s expected to expand even further. More workers are embracing freelance, contract, and part-time opportunities, and businesses are increasingly turning to gig workers for specialized skills. This trend will require organizations to adapt their employment models, focusing on agile staffing solutions.

4. Emphasis on Well-being: Employee well-being is taking center stage in the workplace. Companies are recognizing the importance of creating environments that support physical and mental health. Well-being programs, flexible schedules, and mindfulness initiatives will become the norm to attract and retain talent. Organizations today are starting to understand the significance of making sure that workers are satisfied beyond remuneration. This emphasizes more work/life balance, well-being, and personal and professional growth. In 2024, if employers are not aligned with this, it will become easier for employees to find others who will. The same reasoning applies to clients/consumers, if companies do not find strategies to exceed their expectations, as is already happening, they will easily find others that will.

5. Sustainable Practices: Sustainability will be a defining feature of work in the coming years. It is imperative to understand the importance of reducing the impact of our actions on the planet by reconsidering several characteristics of our working lives. Companies will be under increasing pressure to adopt eco-friendly practices, reduce their carbon footprint, and align their business goals with sustainability objectives. A commitment to environmental responsibility will be a key driver of consumer and employee loyalty.

6. Tailored Learning and Development (L+D): With rapidly changing job requirements, ongoing learning and skill development will be crucial. Organizations will invest in personalized learning platforms that allow employees to acquire new skills and knowledge at their own pace. Continuous learning will become an integral part of the work experience. Nowadays, education will be ongoing and will provide us with skills for life. In contrast, businesses will entail workforces to participate in ongoing training to keep skills up-to-date or reskill in new technologies, especially those concerning data and AI. An assorted series of opportunities mainly focused on online learning will be available for anyone wanting to take the initiative and constantly learn more.

7. Diversity, Equity, and Inclusion (DEI) : Diversity, equity, and inclusion will continue to be a top priority for organizations. Companies will be held accountable for creating diverse and inclusive workplaces, not only as a matter of social responsibility but also for the value it brings in terms of innovation and creativity. According to Forbes, there will be a change in workplace demographics as populations are aging, international migration is rising, workers’ skills are being boosted, and organizations are much more aware of the value that diversity and inclusion bring to any workforce. The tolerance for anachronisms such as the gender pay gap will drop, and aspects like age, race, or level of education will be less of a barrier to progression. Those who can adapt to these changes will have lots of opportunities.

As we look ahead to 2024 and beyond, these trends will play a pivotal role in shaping the future of work. Adaptability and a forward-thinking approach will be crucial for individuals and organizations to thrive in this dynamic background. Embracing remote work, AI, gig economy opportunities, well-being, sustainability, learning, and DEI will not only define the workplace of the future but also contribute to a more dynamic and fulfilling work experience for all.

Reneris is a specialized executive search and management consulting firm that provides professional services to clients seeking a high-caliber consultative partner. We have successfully placed candidates in leadership positions in the Real Estate (Hospitality, Multi-Family Housing, Senior Living) and Non-Profit sectors.

Please contact us to learn how Reneris can help you attract executive-level talent for your leadership team.

Contact Us


info@reneris.us

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Beyond Perks: The Real Secret to Attracting and Retaining Top Talent

Beyond Perks: The Real Secret to Attracting and Retaining Top Talent

In the relentless pursuit of success, organizations often find themselves in fierce competition for top talent. Businesses are in a constant battle to attract, retain, and foster the best and the brightest. Many organizations invest heavily in attractive remuneration packages, fancy office spaces, flashy benefits, and trendy perks, but while these are certainly important aspects of talent management, they only scratch the surface of what truly draws and keeps outstanding individuals within your organization, the real secret to attracting and retaining top talent often lies in something less tangible: the company’s culture and values.

Creating a Purpose-Driven Culture: Research shows that high-performers crave more than just a job; they seek a purpose, a sense of meaning, and a shared mission. Companies that articulate their values and mission genuinely are more likely to resonate with top talent. When individuals can connect their daily work to a greater purpose, it becomes intrinsically rewarding. They are more engaged and committed when they know they’re contributing to something meaningful.

The Power of Inclusivity: Diversity and inclusion are not just catchwords; they are critical factors in attracting and retaining top talent. Exceptional employees value environments where their unique standpoints are welcomed and respected. To retain top talent, organizations should foster a culture that promotes diversity of beliefs and backgrounds. It’s not just about hiring a diverse workforce; it’s about creating an inclusive space where every voice is heard and valued.

Opportunities for Growth: High-caliber employees are often driven by a thirst for personal and professional growth. Offering opportunities for skill development, training, and progression is critical. Mentorship programs and a clear career progression plan can work wonders. When individuals see a path for growth within your organization, they are more likely to stay and invest in their future with you.

Recognition and Appreciation: Recognition and appreciation go a long way in retaining top talent. Acknowledging the hard work and accomplishments of your employees can be a game-changer. A simple ‘thank you,’ public recognition or even small tokens of appreciation can boost morale and foster a sense of belonging. It’s not just about reward; it’s about feeling valued.

Flexibility and Work-Life Balance: Organizations that offer flexible work arrangements, remote options, or adaptable schedules tend to attract and retain top talent. It is key to recognize that employees have lives beyond work and honor their need for balance.

Trust and Autonomy: Micromanagement can drive top talent away. Outstanding individuals thrive when given trust and autonomy in their tasks. Allow them to take ownership of their work, make decisions, and innovate. Trust empowers, and empowered employees contribute more to the organization’s success.

Continuous Feedback and Improvement: Regular feedback is crucial. Conduct performance reviews that are constructive and forward-looking. High performers crave the opportunity to learn and grow. Use feedback sessions to set clear goals and provide guidance on how to achieve them.

Attracting and retaining top talent isn’t solely about flashy perks or high salaries. It’s about fostering an environment where individuals feel connected to a larger purpose, valued for their uniqueness, and supported in their growth. The real secret lies in creating a workplace that goes beyond substantial benefits and resonates with the intrinsic desires of unique individuals.

If you’re looking to attract and retain top talent, remember that the key is to invest in your employees as your most valuable asset. When your company culture aligns with their values and aspirations, you’ll find that the best talent not only joins but also thrives and stays committed to your organization’s success. Talent is drawn to organizations that not only promise a rewarding job but also a fulfilling journey.

Are you ready to embrace the real secret to attracting and retaining top talent?

Choose to lead with purpose, inclusivity, and genuine care, and you’ll find that the best talent will choose to stay with you.

Reneris is a specialized executive search and management consulting firm that provides professional services to clients seeking a high-caliber consultative partner. We have successfully placed candidates in leadership positions in the Real Estate (Hospitality, Multi-Family Housing, Senior Living) and Non-Profit sectors.

Please contact us to learn how Reneris can help you attract executive-level talent for your leadership team.

Contact Us


info@reneris.us

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Redefining Work: The Global Shift Towards a Four-Day Workweek

Redefining Work: The Global Shift Towards a Four-Day Workweek

In an era marked by rapid technological advancements and evolving societal norms, the traditional five-day workweek is facing growing scrutiny. Around the world, discussions are taking place about the possibility of transitioning to a more flexible four-day workweek. This article delves into the global movement advocating for this change, with a focus on its implications for the United States. We will set the context for bringing the four-day workweek concept and will navigate through some statistics and research on the topic from the employees’ perspectives to experts’ opinions about its progress and future ahead.

How the Concept Started

The concept of a four-day workweek first arose in the 70s, but the idea of working fewer hours while keeping the same salary remained an implausible wish for most workers for decades. However, after the pandemic, the increase of remote work, and the economy’s performance challenged the nine-to-five workday. Currently, hundreds of businesses around the U.S., Canada, Australia, UAE, and Europe among others, are slowly turning this into a reality for their employees.

Mostly from 2020, numerous companies around the world have tested the shorter workweek, with the United Kingdom being the country with the world’s major trial. Since then, several organizations in other countries – including the United States—have decided not to return to their usual five-day workweek. 

Sadly, while this idea is now more widespread and progressing in developed countries, there is still a lot to go for undeveloped such as those in LATAM where it seems there is not much empathy about work-life balance for employees. For instance, in Colombia, until mid-2023 the workweek was 48 hours, and now there is a law in place to progressively reduce it by one hour per week to 42 hours by 2026. Nonetheless, 42 is very far from what is being discussed in more progressive countries around the world.

The Global Context 

Nations across the globe are experimenting with alternatives to the traditional workweek structure. Countries like Iceland have successfully implemented shorter workweeks, demonstrating improved employee satisfaction, reduced stress, and maintained or increased productivity. Spain, New Zealand, and Japan have also explored related concepts, with some businesses reporting boosted employee morale and enhanced work-life balance.

To set the context, the five-day workweek has been part of the labor law in the US for almost 100 years since Henry Ford standardized it in 1926. From this point onwards, there have been many intents of officializing a law that regulates the four-day workweek but although it has been discussed in several states across the country, it has not been approved or officialized yet. All progress made in this matter has been due to companies that have willingly implemented the changes.

In spite of this, workers who experienced a four-day workweek have stated they would never return to five days unless there was a significant salary increase. The non-profit organization 4 Day Week Global (4WDG), in partnership with researchers at Cambridge University, Boston College, and University College Dublin, led an initiative to run a six-month pilot, which ran for most companies from April through October 2022, and was based on a model that works on a 100-80-100 (workers receive 100% of their pay for 80% of the time and maintain 100% productivity).

The two pilots which were based on six-month trials and included more than 900 workers across 33 businesses in the U.S. and Ireland, tried this model, and none of them expressed their intention to go back to a five-day model. This has been the world’s largest testing to assess the shortened workweek so far. In addition to many other progressive impacts, this study showed that self-reported levels of performance went up while burnout and fatigue went down.

According to TIME, 2023 is the year in which the four-day workweek has become a reality, for several reasons: 

1.It’s undeniably good for employees

When working just four days a week, having an extra day off can be an opportunity to spend more time with family and friends, to practice sports or a hobby, or to do anything employees enjoy. This can make them feel happier and will ultimately affect their job performance positively. This contributes to work-life balance and to better mental and physical health. 

2.It’s good for business

An extra day off, and a shorter work week can be a powerful factor to attract talent. High employee motivation and increased employee productivity will have a positive impact on the companies.

3.Governments are paying attention

Although many countries are still lagging in advancing to a four-day workweek as a norm in all organizations, progress has been made in some European countries. In Iceland, trials first started from 2015 to 2019 to reduce the workweek from 40 to 35 or 36 hours without reducing the salary for 2,500 workers. This initiative proved to be so successful that once the results were advertised, associations began advocating for a more widespread adoption. This led to a change in 2021 where 86% of the country’s workers had either reduced their workweek or had the right to do so. In 2019 the municipality of Odsherred in Denmark switched its 300 public employees to a Monday-Thursday schedule (without reducing their total hours overall), and in 2022, the UAE cut their workweek for public employees to 4.5 days.

Notwithstanding, significant changes are yet to be implemented, for instance, a bill before the California state legislature that required companies with over 500 employees to pay overtime after 32 hours a week was hindered and has not been taken up again since. On the other hand, while a reform that guarantees the right of employees to appeal for a four-day workweek came into effect in Belgium in 2022, that measure only reduces the workweek rather than the number of total hours that remain the same.

4.There’s no going back

Even without wider legislation needed to make the shift worldwide, the number of organizations and governments willing to try a four-day workweek is rising. The idea of making the switch is not as unfamiliar as it used to be. From trials made by 4DWG in 2022, 93% said they would either continue with the four-day week or were planning to, even though they had not made a final decision, but none said they would not implement it at all. 

The US Perspective: The challenges of implementing a four-day workweek

In the US, where the usual five-day workweek has long been the norm, the discussion around a four-day workweek is gaining traction. While many Americans still adhere to the 40-hour workweek, the arrival of remote work and changing attitudes towards work-life balance have flickered interest in exploring unconventional arrangements. However, the prospect of altering a deeply ingrained work culture brings forth a range of viewpoints.

Life is changing and so are the expectations and working lifestyle. According to the Hill, more than half of US employers are now ready to try a four-day workweek. A poll of 976 business leaders by ResumeBuilder.com and the job-seekers website, found that 20% of employers already have a four-day workweek while another 41% said they plan to put into practice a four-day workweek, at least temporarily.

If a four-day week becomes the norm, it would mark the foremost change to the US work schedule since the five-day workweek was adopted by Henry Ford in 1926. However, it cannot be said that this would be the deepest change in the American workplace. This distinction perhaps belongs to remote work, a movement that arose during the COVID-19 pandemic and shows no signs of dwindling. But there remain conflicting ideas as to whether the shorter workweek will provide enough time for workers to perform and finish the same tasks they would complete in the longer work week, and whether the salary should remain the same or should be reduced. 

Studies have found that many workers consider other benefits over payment to remain in the workplace. Some may leave a company for another that offers a significant increase in salary for the same number of hours. This could be a disadvantage for smaller companies that might not be in a position to match the salary leading them to find other strategies to retain talent. One of the strategies can be a reduction in the working time while keeping the same salary (a 32-hour/four-day workweek with no reduction in salary). This is something that many workers would prefer rather than switching to another company just for more money.

The debate about a four-day workweek hinges on whether the policy implies a decrease in hours or a conventional 40-hour week condensed to fewer days. In this sense, companies are adopting different positions. The debate leans on whether a workday should be 4 days a week working 10 hours a day or keeping the same 8 hours a day, thus working only 32 hours a week. For many people, working 10 hours per day could result in added stress and less productivity. Nevertheless, it seems that companies are trying out both approaches and figuring out the best.

Even though experts have declared that equal work can be performed in the shorter week mostly due to higher levels of productivity, they also state that the prospect of federal legislation protecting a four-day workweek standard is extremely implausible in the US, let alone in other countries. Some others have expressed the opposite, arguing that there is momentum in the market as more companies are implementing it pressing the government to act but all is still uncertain.

Currently, the majority of companies in the US still operate on a five-day workweek, but some activists are pushing through pilots for a 32-hour, four-day workweek without cutting salaries. A Washington Post-Ipsos poll conducted in spring this year shows that 75% of workers would prefer working 10 hours for 4 days versus 8 hours for 5. Similarly, 73% say they would rather work five days a week at full-time pay than four days for less pay, a sign that shows that most workers are unwilling to sacrifice income for a shorter workweek, the bets are split.

The world is changing and so are the lifestyles of employees and employers in every corner of the planet. As the world evolves, so must our approach to work. The idea of a four-day workweek challenges established norms offering the potential for enhanced productivity, employee satisfaction, and work-life balance. While the shift is not without its challenges, the global movement towards shorter workweeks signals a growing recognition that the way we work deserves a closer examination. The US stands at a crossroads, poised to embrace change and redefine the workweek for a new era.

Now, it is possible to work from home regardless of where a business is located further allowing people from different nationalities, languages, and cultures to work together. More and more, the world has become smaller and the work should be based and measured on results and not on the time spent to achieve those goals. The aim is to become more efficient and work fewer hours so that employees can have more time to spend with family or undertake other activities for leisure, entertainment, or learning development. There is still a long way to go, but it seems that we are advancing and the time to make a change is here.

Reneris is a specialized executive search and management consulting firm that provides professional services to clients seeking a high-caliber consultative partner. We have successfully placed candidates in leadership positions in the Real Estate (Hospitality, Multi-Family Housing, Senior Living) and Non-Profit sectors.

Please contact us to learn how Reneris can help you attract executive-level talent for your leadership team.

Contact Us


info@reneris.us

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Building Bridges: What an Executive Search Firm Can Do and What Candidates Seek

Building Bridges: What an Executive Search Firm Can Do and What Candidates Seek

As you probably know by now, an executive search firm specializes in identifying highly qualified candidates in executive and/or senior leadership-level positions for organizations in the public, private, and non-profit sectors. These firms are also experts in specific industries which allows them to have a market niche of clients seeking high-caliber candidates.

When executive and/or senior leadership-level candidates work with search firms, they typically have certain expectations and seek specific benefits from the experience.These candidates are looking for a partner who can help them navigate the job market and provide them with guidance and support throughout the job search process.

A lot has been researched and written regarding the kind of candidates that an executive search firm looks for to successfully fulfill vacancies from their clients. However, little has been said about what highly qualified candidates look for when deciding to work with a search firm to climb the ladder in their careers.

Thus, wouldn´t it be interesting to dig deep and find out what executives and/or senior leadership-level individuals are looking to achieve when working with search firms?

Based on research and considering certain testimonials we gathered at Reneris from some of our candidates, candidates working with search firms, look for:

1. Access to exclusive job opportunities: Candidates expect search firms to have access to a wide range of job opportunities that may not be publicly advertised. These exclusive opportunities often include senior-level executive positions and specialized roles, providing candidates with a chance to explore high-level career prospects they might not find through traditional job search channels. Shawnta´ Duckworth, Director of Enrollment Management at The Lillian and Betty Ratner Montessori School in Cleveland Ohio shared, “I believe if it wasn’t for Reneris I would have not even known about the job. They give their all in helping find an exceptional opportunity”.

2. Industry expertise and insights: Candidates might seek out search firms that specialize in their industry or field to get expert guidance on their job search. They may want to get advice on their resume or help prepare for interviews and expect the search consultants to possess in-depth knowledge about the industry, current trends, and the hiring landscape. This expertise helps candidates gain a better understanding of the job market enabling them to make informed decisions about their career paths. Andrea Osgood, Chief Real Estate Development Officer with Eden Housing based in Hayward, CA shares the value she sees working with a firm that has industry knowledge. “Reneris and Dominique have specialized in our unique industry so she is able to lean into a wealth of contacts to widen the search and find great candidates”.

3. Personalized career guidance: Search firms often provide personalized career coaching guidance to candidates. This may include resume reviews, interview preparation, and advice on how to position oneself as a strong candidate for specific roles. Candidates value this support to enhance their chances of success during the hiring process. “Nick established a close rapport with me right away and provided the support I needed to successfully get the job. He did not treat me as one more applicant. He always kept me informed on the steps and status of the process. Nick guided me through the process. His leadership helped get the career opportunity” shares Mauricio Cordova, who was hired by Episcopal Community Services of San Francisco as their first Chief Operating Officer in January 2023. Shawnta´ Duckworth summarized her overall experience, “I appreciated the personal touch. I felt like Reneris knew me personally. The before-interview prep helps get the nervousness out”.

4. Candidate advocacy: Successful search firms invest in their candidates´ success and act as advocates throughout the hiring process. They represent candidates to potential employers, highlighting their strengths and aligning their skills and experiences with the needs of the hiring organizations. Jennifer Ingram, who was hired by MidPen Housing based in Foster City, CA as their first SVP of Equity & Inclusion, was attracted to the opportunity for leadership and impact and uprooted her family from Cincinnati to the Bay Area. “I had a great experience working with Dominique. She was communicative, thoughtful, and supportive every step of the way. She provided relevant insight and took the time to understand the aspects that were most important to me. She advocated on my behalf and offered candid feedback. Even onboarding she checked in on me and ensured all was well”.

5. Improved job fit: Candidates expect that working with a search firm will lead to a better job and cultural fit with a company and opportunities that align with their skills, experience, and career goals. Ryan Cassidy, who had been commuting since the pandemic from Northern California to his job in New York, was open to exploring opportunities in his new adopted hometown. “Even though Reneris was hired by the employer, I felt like they also had my interest in mind. The even-handed/fairness of the process was good. I came to trust Dominique’s opinion and saw that she wanted to make a good match. This was definitely the right place for me, I can’t imagine a better fit”. He found his perfect fit as Vice President of Real Estate with Mutual Housing California based in Sacramento.

Furthermore, Cynthia Alvarez, who was also on the lookout for a leadership role in affordable housing, confided in our firm her hopes and desires for her next role, and the type of work environment in which she could thrive. “Reneris, in helping place me at Christian Church Homes, were true partners and put me at ease throughout the process and made sure I had relevant information throughout. As recruiters, they carry their work with integrity, professionalism and are supportive throughout. Dominique spent time getting to know me to understand my priorities and values and ensure alignment. She worked to ensured a good fit with CCH. Am thrilled to be at CCH and work in such a caring organization. I am grateful to Dominique and the team at Reneris and am glad they occupy the recruitment space in our affordable housing world”. Cynthia accepted a position with Christian Church Homes to be their first Chief Operating Officer in June.

6. Time efficiency and Managing stress: Job searching can be time-consuming, specially for candidates seeking leadership roles. By partnering with search firms, candidates expect to save time as the firms handle the initial screening and match candidates to suitable job openings, streamlining the job search process and thus also relieving candidates from the stress caused by the whole recruiting process. Abby Westbrook, who worked remotely for a nonprofit in another state when she and her husband decided to move home to be closer to family, was looking for someone to guide her through her job search as she managed full-time employment and was taking care of a young family and new home. Today, she is the Executive Director of Social Venture Partners in Cleveland, a role that has allowed her to make a considerable professional impact in the community while maintaining work-life balance. “I was recruited by Dominique and her tam for a nonprofit leadership role in Cleveland. Dominique was a dream to work with, she is honest, transparent, and communicative throughout the whole process. She made what can be a stressful experience much more easeful and is truly committed to fostering a mutually good fit”

7. Networking expansion opportunities: Search firms often have established relationships with companies and can provide candidates with networking opportunities that they may not have access to on their own. Working with search firms can expose candidates to a broader network of potential employers and industry contacts. This expanded network can be valuable for building long-term career opportunities.

8. Negotiation support: Candidates might seek out search firms for help with salary negotiations and benefits packages. Search firms can act as intermediaries between candidates and employers, helping to ensure that both parties reach a mutually beneficial agreement.

9. Long-term relationship building: Candidates who have a positive experience with a search firm may establish long-term relationships. This could lead to future career opportunities as search firms continue to consider them for suitable roles throughout their careers.

10. Confidentiality and privacy: Candidates want their personal and professional information to be treated with the utmost confidentiality. Working with search firms safeguards a higher level of privacy compared to publicly applying for jobs, especially for candidates employed and looking to make a discreet job transition.

Overall, candidates´ experiences may vary based on the specific search firm they work with and the quality of the services provided. A reputable and experienced search firm is more likely to meet candidates´ expectations and deliver a positive experience throughout the job search process.

Please feel free to contact us at Reneris if you are looking for a change in your career.

Reneris is a specialized executive search and management consulting firm that provides professional services to clients seeking a high-caliber consultative partner. We have successfully placed candidates in leadership positions in the Real Estate (Hospitality, Multi-Family Housing, Senior Living) and Non-Profit sectors.

Please contact us to learn how Reneris can help you attract executive-level talent for your leadership team.

Contact Us


info@reneris.us

Continue reading

Paid Sick Leave: Why is it Good for Business Outcomes?

Paid Sick Leave: Why is it Good for Business Outcomes?

Paid sick leave refers to a policy or benefit provided by employers that allow employees to take time off from work while still receiving their regular paychecks or remuneration. It is intended to allow employees to address their own health needs or take care of the health needs of their family members without suffering a loss of income.

Employees who are unwell, wounded, or in need of medical care are often given a set number of days or hours of paid leave under a paid sick leave program. Depending on the employer and the relevant rules or regulations in a particular country, the specifics of a paid sick leave policy, such as the number of days offered and the eligibility requirements, can change.

According to “The Case for Offering Paid Leave: Benefits to the Employer, Employee, and Society research published by the National Library of Medicine, paid leave is not mandated by the U.S. government, in contrast to other developed countries. CNBC states that the US is the only advanced economy that does not guarantee paid time off.

Furthermore, the U.S. does not guarantee holiday time. In contrast, The European Union Working Time Directive, which was passed in the early 1990s, requires at least 20 working days of paid vacation in all European Union countries. For instance, France provides a minimum of 30 paid vacation days per year. Many European countries have additional paid holidays, giving workers even more paid days off, something that is still not regulated in the U.S.

Despite this, a new study published in the American Journal of Industrial Medicine by researchers at Cleveland State University and Florida Atlantic University has found evidence linking paid sick leave benefits to favorable business outcomes. Most research included in the study found that sick leave is associated with higher job satisfaction, improved retention, and reductions in occupational injury, contagion, death, and presenteeism (diminished productivity of a sick or injured employee who is at work)

Paid sick leave can be used for various reasons, including:

  1. Personal illness: When an employee is unwell and needs time off to recover from their illness or injury.
  2. Family care: When an employee needs to take care of a sick family member, such as a child, spouse, or parent.
  3. Preventive care: When an employee needs to attend medical appointments, undergo preventive screenings, or engage in other health-related activities that cannot be scheduled outside of working hours.

    Paid sick leave is typically accrued over time or provided in a lump sum at the beginning of each year, depending on the employer’s policy. The accrual rate or the number of days/hours provided may vary based on factors such as length of service, full-time or part-time status, and local labor laws.

    It is important to note that the specific regulations and requirements surrounding paid sick leave can differ between countries, states, and even cities, as they are governed by labor laws and employment standards specific to each jurisdiction. Employers are responsible for complying with the applicable laws and ensuring that their paid sick leave policies align with the legal requirements.

    Paid sick leave is beneficial for businesses for several reasons:

    1. Increased productivity: When employees have access to paid sick leave, they are more likely to take time off when they are genuinely ill. By doing so, they can recover faster and reduce the risk of spreading illnesses to other employees. This helps maintain a healthier workforce overall, leading to increased productivity as employees return to work in better health.
    2. Reduced presenteeism: Presenteeism refers to employees coming to work even when they are sick or not feeling well. It may seem like a dedicated act, but it can be counterproductive. Sick employees are often less productive, make more mistakes, and can infect others, leading to a decrease in overall productivity. Paid sick leave encourages employees to take the necessary time off to fully recover before returning to work, minimizing the negative effects of presenteeism.
    3. Employee morale and loyalty: Offering paid sick leave demonstrates that a business values the well-being of its employees. This can improve employee morale and job satisfaction, leading to increased loyalty and lower turnover rates. When employees feel supported and cared for, they are more likely to be engaged and committed to their work, resulting in improved performance and a positive work environment.
    4. Compliance with labor laws and regulations: Many jurisdictions have laws mandating a certain amount of paid sick leave for employees. By providing paid sick leave, businesses ensure compliance with these legal requirements. This helps avoid potential legal issues, penalties, and damage to the company’s reputation.
    5. Attracting and retaining talent: In today’s competitive job market, offering paid sick leave can be a valuable tool for attracting and retaining talented employees. Job seekers often consider the benefits package when evaluating potential employers. A comprehensive benefits package that includes paid sick leave can make a business more appealing to top candidates and increase its ability to retain skilled employees.
    6. Improved public health: By providing paid sick leave, businesses contribute to overall public health efforts. Employees who have access to paid sick leave are more likely to stay home when they are sick, reducing the spread of contagious illnesses in the workplace and the community. This, in turn, can help prevent widespread outbreaks and lower healthcare costs for both individuals and businesses.

      Overall, paid sick leave is good for businesses because it promotes a healthier and more productive workforce, enhances employee morale and loyalty, ensures compliance with laws, helps attract and retain talent, and contributes to public health initiatives.

       

      Why should you hire an executive search firm to find top talent?

      To set the context, let´s first define how an executive search firm and top talent are defined:

      According to the Association of Executive Search and Leadership Consultants (AESC), an executive search firm is defined as a company that specializes in placing highly qualified candidates in executive-level positions across the public, private, and non-profit sectors.

      These firms are typically retained by companies to fill high-level positions such as CEOs, CFOs, COOs, board members, and other C-Suite executives. Some firms also search for key strategic roles at the VP and Director-levels in the organization.

      Executive search firms work closely with their clients to find out and understand their specific needs and requests for a specific role, as well as the company culture, industry trends, and other significant factors. They play a critical role in helping companies identify and recruit top talent for their most senior and strategic positions and can help guarantee to get the leadership they need to succeed in the current competitive business environment.

      But what is top talent and why is important?

      Top talent refers to individuals who possess extraordinary skills, abilities, and characteristics that make them stand out from their peers in a specific field or industry. These individuals are considered to be the best of the best, and they are pursued by employers and companies for their expertise and exceptional talents.

      Top talent can come in many forms, including but not limited to technical, leadership, and/or problem-solving skills, creativity, adaptability, and strong work ethic. These individuals are habitually high achievers who can consistently deliver outstanding results and contribute to the success of their teams and companies.

      According to Entrepreneur, the success of a company is largely determined by the quality of its talent. Thus, hiring and retaining the right people must be a top priority if you want to succeed in your field. Even with a great vision and killer strategies, you won’t go far without the right people in the right seats doing the right things.

      Now that we have largely explained the importance of hiring an executive search firm, the following questions logically follow:

      How can you find the right executive search firm for your business?

      Finding the right executive firm for your business is critical to ensure you hire the best potential candidates for your executive positions. Here are some tips:

      • Determine your needs: Before you initiate your search for an executive firm, it is important to identify your particular needs and to answer several questions such as: What positions do you need to fill? What industry do you operate in? What type of experience and skills are you seeking in candidates? Recognizing your specific needs will definitely help you find an executive firm that specializes in your unique wants.
      • Research executive firms: Once you identify your needs, you should research firms specializing in your specific industry and that have a good reputation. Look for those with a proven track record of success in filling executive positions, and read reviews and testimonials from previous clients.
      • Evaluate their process: Ask the executive firm about their process for finding and placing candidates. A good executive firm has a clear process that involves in-depth candidate assessments, interviews, and reference checks. They should also have a deep understanding of your industry and its unique hiring needs.
      • Consider the fees: Executive firms typically charge a fee for their services. Before you hire one, ensure you understand their fee structure and any additional costs that may take place. It is also essential to assess the fees related to their services and the value they offer and deliver.
      • Request references: Ask for references from previous clients. A reliable executive firm should be able to provide references and testimonials from satisfied clients.

      After navigating all search parameters and clarifying key concepts, let’s loop back to the question presented in this article:

      Why should you hire an executive search firm to find top talent?

      Filling senior-level roles is much more demanding, time-consuming, and research-heavy than recruiting for an entry-level or middle-management position. Thus, the most common reasons why you should hire an executive search firm to help you in the process include the following:

      • Wide network of top-level executive candidates: Executive search firms usually have access to a vast network of top-level executive professionals, including passive candidates, who may not be actively seeking a job. This allows them to identify and hire the most skilled and proficient candidates, including those who may not be visible on job boards or other traditional recruitment channels.
      • Expertise in executive recruitment: Executive search firms have proven experience in recruiting senior-level executives, and are well-informed in cutting-edge recruitment strategies and best practices. They also have a deep knowledge of the specific skills and competencies required for executive roles and can use this experience to identify and evaluate the most suitable applicants.
      • Save time and costs: Hiring top talent can be a time-consuming and resource-intensive process, mostly at the executive level. By outsourcing this process to an executive search firm, you can save time and costs, buying you time to focus on other critical business priorities.
      • Access to Most Placeable Candidates (MPC): Executive search firms commonly have a small client pool within a specific industry that trusts and hires them to fill top positions with high-caliber candidates. By seeking to fill roles for their clients, often these firms come across MPC that might fill a strategic need for your organization before you have begun the process of a formal search.
      • Confidentiality: Executive search firms guarantee confidentiality throughout the recruitment process, especially when filling complex or high-profile positions. This can be significant for companies that want to prevent warning competitors or triggering disruption amongst existing staff.
      • Industry Experts: Executive search firms possess expertise in industry trends and typically specialize in specific industries which can offer companies the advantage of getting high-caliber candidates with industry-specific skills.
      • A Higher prospect of success: By partnering with an executive search firm, companies increase their chances to engage with the best potential candidate for a particular role. Executive search firms have the expertise, resources, and network to identify and attract top talent, and can help assure that the candidate chosen is a good fit for the company’s values, culture, and long-term objectives.
      • Improved Retention Rates: Candidates who are a good cultural fit tend to stay longer. Increased retention rates reduce the cost of turnover, create a more stable environment and ultimately motivate your employees to deliver outstanding performance.

      Overall, hiring an executive search firm can be an effective way for organizations to find and recruit top talent for their most senior and strategic positions, and can help ensure the long-term success of the organization.

      Reneris is a specialized executive search and management consulting firm that provides professional services to clients seeking a high-caliber consultative partner. We have successfully placed candidates in leadership positions in the Real Estate (Hospitality, Multi-Family Housing, Senior Living) and Non-Profit sectors.

      Please contact us to learn how Reneris can help you attract executive-level talent for your leadership team.

      Contact Us


      info@reneris.us

      Continue reading

      Why Should you Hire an Executive Search Firm to Find Top Talent?

      Why should you hire an executive search firm to find top talent?

      To set the context, let´s first define how an executive search firm and top talent are defined:

      According to the Association of Executive Search and Leadership Consultants (AESC), an executive search firm is defined as a company that specializes in placing highly qualified candidates in executive-level positions across the public, private, and non-profit sectors.

      These firms are typically retained by companies to fill high-level positions such as CEOs, CFOs, COOs, board members, and other C-Suite executives. Some firms also search for key strategic roles at the VP and Director-levels in the organization.

      Executive search firms work closely with their clients to find out and understand their specific needs and requests for a specific role, as well as the company culture, industry trends, and other significant factors. They play a critical role in helping companies identify and recruit top talent for their most senior and strategic positions and can help guarantee to get the leadership they need to succeed in the current competitive business environment.

      But what is top talent and why is important?

      Top talent refers to individuals who possess extraordinary skills, abilities, and characteristics that make them stand out from their peers in a specific field or industry. These individuals are considered to be the best of the best, and they are pursued by employers and companies for their expertise and exceptional talents.

      Top talent can come in many forms, including but not limited to technical, leadership, and/or problem-solving skills, creativity, adaptability, and strong work ethic. These individuals are habitually high achievers who can consistently deliver outstanding results and contribute to the success of their teams and companies.

      According to Entrepreneur, the success of a company is largely determined by the quality of its talent. Thus, hiring and retaining the right people must be a top priority if you want to succeed in your field. Even with a great vision and killer strategies, you won’t go far without the right people in the right seats doing the right things.

      Now that we have largely explained the importance of hiring an executive search firm, the following questions logically follow:

      How can you find the right executive search firm for your business?

      Finding the right executive firm for your business is critical to ensure you hire the best potential candidates for your executive positions. Here are some tips:

      • Determine your needs: Before you initiate your search for an executive firm, it is important to identify your particular needs and to answer several questions such as: What positions do you need to fill? What industry do you operate in? What type of experience and skills are you seeking in candidates? Recognizing your specific needs will definitely help you find an executive firm that specializes in your unique wants.
      • Research executive firms: Once you identify your needs, you should research firms specializing in your specific industry and that have a good reputation. Look for those with a proven track record of success in filling executive positions, and read reviews and testimonials from previous clients.
      • Evaluate their process: Ask the executive firm about their process for finding and placing candidates. A good executive firm has a clear process that involves in-depth candidate assessments, interviews, and reference checks. They should also have a deep understanding of your industry and its unique hiring needs.
      • Consider the fees: Executive firms typically charge a fee for their services. Before you hire one, ensure you understand their fee structure and any additional costs that may take place. It is also essential to assess the fees related to their services and the value they offer and deliver.
      • Request references: Ask for references from previous clients. A reliable executive firm should be able to provide references and testimonials from satisfied clients.

      After navigating all search parameters and clarifying key concepts, let’s loop back to the question presented in this article:

      Why should you hire an executive search firm to find top talent?

      Filling senior-level roles is much more demanding, time-consuming, and research-heavy than recruiting for an entry-level or middle-management position. Thus, the most common reasons why you should hire an executive search firm to help you in the process include the following:

      • Wide network of top-level executive candidates: Executive search firms usually have access to a vast network of top-level executive professionals, including passive candidates, who may not be actively seeking a job. This allows them to identify and hire the most skilled and proficient candidates, including those who may not be visible on job boards or other traditional recruitment channels.
      • Expertise in executive recruitment: Executive search firms have proven experience in recruiting senior-level executives, and are well-informed in cutting-edge recruitment strategies and best practices. They also have a deep knowledge of the specific skills and competencies required for executive roles and can use this experience to identify and evaluate the most suitable applicants.
      • Save time and costs: Hiring top talent can be a time-consuming and resource-intensive process, mostly at the executive level. By outsourcing this process to an executive search firm, you can save time and costs, buying you time to focus on other critical business priorities.
      • Access to Most Placeable Candidates (MPC): Executive search firms commonly have a small client pool within a specific industry that trusts and hires them to fill top positions with high-caliber candidates. By seeking to fill roles for their clients, often these firms come across MPC that might fill a strategic need for your organization before you have begun the process of a formal search.
      • Confidentiality: Executive search firms guarantee confidentiality throughout the recruitment process, especially when filling complex or high-profile positions. This can be significant for companies that want to prevent warning competitors or triggering disruption amongst existing staff.
      • Industry Experts: Executive search firms possess expertise in industry trends and typically specialize in specific industries which can offer companies the advantage of getting high-caliber candidates with industry-specific skills.
      • A Higher prospect of success: By partnering with an executive search firm, companies increase their chances to engage with the best potential candidate for a particular role. Executive search firms have the expertise, resources, and network to identify and attract top talent, and can help assure that the candidate chosen is a good fit for the company’s values, culture, and long-term objectives.
      • Improved Retention Rates: Candidates who are a good cultural fit tend to stay longer. Increased retention rates reduce the cost of turnover, create a more stable environment and ultimately motivate your employees to deliver outstanding performance.

      Overall, hiring an executive search firm can be an effective way for organizations to find and recruit top talent for their most senior and strategic positions, and can help ensure the long-term success of the organization.

      Reneris is a specialized executive search and management consulting firm that provides professional services to clients seeking a high-caliber consultative partner. We have successfully placed candidates in leadership positions in the Real Estate (Hospitality, Multi-Family Housing, Senior Living) and Non-Profit sectors.

      Please contact us to learn how Reneris can help you attract executive-level talent for your leadership team.

      Contact Us


      info@reneris.us

      Continue reading