MOON News

Moon Consulting are proud to be working with the team at the Family Business Place, the online resource for matters of real concern to family firms, relating to succession, conflict resolution, non-family or non-executive directors, tax, accountancy and legal  issues. Below is an excerpt from a comment piece by Shaun Durham, Moon consulting director. The latest edition of Generation magazine is available now. Sign up here.

Q: "We are a second generation family firm, who up until now has had no reason to recruit at Board level. However, due to growth we now want to complement our team with a non-family member. How do we go about this?"

A: Firstly, are you ready for the change that this will engender in your business? You will be admitting someone new into the decision making process and relinquishing some control whether it is in sales, finance, operations or HR. Are you recruiting for growth, exit or to bring in expertise? If you are ready, then:

1. Draft a job description and person specification. This is vital to define the employee you want. If you do not have an in-house HR specialist, good consultancies should provide this service. Remember, culture and values are just as important as skills in finding the right fit.

2. Finding candidates. Start with your own networks; ask your advisors, peers and friends if they know of anybody suitable. A recommendation goes a long way.

3. Advertise. This can be daunting. There is a wide variety of online and traditional media outlets aimed at executive recruitment.  It can be expensive. Plus you will have to deal with all the response, screen CVs, interview (a skill in itself) and reject the unsuccessful. Do you have the time for this?

4. Use a recruitment company. Make sure you use a consultancy that has a specialism in SME and / or family businesses. You will be looking for a firm that understands your market, the issues you face and your longer term goals. Expect your firm to interview face-to-face and present a genuine shortlist. They should work in partnership with you, even after the new candidate has started.

Done correctly, the new hire will challenge and stimulate you are your business to greater heights; done incorrectly, and it will impact on your time, profits and reputation.