An estimated 30% of C-level executives will be eligible to retire within the next couple of years. Unfortunately, researchers have found that most businesses are woefully unprepared to find and hire the right C-suite employees during these critical transition periods. Thus, costing companies billions of dollars in lost opportunities. The problem becomes even more compounded if your company is in a unique geographic position like Hawaiʻi. If you need to build an innovative leadership team, use these three insider tips to attract (and retain) top C-suite talent today.

4 Essential Tips to Recruit and Retain C-Suite Talent for the Hawaiʻi Job Market
1. Think Beyond the Salary

Hawaiʻi consistently ranks as one of the most expensive states to live in. While studies show that employees are putting less and less value on salary itself when making a job change, it’s still a criterion for attracting top talent. Do your proper due diligence to discover the salary averages for the specific C-level position you’re looking to fill.

Trusted third parties that conduct salary range studies include the U.S. Bureau of Labor Statistics nationally and the Hawaii Employer’s Council (HEC) locally. We can also guide you in this area.

C-level candidates are also increasingly asking about additional compensation options. This includes the benefits package, goals-based incentives (i.e. bonus structures), stock compensation, and long-term retention compensation (i.e. deferred compensation plans and collateral assignment split-dollar plans).

This amount of research can be overwhelming, especially if you run a lean HR team. This is where bringing on the professional assistance of an executive search team like Bishop & Co. can prove invaluable.

Such hiring teams already have their finger on the pulse of the current job market and what benefits C-suite job seekers are searching for in terms of upward mobility, growth, flexibility, and more.

2. Know What Motivates a True C-Suite Leader

A good C-level executive won’t treat this potential position as just another job.

Just as you will do your due diligence on them, they’ll also want to know more about your company. A company that wants to hire the best people for its leadership roles needs to sell more than the job opportunity. Indeed, they must also sell the industry and the business itself.

One of the first places you can introduce this is in the job description. Then, again when someone initially reaches out to the prospective executive. Some pointers to make the role (and your business) stand out to top talent include:

  • Explain why your industry is dynamic, exciting, and offers opportunities to grow.
  • Demonstrate how the right person, with a specific skillset or philosophical approach, can have a real impact on the business (and, therefore, the whole industry).
  • Share specific ways to measure said impact, so that the position resonates with the right people.
  • Tap into your existing staff to get on-the-ground insight on your company’s culture, challenges, and goals for the future (this is also a great time to check if you’ve overlooked anyone on your existing team who might fit this role you’re trying to fill!).
3 Offer Remote or Hybrid Flexibility

As the world emerges from several years of pandemic-related work disruptions, many C-level executives have embraced the flexibility that remote work — or, in some cases, a hybrid between remote work and in-office work — can offer. For example, a study conducted by the Conference Board found that a third of CEOs around the world expect that nearly half of their workforce will continue to work remotely.

That same study found that C-suite talent is increasingly focused on building high-performing hybrid teams. Thus, many are applying the same concepts to their own work styles and expectations. By offering the ability to work remotely or in a hybrid format, you attract those drawn to this new approach.

4. Focus on Quality, Not Quantity

Savvy leadership hiring teams avoid casting an extra-wide net when trying to attract top talent to the Hawaii job market. Getting deluged with unqualified candidates wastes both your time and the candidates’ time.

Executives should recruit executives. This might mean tasking those on your existing leadership team to reach out to prospects by:

  • Talking to alumni at their previous alma mater
  • Mentioning the job opportunity at events, conferences, or among their C-level peers
  • Finding creative ways to look beyond your current sphere of influence. Then, discover the diverse talent that can truly innovate your company and brand
Find the Best C-Suite Talent in the State of Hawaiʻi

A professional executive recruiter can help you do all that, and more. If you urgently need talent or simply just want to deepen your bench, the team at Bishop & Co. can step in and find you highly-skilled, talented professionals who are ready for an opportunity to lead in your business.

With nearly three decades of experience in the Hawaiʻi market, Bishop & Co.’s recruitment teams know the unique requirements of your Hawaiʻi business better than anyone else. Whether it’s helping you to put together a very competitive compensation plan, or helping you to vet candidates before making an offer, you’ll save yourself invaluable time, prevent headaches and minimize opportunity costs by using our executive recruiters. Contact us today to get started!

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