A CRO should not “only” distinguish the usually visible 32 shades of company’s most trivial call-outs for restructuring, but all 50 shades of greyness of its present mediocrity. Also inscrutable agendas and their hidden implications during the change management. Because while restructuring only few argumentative reasons stand in opposite to at least a million of opposing “reasons” arising from fear of change.
Therefore, the CRO personalizes the complexity of the so-called Cost killer... hence 50 shades of grey to be figured out…
And special requirements calls for Special Forces!
How to hunt the CRO will be presented by a professional Headhunter (why should they be called differently than affectionately as we name the Cost killer?!?), associating her lifetime work in HR with one of the worldwide leading Executive Search network, with almost 90 offices in over 50 countries. Milena, please, the floor is yours!
Ervin Pfeifer
The cost killer cannot
be just anybody, this is evident. But how does a good CRO looks like?
How to evaluate competencies of candidates for such position?
As always when we are
considering the engagement of a new expert on board to one of key positions, we
have to first clearly know our goal. So, to answer all those questions, we have
to identify competencies needed for tasks ahead of this professional.
Knowledge, skills
& abilities mirrors the profile of CRO
In the HR theory, competencies are described as the collection of
knowledge, skills, abilities and values, of everything what people need to be
successful in their jobs. This set of context-specific qualities is correlated
with superior job performance and can be used as a standard against which to
measure job performance as well as to develop, recruit, and hire employees.
There are three types of competencies:
But…, choose right approach! Or hire a headhunter to do it…
The secret of successful recruitment is the right approach to evaluate and assess the candidates' competencies and compare them to realistic expectations of the position and wider of organization. This is assured by different methods of selection:
- structured selection interview with elements of behavioral interview
- assessment center with tasks focused to organizational skills, team playing skills, priority setting, role plays
- candidates' presentation of their approach to the task with budget and time frame clearly presenting the working strategy to achieve goals
To have an insight view into competencies' evaluation, the best results will be achieved by combining some of selection methods which can be cross checked also by the right battery of psychometric tests.
Shopping list for competencies of the CRO’s …
What are the competencies of a CRO? Grouped and presented are as follows:
Each of those competencies has to be assessed
But how…? Almost none of them can be measured, most of them are evaluated by the candidate’s references in the CV or assessed by more or less complex selection methods:
- structured selection interview
- assessment center with focused tasks testing specific competencies
- psychometric tests and questionnaires
- reference checking
Expect the expectable… or “How to prepare for the selection process?”
Before commencing selection process we have to have a perfectly clear picture of our expectations, clear image of what we are looking for in the process which we name identification of a CRO. In this defining process we have to create a solid job description, set clear goals for this person to achieve in a time frame, sources that will be available, responsibilities and authorization in decision making process, reporting protocols, KPIs and measures of success. We have to know our frames of rewarding system for the CRO and also his/her team.
After completing this preparation phase, comes the time to prioritize the competencies and set to each competence the mark of importance. At every search and selection process we are of course aiming to find and engage the "superman", what might lead the decision makers into trap of not getting to the decision searching for such perfect match.
It is very important to remain realistic and being ready also for compromises. Of course, there are issues where compromising would endanger the success of the project. And we have to identify these competences we will at no price make compromise, those where we can step back (how much that we don’t bring the project under the question), and those where it would be nice to have but we could live without and the project is still doable.
Do we have right fish on the hook? How to evaluate the competencies? Questions! Tasks!
Check our blog for more about that with some secrets of selection methods’ masters at one of next readings.
Milena Pervanje
Amrop Adria, Director Human Capital Advisory
Amrop Adria, Director Human Capital Advisory
Sources:
- Wikipedia http://en.wikipedia.org/wiki/Competence_(human_resources)#Types_of_Competencies
- Mark V. Bossi: Are CROs more Powerful than Turnaround Consultants? https://www.turnaround.org/Publications/Articles.aspx?objectID=6588
- Nat Wassenstein: What is a Chief Restructuring Officer? http://www.lindenwoodassociates.com/crisis-management/what-is-a-chief-restructuring-officer/
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