My experience, stemming from over 500 completed executive search projects, clearly shows that a well-structured offer for a Board Member, President or key director plays a decisive role in the success of the entire recruitment process. So what elements should an effective offer contain?
1. An Offer Aligned with the Market
One of the most common mistakes is presenting candidates with offers below the market value. Senior executives are well aware of both the current market situation and their own worth, which is why offers that fall below a certain threshold are most often rejected. It is worth spending time on market analysis and adapting the offer to industry standards to avoid costly and time-consuming re-recruitment processes.
2. Compensation Not Lower Than Current One
A fundamental requirement for offers for key positions is ensuring that the proposed salary is at least equal to the candidate’s current earnings. Even if the company offers additional benefits or prestige, candidates are rarely willing to accept a lower salary. This principle should be treated as a non-negotiable minimum.
3. Company Car – A Key Part of the Package
A company car remains an essential benefit among Board Members. Interestingly, a carefully selected vehicle that meets the executive’s expectations often holds significant emotional value. In practice, the cost of providing a company car is typically lower for the company than increasing the base salary, and a well-selected model can further increase the candidate’s motivation and job satisfaction.
4. Company Stock Options – A Powerful Motivator
Stock options or company shares remain an underutilized incentive in Poland. Meanwhile, they serve as a strong motivator and foster long-term loyalty. The options or shares align an executive’s interests with the company’s success. However, it is crucial that such promises are fulfilled. Failure to do so can harm the company’s reputation and lead to the loss of key talent.
5. A Nod To the Candidate – Tailoring the Offer
An effective offer for a Board Member should include individually tailored elements. A seemingly small gesture, customized to the candidate’s personal preferences, can often be the deciding factor in securing their acceptance.
An example? In one of my recruitment projects, a candidate declined an offer because the company provided a standard company car brand that they, for personal reasons, did not accept. However, the company demonstrated flexibility, going beyond their usual fleet policies and agreeing to offer a vehicle that aligned with the candidate’s preferences. This small but meaningful gesture ultimately convinced the future President to accept the offer.
6. A Flexible Work Model – Balancing Office and Remote Work
The trend of returning to office-based work does not mean completely eliminating flexibility. While senior executives typically prefer being present in the office to facilitate direct communication and team collaboration, the option for occasional remote work remains a significant advantage. It is worth leaving at least a little bit of space for a hybrid model, demonstrating the company’s adaptability to the evolving needs of its employees.
Conclusion
A compelling offer for a Board Member is more than just a high salary. It must be realistic, thought out, and aligned with the candidate’s expectations. Tailoring the terms of employment to individual preferences and maintaining flexibility are critical factors in successfully recruiting top-level executives.
