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A note from Mike 

As we begin the second half of 2024, I am delighted to share our latest news.

We are proud to introduce a new look for Catalysis Advisory, that better reflects our maturity and leadership position in the market after 14 years but also, we hope, retains the warmth and authenticity of the way we work. You'll start to see this new look reflected across all aspects of our activity - in reports and documents, as well as on our website, LinkedIn and elsewhere. 

We welcome your thoughts and feedback as always and hope you like the new look which reflects conversations and feedback we have had with our clients, partners and team, noting what they felt defined Catalysis and how we could better showcase our strengths. What hasn’t changed is our values and commitment to our clients and finding better ways to align team and organisation effectiveness with scaling and value creation.

Catalysis recently passed an exciting milestone: we've completed 700 projects supporting our PE partners, management teams, and Chairs. We want to thank you for your support and partnership over the past years and look forward to many more to come. 

We continue to reflect on what we have learned across the years. In that context, I have pulled together thoughts and research on the best way to make referencing valuable, which you can find below or at this link.

 

Kind regards,

 

I'm an image

 

DR MIKE HICKS

Founder & CEO

 

M: +44 7779 619088

E: mike@catalysis-advisory.com

www.catalysis-advisory.com

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Mastering Executive Referencing: A Succinct Guide for Validating Your Key Hires

Hiring senior executives is a high-stakes game. One of the most critical steps in this process is executive referencing. Done right, it can confirm a candidate's true potential and fit. Done poorly, it can lead to disastrous hires. In this guide, we'll explore the best practices for referencing senior candidates effectively, ensuring you make better-informed hiring decisions.

Why Executive Referencing is Crucial

CVs, interviews, and psychometric tests offer limited glimpses into a candidate's full experience and capabilities. Executive referencing provides a deeper, more nuanced view. It's not just about confirming what's on paper but validating strengths and identifying potential weaknesses through background checks and insightful conversations with third parties.

Start Early

Don’t wait until an offer has been made to begin referencing. Early insights can allow any red flags to be addressed promptly, and detailed observations to be judged alongside interview impressions.



Clarify Your Purpose

The primary goal of referencing isn't just to uncover dramatic negatives but to determine the candidate's specific fit for your organization. You're assessing their suitability for the role, not judging them as individuals.



Adopt the Right Mindset

Be prepared for the fact that up to half of candidates may offer less than expected or just not be a great fit. If that is the case, it's better to know sooner rather than later. 



Leverage Your Network


Start with your trusted network of contacts who might provide candid insights early on. 


Avoid 'blind referencing' where you talk to unknown referees behind the candidate's back. This can damage trust and harm the candidate's reputation.



Quantity matters

For senior roles, aim to talk to at least 5-6 people, and in high-stakes situations, this number might exceed 10. Each conversation should be no shorter than 15 minutes to gather sufficient evidence.



Focus on Quality

Quality of insights trumps the formal position of the referees. Favor individuals who have had significant interactions with the candidate, such as former bosses, peers, subordinates, long-standing clients, or industry experts. Ensure you get a mix of perspectives to cover various aspects of the candidate's abilities and character.

Check the relevance of each referee. Can they provide meaningful insights based on recent interactions? Referees who haven't worked with the candidate in over a decade are less useful, unless they can comment on recent performance.



Set the Process up Properly

Initiate discussions with the candidate about potential referees. Check their relevance and ask the candidate how they think referees will rate them in terms of achievements and areas needing improvement. Allow the candidate to introduce you to the referees to provide context and make them more comfortable.



Make Referees Comfortable

Introduce yourself in writing and explain the purpose of your call in advance. Clearly state that you seek specific evidence related to your needs and explain why getting this appointment right matters. This approach fosters a collegial atmosphere, encouraging referees to open up.



Ask Better Questions

Start by asking referees to describe their relationship with the candidate. Follow up with specific questions about the candidate's performance, strengths, and areas needing improvement. Inquire about their ability to handle adversity and the transferability of their skills to your organization's needs. Finally, ask for advice on working with the candidate and if there are additional referees worth speaking to.



Evaluate Your Findings

Implement a scoring scheme to differentiate between vaguely positive and genuinely positive feedback. Use a structured approach to evaluate the evidence, categorizing references along the following lines:

  • Very High: Consistent and substantiated evidence of high performance relevant to the role
  • High to Very High: Substantiated evidence of performance but with some inconsistencies or issues
  • High: Generally positive but lacking substantiation or with more than one issue present
  • Medium High: Some positives but with significant gaps or unhelpful issues
  • Low/Medium: Real questions about the candidate's suitability

 

Conclusion

 

Effective executive referencing can significantly enhance your hiring process by providing deep insights into a candidate's true potential and fit. By starting early, leveraging your network, and asking the right questions, you can make well-informed decisions and avoid costly hiring mistakes. Remember, the goal is not just to validate what you already know but to uncover the candidate's full story, ensuring they are the best fit for your organization.



 

We regularly update our website and LinkedIn with fresh insights and the latest news. 

Please connect with us or get in touch if you would like more information on any of our solutions, or would like to chat: Mike@catalysis-advisory.com

 

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