Senior executive hiring and firing: issues to consider when onboarding a senior executive
HR managers have to deal with a range of challenging situations from collective redundancies to disciplinary hearings, but senior executive hiring remains an area that is particularly fraught. What makes the appointment of a senior executive such an intense experience? What are the key points that always arise when negotiating their service agreements, in addition to the financials?
Part of the problem is that HR is often asked to get involved at the point when decisions have been made and events have gathered such a momentum that the appointment has to happen within a relatively short period of time. It is not uncommon for the incumbent to remain in post at that point, blissfully unaware that his replacement is already waiting in the wings and that he will be shown the door or put on garden leave within 24 hours.
The departure of the incumbent brings into sharp relief the provisions that are most important when negotiating the new appointee’s service agreement. With a new hire lined up and ready to start, the company will want to get the incumbent out of the office swiftly, by putting them on garden leave or making a payment in lieu of notice. When negotiating the contract for the new hire, it is important to ensure that the company has maximum flexibility in an exit situation…
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