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FINANCIAL INSTITUTION
Recruiting with Competencies

The new CIO of one of Canada’s premier financial institutions recognized the IT unit within his organization was not enabling the business units to meet their targets. LSM Consulting was engaged to define the required competencies of the new mandate and implement a process to allow employees and managers to manage their competency development. Our search practice was also engaged at the executive level to recruit seven executives to fill new and redefined positions. In addition to the normal challenging selection criteria at this level, the CIO, also wanted his new team members to be able to work effectively together from day one and live the values that were felt to be critical to the unit meeting its new mandate.

We used our extensive database of competencies and jobs to build draft competency job profiles for all positions in the IT department. We developed a general classification structure of five levels, from analyst to senior consultant and applied this template to all positions. This not only simplified the previous structure of jobs, it improved management’s ability to deploy staff in more effective ways. The draft profiles were reviewed by employees and management teams for accuracy and completeness prior to being implemented. The process provided an objective basis for determining required learning and development activities. In terms of the re-organization, the profiles of employee competency provided useful input along with other data for deciding re-assignments.

The seven executive positions covered all functions of IT. The assignment was conducted using project management methodologies. We met weekly with the client to review the status of all applicants being presented, the status of interviews and to review changes in the nature of the duties of the various jobs as their roles shifted during the re-organization.  Candidates of interest were also presented to give the client an opportunity to take advantage of any talent that might be of a fit into their future plans. These were candidates that did not fit the profile of the vacancies but in our opinion were excellent candidates for the operating environment of the client. We conducted a salary survey in order to assist management in understanding the differences in compensation between average and median and for those candidates who previously led significant change management initiatives. 

Using our strength in building compelling stories that accurately portray the client’s situation and articulate why quality candidates should consider our client as their next employer, coupled with our strong research capabilities and selection criteria, all seven positions were filled within the time schedule set by the client.