Looking For The Perfect Pricing Manager?
Pricing Executive Search & Recruitment: Need to hire a Pricing Manager to Drive Commercial Strategy?
Specialist recruitment services designed specifically for pricing managers is the fastest and most effective way to support you through your pricing manager hiring process.
- Find pricing managers with the right mix of skills, capabilities and experiences to accelerate your commercial strategy.
- Build a pricing team that can find you an additional 2-10 per cent margin in less than 4 months.
- Avoid bad hires that disrupt workflows and destroy team morale.
- Avoid settling for the second best when you could have the very best.
- Access the best pricing executives, managers and analysts in Australia and New Zealand.
- Avoid allegations of unfair, biased hiring.
- Start collecting the ROI from your commercial strategy from day 1.
Future Proof Your Commercial Strategy In < 26 days
THE NUMBER 1 MISTAKE IN PRICING EXECUTIVE SEARCH AFFECTING PRICING TEAM STRUCTURE
The biggest mistake CEOs can make right now is relying on CVs to recruit, promote and move people into the pricing team.
CVs have zero predictive power on future performance
In fact, our research finds that CVs consistently fail to identify the right mix of skills, traits and capabilities for high-performance pricing teams.
Gartner studies shows that CVs introduce many opportunities for biases and discrimination into the screening process.
Having the right hiring criteria for pricing managers at your fingertips will reveal the talent you actually need to drive commercial strategy - no matter how specialist, technical or senior these roles may be.
WHAT'S CHANGING IN PRICING EXECUTIVE SEARCH
According to HBR, job seekers are losing patience with cumbersome hiring processes that over rely on interviews and CVs.
Many businesses have brought in 'one click' applications in the hope this would strip out one of the more time consuming parts of the process and reduce 'drop out' rate.
Other companies have sought to use algorithms and/or outsource much of the process to agency recruiters to find potential candidates for these roles faster.
However, none of these methods and approaches have improved hiring outcomes or made recruiting faster.
In fact, Gartner shows that business now have a 50% chance of making a bad hire every time they recruit.
Our research shows that it takes businesses an average of 6 months to hire entry and mid level pricing roles using LinkedIn and SEEK.
In many instances, finding talent on LinkedIn is like finding a needle in a haystack. Your chances of overlooking talent are also much higher.
Having carefully curated and vetted talent pools streamlines recruitment so you're not wasting time interviewing unsuitable candidates. Screening for the right capabilities and traits gives you the confidence you have a shortlist of the very best pricing managers.
IMMEDIATE RISK TO PROFIT
Employing a poor candidate for pricing manager roles is a costly and painful mistake.
For example, HBR studies reveal that a company with 10,000 staff could be spending as much as $7.6M to make up for a bad hire's poor performance because their workload is spread across many different divisions.
A study by the Society for Human Resources Management (SHRM) finds that a bad hire in a management role could cost up to five times the annual salary based on lost revenue, lost productivity/workflow disruption, and additional performance management and training resources.
Hiring the best pricing manager using scientific recruitment specifically designed for pricing managers is a proven way to ease the burden on resources and teams. Having evidence to show a good hire from a bad hire significantly reduces the cost of hiring and ongoing costs associated with a bad hire (severance pay, salary, training, workload increase after vacancy, performance management, additional recruitment and advertising fees).
ADDITIONAL RISKS IN PRICING EXECUTIVE SEARCH AND PRICING TEAM STRUCTURE
A number of risks occur when a pricing team is not functioning well or displaying lacklustre performance because of a bad hire:
- Missed deadlines
- Lengthy workarounds
- Boil the ocean thinking and analysis
- Poor written and verbal comprehension
- Poor modelling & data management skills
- Slow and declining team output and decision making
- Limited interest in alternative viewpoints
- Micromanaging behaviours
- Issues with taking/receiving feedback
- Long and painful performance reviews and exit interviews
A less obvious sign is extra pre- and post-meeting meetings — often used by bad hires to make up for the capability gaps listed above.
THE COSTLY ROAD TO RECOVERY
Since 2010 Taylor Wells Advisory have been recruiting, assessing and coaching many different pricing teams for a wide variety of pricing projects and transformations.
It can take 2-5 years to identify the causal drivers of underperformance, dissatisfaction and toxicity after a bad hire has been recruited.
Another 6 to 9 months for managers to feel ready to address team problems.
A further 6 to 12 months to work through the performance review process, starting with the uncomfortable conversations about performance gaps.
Then, finally, another 3 - 6 months to make tough decisions to either redeploy or remove someone from their role or business.
In all this time, it is probable that a business loses 3-9 percentage points of margin across total addressable revenue under the bad hire's management / oversight.
Pricing managers oversee millions of dollars in revenue.
If they make the wrong move in the market this has an immediate impact on the bottom line. If they are slow to deliver critical outcomes, this impedes business growth and compounds frustration and friction among other key performers in the organisation.
Connect With Our Pricing Recruitment Services
HOW TO ACCELERATE COMMERCIAL STRATEGY AND PRICING EXECUTIVE SEARCH
If you are called in to turnaround a business; and/or a significant element of commercial strategy is driving strategic pricing, rule one: make it clear, you don’t have the time or resources to waste on finding a pricing manager using CVs, LinkedIn or agency recruiters.
Scouring hundreds of personal LinkedIn profiles for keywords and/or sifting through multiple CV applications from 'one-click' job applications is a time consuming and completely ineffective way to shortlist talent for pricing manager roles.
A recruitment model that is solely focused on putting ‘bums on seats’ faster does not care about your strategy, objectives, or business culture.
Partnering with a strategic advisory firm removes unprofessionalism from recruitment. A shared risk model builds alignment between third-party advisory firms, hiring organisations and candidates so that everyone is working together to achieve shared outcomes.
THE SOLUTION: AN EFFECTIVE JOB RECRUITMENT SPECIALIST
HR and hiring managers desperately need new hiring tools and methods because the existing ones—CVs, unstructured interviews, personality tests, IQ tests, and personal referrals—aren't working to detect bad hires or find the absolute best hires for pricing manager appointments.
This is where we can help you. Starting with:
- Compiling a list of >300 potential candidates in 1 week.
- Headhunting from day 1 to active-passive market.
- Screening all incoming applications quickly and fairly using an assessment methodology proven to identify key capabilities and traits of high-performance pricing and revenue management.
- Immediately providing feedback to unsuitable candidates.
- Contacting and shortlisting all suitable candidates within 1 week.
- Setting up interviews to probe key areas uncovered by initial screening.
- Offering strategic advisory services to both clients and candidates to ensure alignment and outcomes.
- Building a review system throughout the process to detect early warning signs of risk or disengagement.
OUR TALENT RECRUITMENT SPECIALIST APPROACH TO PRICING EXECUTIVE SEARCH
At Taylor Wells we give everyone a supportive and fair recruitment environment — opportunities to show their individual strengths, abilities, expertise, and recognition of achievements. Our recruitment model prioritises passion and mastery of pricing, cognitive and ethic diversity and inclusion, an inclusive working environment. We constantly strive to use the latest tools, methodologies and research to ensure objectivity, rigour and precision in our decisions, and process.
Our recruitment support is rolled out from the top:
- Strategic Advisory service
- Team Structure & Role Design
- Capability Framework For Pricing
- Salary & Incentives benchmarking
- Ongoing Talent Engagement
- Headhunting services
- Multi Trait Pricing Assessment
- Over 1M data points on high performance pricing & revenue management
- Reference checking
- Offer & Acceptance
- Commercial Capability Building
Know more about our recruitment approach here.