AUSTIN, Texas, July 21, 2021 /PRNewswire-PRWeb/ -- Today Alioth, the new standard for building exceptional teams and culture, announced the launch of a two-year guarantee for any new executive placed using the company's retained executive search service anchored by its organizational diagnostic platform, Exploration, which is included at no additional cost. The new hire guarantee, the first of its kind, provides an added layer of assurance for customers, who are no longer willing to assume the risk of failure as an outcome of the executive search process.
According to the Corporate Executive Board, 50% to 70% of executives fail within 18 months of being hired. The foremost cause of this high rate of failure is cultural misalignment. Founded with a mandate to solve this unacceptable and costly problem, Alioth's novel approach combines deep executive search expertise with AI to match uniquely relevant executive talent to a company's specific needs and distinct cultural texture.
"The use of Alioth's Exploration platform in executive search provides an experience for hiring organizations and their candidates like no other," said Alioth President and Chief Product Officer Henry Nothhaft, Jr. "It generates transformational insights about your organizational culture and the open position, enabling you to identify and successfully recruit the candidate with the highest probability to thrive."
The new hire guarantee is built upon the growing track record of success Alioth has established placing executives with the help of Exploration. Customers from a wide array of industries — including life sciences, technology, and professional services — have already used the insights from Exploration to hire exceptional executive talent.
The bottom line is that bad executive hires are tremendously expensive for both the company and the misplaced executive. For innovative companies focused on rapid growth, a failed executive hire can result in significant disruption and a crucial loss of time. According to a Leeds School of Business research report, the cost of a departing senior executive ranges as high as 40 times their base salary. This doesn't account for the harmful secondary impacts of a failed hire, including the negative cultural and organizational implications such as lost productivity, decreased morale and unwanted turnover. As important, but often forgotten, is the cost to the misplaced hire.
"In many ways, the current model of executive search is flawed because it fails to properly account for the vital nature of culture fit, which results in an average executive hire turnover rate of 18 months," said Alioth CEO and co-founder Janet Stafford. "When we founded Alioth, we set out to reinvent this inadequate model, focusing on delivering cutting-edge technology to enable new solutions to the nuanced challenges of finding impactful executive talent that sticks. We have delivered on those efforts, and with today's announcement, we are backing our belief in the value of this work and the capabilities of our platform."
"We are at a massive inflection point in the workplace that requires intentional and thoughtful hiring at the executive level to ensure employees are working for leaders who align with their companies, and their own values," said Alioth co-founder Rusty Rueff. "These decisions cannot be made in a vacuum. We must do better at hiring — we owe that to the job candidates and existing employees, not to mention saving time and money by getting the decision right the first time."
Learn more about Alioth's two-year new hire guarantee at https://alioth.co
About Alioth
Alioth is the new standard for building exceptional teams and culture. We help your business achieve apex performance with our pioneering organizational diagnostic platform and talent acquisition model. Our flagship Exploration platform positions the world's most innovative companies to reach their full potential by aligning culture with talent.
Exploration unlocks unrealized knowledge inside your organization through dynamic data capture. We use artificial intelligence and data science to optimize both the quantitative and the qualitative to provide context and understanding that go far beyond surface-level graphs and statistics. Exploration's insights highlight an organization's strengths and reveal untapped potential, crucial blind spots, and opportunities for future growth.
Get started today at https://alioth.co
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Cam Wilson, JDI, 6179979715, [email protected]
SOURCE Alioth
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