UPDATE: And so it ends.
http://www.washingtonpost.com/business/technology/yahoo-chief-executive-resigns-company-adds-new-board-members/2012/05/14/gIQAzfjaOU_story.html
It's very sad to watch someone's career, or even a company implode. This unavoidable, and logical conclusion to a simply STUPID series of decisions, errors, 'blind eyes', and tragic group-think is neither the first, nor the last of it's kind. This stuff happens at 'regular Joe's' level too, you just don't hear about it.
In the last week, I've screened - close to a hundred candidates, and of those, have uncovered 2 with serious material errors - outright lies - on their resumes. First round screening, mind you! We hadn't even gotten to vetting, and the lies were that blatant, as to be easily picked up on. These are NICE people, who, for whatever reason have decided that it is OK to embellish. Some say that as much as 40% of resumes contain such errors.
I don't know where society went so awry - it is easy to point to Bill Clinton, or Richard Nixon.....if the president lies, it must be OK. If the presidential candidates exaggerate, stretch the truth....LIE (and they're both doing it daily)...it must be OK for the 'average Joe' too. Right?
NO> Wrong is wrong. Be yourself. Be better than this sad trend. We have all made mistakes - Lord knows I have. We are only human. Society may ask for, demand, or expect leaders to be 'Perfect' or 'Superhuman', but folks, this just isn't going to happen. Let's try starting with the simple stuff.
Jamie Dimon had an actual fiasco this week. http://www.washingtonpost.com/business/dimon-jpmorgan-was-sloppy-and-stupid/2012/05/13/gIQAHx0NNU_story.html I won't go into a rant here about how the US Postal Service is perpetually losing money at the exact same rate, or how investments DO carry risk and DO go bad sometimes, and how the ability to FAIL is exactly what defines SUCCESS. However, the difference in how a self-made fiasco is handled is striking. Own your mistakes as soon as you recognize them. Mea Culpa and move on. It's the right thing to do.
Eric
ORIGINAL POST FROM 05/03/2012:
An article hit the web today, about Scott Thompson, new CEO at Yahoo. It alleges lies or errors were made about Scott's education credentials. Apparently, this was a Board directed search team's hiring decision, without assistance from a Search Firm - and perhaps the vetting wasn't as complete as it should have been.
http://www.usatoday.com/money/industries/technology/story/2012-05-03/scott-thompson-yahoo-degree/54732858/1
Regardless of what anyone says, or any seemingly harmless 'oops'....Yahoo isn't well served by this tempest, if only in a teapot. It damages credibility. It hurts morale. It creates gossip.
Here is what we know about sensitive hires, or quite frankly, any hire - Vetting counts. Trust but verify.
In 13 years doing Executive Searches, our policy has always been that every candidate we are sending into an interview has been vetted and verified on educational credentials before the interview takes place. Why to we go to that expense and effort? Because our clients reputation, and our reputation depend on accurate information used to make decisions. And frankly, it's not all that uncommon to find lies in this area....sad but true.
It's just how we run our business. Some people didn't check out - they lied, or embellished (which is the same as lying). Some mistakes were caught and corrected before anyone got egg on their faces...in Yahoo's case, there's some egg, which is damaging to the company's image. Don't risk damaging your image. Don't go it alone. Professional Search Firms can be a company's greatest asset, when evaluating their greatest assets - People.
My staff and I work with Boards on C-level searches and with nearly every other level of people on talent selection every day. Give me a call if you'd like to improve your team's hiring record!
Eric Myers
815-929-1900 x11
