“The Dog Ate Your Phone? Seriously?” CareerBuilder Survey Reveals Bizarre Excuses for Being Late to Work

Posted by: Mary Lorenz on March 17, 2010

With fewer employees coming in late to work these days than they did a year ago, you might think the well of bizarre excuses they come up with for being late was running low as well.

You’d be wrong.

According to CareerBuilder’s most recent survey, released today, 16 percent of workers said they arrive late to work at least once a week, down from 20 percent who said the same in last year’s survey. Eight percent of workers said they are late at least twice a week, down from 12 percent last year.

The decrease in tardiness could indicate that worries over job security may have workers taking punctuality – and their overall on-the-job performance – more seriously, says CareerBuilder’s vice president of human resources, Rosemary Haefner, in the press release.

Of the more than 5,200 workers who participated in the survey, 32 percent cited traffic as the biggest reason for being tardy, followed by lack of sleep (24 percent). Seven percent said getting their kids ready for school or day care was the cause of their lateness, while the same amount (7 percent) said bad weather was the culprit. Other common reasons included public transportation, wardrobe issues or dealing with pets.

And then…there were the following uncommon reasons employees have given for being late (according to hiring managers surveyed):

• “I got mugged and was tied to the steering wheel of my car.”
• “My deodorant was frozen to the window sill.”
• “My car door fell off.”
• “It was too windy.”
• “I dreamt I was already at work.”
• “I had to go to the hospital because I drank antifreeze.”
• “I had an early morning gig as a clown.”
• “A roach crawled in my ear.”
• “I saw an elderly lady at a bus stop and decided to pick her up.”
• “My dog swallowed my cell phone.”

Perhaps it is hard-to-believe excuses like these that help explain why 34 percent of hiring managers reported that they’ve terminated employees for being late (up from 30 percent who said the same last year).

Or perhaps employee tardiness indicates a bigger problem at hand, such as the need to better communicate the company’s tardiness policy, or simply a need among employees for a better work-life balance.

5 Sales Lessons Learned From The Great Recession

by Kelly Robertson

The past year was definitely interesting. Some sales professionals prospered while others suffered. I spoke to one person who doubled his income and he works in automotive sales! Yet, another well- established person experienced a decline of more than fifty percent in their sales. There are several key sales lessons that can be learned from selling in a recession. These will help you succeed in the upcoming year.

Companies are Leaner
This has been an ongoing factor for many years with continual downsizing and cut backs. However, the recession forced many companies to scale back even further than they normally would have. This has resulted in an extremely lean workforce.

What does that mean for sales people?

It means people are stretched even further and busier than ever before. It means it will become even more difficult to connect with decision makers. It means projects will be put on hold because people will be too busy to implement them. It means you need to find a way to help your customers deal with this. Make your solutions easier. Assist with the implementation. This also means respecting their time when you meet. If you have sixty minutes allotted for your meeting but you can wrap it up in forty-five then do so. Your customer will appreciate it and it will help you stand out from the crowd.

The Buying Process Has Changed
There is no question that decision makers in corporate America have changed the way they make buying decisions. Caution is now a standard business practice and I suspect that it will remain that way for years to come. This means you need to become more adept and proficient in your discovery process. You not only need to find out who is responsible for the buying decision but also what internal factors your key decision makers are facing that may derail the sale or prevent the process from moving forward.

This has always been part of the sales processor at least it should have been. However, it is even more critical to uncover this information as part of your discovery process. The sales professionals who get this will outshine their colleagues and competitors.

Signing Authority
Many decision makers no longer have the ability to sign-off on the same level of expenses or purchases that they were once accustomed to. This has significant ramifications.

The ego issue. Picture yourself in the executive office, perhaps a VP of Sales or Marketing. Until last year you could approve any purchase under $20,000. Now, you need to get approval from a purchasing committee for any expense over $5,000. Although you understand the philosophy behind this policy it is challenging to deal with because in your eight year history with the company you have never made a poor buying decision.

The buying committee. You may now have to deal with buying committees, and if youre not careful, you wont even get the chance to meet them. That means the decision to use your product, service or solution could be vetoed.

No approval. Some purchases simply wont be approved because of the extent or nature of the expense. Even though your solution may benefit the company, the organization may choose not to move forward simple because they know they wont get approval for the expense. Its not fair but it is a fact of business.

Once again, this means that you need to ask more questions to uncover the approval process. Be sensitive to the decision makers position if you discover that they no longer have the authority to sign- off on your product or service. Look for ways to help them facilitate their decision. Work with your company to extend payment terms in certain circumstances.

Value is King
Value has always been important in the eyes of the decision maker. However, it has become even more important. But, it is critical to note that this value is what they, the decision makers, deem as value. Its not about you touting the features, advantages and benefits of your product. Just because you think something is important does not mean your prospect or customer will. Value is in the eyes of the beholder only. That means you need to ask high-value questions to determine EXACTLY what is important to each prospect and each customer. Once you have accomplished this you need to adapt your sales presentation (aka sales pitch) to ensure that it addresses your prospect value requirement(s).

Make No Excuses
The sales professionals who prospered this past year were assertive in generating business. They did not use the recession as an excuse. They did not wait for business opportunities to come their way; they took responsibility and did whatever they could to reach their targets. This has always been a distinguishing factor between high-performing sales professionals and it will become even more important in the future.

These are just five sales lessons I learned last year. What did you learn from selling in a recession and are you prepared to make changes in order to make 2010 a great year?

As President of The Robertson Training Group, Kelley Robertson has helped thousands of sales professionals improve their sales with his engaging approach. He is the author of two books, Stop, Ask & Listen-Proven Sales Techniques to Turn Browsers into Buyers and The Secrets of Power Selling. He also publishes a weekly electronic newsletter called 59 Seconds to Sales Success which is distributed to thousands of people around the globe.

Learn more at www.RobertsonTrainingGroup.com.

4 Targeting Tips to Improve Your Prospecting

Doyle Slayton | Mar 17, 2010

Dirty databases kill morale. It’s so difficult to reach decision makers these days. More than ever, sales success is dependent on our ability to be more efficient. If you are like most sales people, you are working through a combination of various leads lists, and those who are wise, are managing their most targeted contacts through a CRM.

Most sales roles require high activity to achieve quota, and so we get wrapped up in call, call, call… persist, persist, persist. Ironically, the very thing that drives our success can also get us into trouble. This is especially true if you have a ridiculously large list of unqualified leads to filter through.

Let’s say you have three or four lists to call from. In addition, you have a “purchased” list that was dumped into your database. None of them are qualified and you are pulling your hair out wondering where to begin. To make matters worse, the database is filled with duplicates.

Filtering through name after name of unqualified prospects can wear you down, especially when you keep running into, “You have reached a number that has been disconnected.” Believe me, I feel your pain!

Here’s a list of four targeting tips you can use to immediately improve your prospecting efficiency…

Too Specialized – There are highly specialized industries that primarily work with partners specific to that industry. If your service doesn’t fit into that niche, you are probably wasting your time trying to convince these prospects that your product is better. You are probably not even speaking their language, and you lose credibility every time you call.

Wrong Size – Let’s use employee count as an example. If your company targets clients with an employee count of 50-500, you need to stay within that space. It’s easy to think the grass is greener on the other side.

With small companies, you become addicted to the rush of the quick sale, and the one call close… but at the end of the day, one of two things is happening. You are either missing quota, or you are exhausted because of the effort it required to beat your goals. In either case, you are left wondering, “How can I ever make this work long term?”

With companies that are too large, people get sucked in to unrealistic projections. As the deal progresses, so does it’s complexity. Again, it takes a toll on your time and resources. Your entire pipeline takes a nose dive, and you have very few deals that can close “today.”

Of course, people will ask, “Should I turn that business away?” The answer is simple, “No.” If an opportunity presents itself organically, take it, but when it comes to your everyday activities, don’t intentionally seek out and chase those types of accounts. The odds are not in your favor.

Off Target Demographic – With this example, let’s say you have a highly sophisticated product. It can do “backflips on the freeway” if you asked it to, and is best suited for white collar businesses. You know you are selling to the wrong demographic when they can’t see it’s value.

Not a User – Some companies do everything in house. They don’t currently use your type of service. Although they have met with other vendors, they have always kept things internal. Why waste your time banging your head against this brick wall. Move on!

If you are in a high activity sales role, you should be striving to maintain a “clean” list of 200-300 qualified prospects. Now when you call, call , call… persist, persist, persist… the results will be dramatically different! You’ll be back to your old self… believing, “This is what I was born to do… sell!”

What Makes for a Great Leader?

By Debra Wheatman

What makes for a great leader? Are leaders born, or can they be molded? Whether or not someone has the capacity to be a great leader, they still need to be molded and nurtured. What are the traits that define leadership anyway? You asked. So, in a nutshell here they are:

Vision: Leaders have a clear vision of where they want to go, specifically related to an organization, how they will grow it into a well known business with a recognizable brand that differentiates it from its competition. However, vision alone is not enough. Leaders not only have this vision but also are able to develop and implement a plan for success. Passion and drive complete the picture; leaders are also able to share their vision and generate support from others to fulfill the goal.

Focus and Discipline: Strong leaders are disciplined. They set priorities and single-mindedly create a set of actions that they fulfill. This focus enables them to drive action and achieve results. You can spot a good leader because they are so focused on the goal while inspiring and encouraging others to participate.

Trust and Values: At the core of every true leader is a trust and value system that hinges on integrity. Leaders display a genuine character and never sway from a truthful path. Leaders do not take short cuts that have the potential to harm the business. They would rather take a bit longer and ensure that integrity is maintained rather than pursue a less righteous path. They are honest, forthright, and controlled to ensure that others feel comfortable in approaching them with information and ideas. This ability to build trust generates followers that are highly loyal.

Shared Success and Shared Failure: Great leaders share success with others, and also failures as well. They have the ability to credit others with success and also take responsibility for failures. The ability to take the good with the bad and share it all is the hallmark of a leader.

Humility: "We are all human." Leaders recognize and embrace this. They do not put themselves on any pedestals but treat others the way they expect to be treated and work to support the overall efforts of a group. They are receptive to new ideas and realize that they are not the only ones that can foster change. A good leader listens and can accept that a different way of doing things might be better than maintaining an existing situation. They do not judge but are open, establishing trust and mutual respect.

Humor: Above all leaders can use humor to create camaraderie and generate support. There is nothing like a good dose of laughter to diffuse a tough situation.

There is no doubt that some people are born leaders. However, those traits need to be nurtured to realize their full potential. So there is more than a dash of molding that needs to be thrown into the pot and stirred to 'produce' someone who can truly inspire, motivate and lead others to achieve greatness.

What is the Best Time to Call Prospects?

by Jeb Blount

We received this question from a reader named Jay from Houston who asks, "Jeb is it better to contact a prospect during the morning than the end of business day? Do you think they will be more likely to be chipper and more receptive to my call in the morning?"

Is there a best time to make prospecting calls?

This is one of the most common questions I get relative to telephone prospecting. I get this question from salespeople across all industries and all experience levels. There are several reasons salespeople ask this question:

A) They are truly interested in timing their calls.

B) They are frustrated and just venting in which case my answer falls on deaf ears.

C) They are seeking validation for not making their prospecting calls and the question is being used as a cop-out. In this case they do not like my answer.

A great analogy for timing your calls is investing. The investor who attempts to time the market has historically failed to beat the investor who uses a dollar-cost-averaging strategy which is essentially making incremental investments on a regular schedule over time.

If you think about prospecting in the same vein, salespeople who prospect daily on a regular schedule are always more successful over time than those who make the attempt to time their prospects. Like investing, statistics are always in the favor of the sales pro who does a little bit of prospecting every day.

There are of course some industry norms that must be taken into consideration. For instance, if you call on industrial or manufacturing buyers you will find them in the office much earlier in the morning than buyers in the banking and financial services industries. With that in mind it is reasonable that you time your calls so that the people you are calling are actually in the office.

Outside of that my recommendation is that you forget about timing and focus instead on calling - every day. Though it may not seem like it when you first get started, when you make a regular number of out bound dials each day, over time, you will make more calls, reach more prospects, and keep your pipeline overflowing.

Prospecting is the most important activity in sales. It is also frustrating and uncomfortable. No matter how much you wish it to be different, the vast majority of your calls will go to voice mail, you will deal with rude gatekeepers, and you will often catch prospects at the worst possible time in their day. That is life in the sales world. And despite the ongoing fantasy that there is some magical time when prospects will welcome your call with a kind voice and an open mind, nothing will change this fact.

It is because prospecting is so difficult that I recommend making your prospecting calls first thing in the morning; not because the prospect is in a better mood, but because you are. You will feel better, sound more enthusiastic, and weather the inevitable rejection much better. Most importantly if you tackle prospecting first thing in the morning it is more likely to get done than of put off. Never, ever forget that prospecting procrastination is the number one reason salespeople lose their jobs. It usually goes something like this. Johnny , the sales rep, says to himself:

"I shouldn't call these prospects at 8am because they are just getting in the office. I'll give them some time to settle in."

"I shouldn't call these prospects at 10am because they'll be in meetings. I'll wait until later."

"I can't call now because it is lunch time. I'll wait until later."

"I shouldn't call now because they are probably returning phone calls after lunch. I'll call later."

"It's 3pm and calling now is a bad idea because the prospect is probably not in the mood to talk to a salesperson this late in the afternoon. I'll call a little later."

"I can't call now because it is 5pm and it is time to go home. I guess I'll try again tomorrow."

Johnny, who has repeated these same lines day after day and by now is failing, approaches me after a speech or sales training and asks, "What is the best time to call prospects?", secretly hoping that my answer will help back up his lack of activity. I see right through the smoke screen. My advice is and always will be the same. Forget about timing. Focus instead on consistent, daily prospecting and I promise you will never worry about where your next sale is going to come from.

Clarity or Diversion?

By Eric Pennington

From JobDig

Does your organization call meetings for strategy or diversion? If you ask many employees (specifically non-management) you would get an answer of "diversion."Â What causes people to hide from strategy and embrace diversion? It's simple; fear brought on by the absence of clarity. Fear paralyzes individuals and organizations so that a clear path is unable to be charted.

When organizations or individuals lack clarity and direction they resort to diversion. When you don't know where you're going, you can't give directions on how to get there. In many ways, your success can contribute to this condition. Success can often cause you to relax. It can cause you to put things off, or worse, hold onto what got you to the success you're experiencing today. Rarely does yesterday's success provide sufficient fuel for tomorrow's challenges.

We have become soft. Like the prize fighter who is tired of the rigors of training, not realizing that the training is what delivers the title belt. Corporations and the senior leaders within are complicit in allowing this state to continue. When organizations are fixated first and last on quarterly numbers, clarity goes out the window. When your only strategy is making money you can't truly strategize on core growth.

Consider the following as you seek to move to clarity and away from diversion. All of these solutions are rooted in the art of making decisions:

• Decide what you want and be prepared for the consequences (good and bad). If you want clarity you need to prepare for it to cost you something. Your family may shake their heads, your boss may laugh or maybe you'll doubt your decision hours later. Every profitable decision carries a price. The beautiful part is you get better and learn more as a result.
• Decide to seek help. You may call it a life coach, a mentor or a pastor. Regardless, all performers know that asking for help is a major step toward breakthrough and greatness. You don't get to where you want to be alone.
• Decide to stop doing certain things. These might be habits, career or even relationships. In a recent interview, the actor Denzel Washington said ending certain relationships helped him as he crossed 50. If a habit or a person doesn't contribute to your growth, then why are you involved?
• Decide that you'll finish well. This might be the biggest decision you'll ever make. A dear friend told me once that when his dad passed away, he knew he had finished well. That's life-changing leadership, and that's a life well lived!
• Decide not to give up. There will be times when you won't think your pursuits are worth the trouble. There will be times when it seems the odds are stacked squarely against you. No matter where you find yourself, just don't give up. The only exception to this is when quitting get's you closer to your destination (thank you Seth Godin).

Whether you are the CEO or the mail room clerk, clarity is important. Diversion only leads to wasted opportunities and regret. Think about the preferred future you desire and how that makes you feel. One thing is for certain it won't happen without clarity of mind and clarity of direction.

Over 70 Percent of Workers Age 60+ Can’t Afford to Retire, New Survey Finds

• Posted by: Mary Lorenz on March 3, 2010

Stop me if you’ve heard this one…Money problems continue to plague American workers.

The latest evidence comes from a new CareerBuilder survey out today, showing that financial restraints are now putting a crimp in many older workers’ retirement plans.

According to the survey, 72 percent of workers over the age of 60 who said they are putting off their retirement are doing so because they can’t afford to retire. When comparing genders, the survey found that three-quarters (76 percent) of female workers over the age of 60 who said they are putting off retirement are doing so because they can’t afford it, while 68 percent of males said the same.

It’s Not All About the Benjamins…
According to the release, financial reasons are not the only grounds for postponing retirement for workers over the age of 60.

Other reasons cited among those putting off retirement include:

• Either enjoy their job or enjoy where they work and don’t want to leave it (71 percent)
• Plan to stay because they need the health insurance and additional benefits provided (50 percent)
• Fear retirement may just be boring (24 percent)
• Enjoy feeling needed (15 percent)

If you work with or supervise mature workers, be ready in case they decide they want to stay aboard a little bit longer than originally planned. “Twenty-seven percent of hiring managers say they were approached about postponing retirements last year and were open to retaining mature workers,” sais Jason Ferrara, senior career advisor at CareerBuilder.

Employees wanting to postpone retirement could actually be good news for companies that are worried about losing or replacing some their most skilled, experienced and loyal workers during a time when they need them the most. If you’ve already replaced them, consider whether you can keep them on in another role or department, and see if they’d be open to that.

Help Yourself By Helping Your Employees Plan for Their Future
Whether postponed retirement is an issue at your company or not, right now might be a good time to check in with your employees – who are likely overwhelmed by the effects of the slow economy – and see if you can’t help ease their burdens. After all, if they’re focused on financial strains, they’re not focused on much else (as in, their work duties), and that doesn’t reflect well on you.

Rosemary Haefner, vice president of Human Resources at CareerBuilder, suggests setting up a meeting with your employees and members of your HR department, so employees can learn or be refreshed on what is available to help them save on monthly expenses. (It’s likely that your company offers a lot of benefits employees aren’t even aware of.) An informal meeting in which employees can ask questions and clear up uncertainties may be extremely helpful for them.

2 Ways to Outsell Your Fiercest Competitor!

Doyle Slayton | Feb 28, 2010

If you are in a highly competitive industry, you are always going up against an arch rival that’s chasing after the same business opportunities. They are a formidable foe. Just like you, they are willing to work harder than anyone else, they crank out the phone calls, they are relentless about follow-up, and if it comes down to a price war… they will practically give it away just to beat you.

When you win, it’s pure joy, excitement, high fives for everyone! It also comes with a deep breath, a sense of relief, exhaustion, and the thought of, “I have to keep finding new ways to beat these guys!”

Here are two tips to keep you winning against your fiercest competitor…

1. What makes you different and why is that better?

The worst thing you can hear from a prospect is, “That looks very similar to (insert competitor’s name here),” or they might say, “Everyone says that about their company.” Those two statements burn me up! They serve as a reminder that we must get better!

Beauty is in the eye of the beholder, and if your presentation looks and sounds like everyone else, your chances of winning are well… just as good as everyone else.

You need to have an imaginary sign in front of you… with big bold letters scrolling through that says, “WHAT MAKES YOU DIFFERENT? WHAT MAKES YOU GREAT? WHAT MAKES YOU BETTER THAN EVERYONE ELSE?” Build that greatness into every presentation. Make it a part of your story and reinforce it by applying it to your prospect’s needs.

2. Create opportunity around your competitor’s weakness?

If your prospect says they are looking at other vendors. Ask them…

“Who are we up against?”

“How would you compare our product with theirs?

You can learn a lot about yourself and your competitors here. Listen closely. Some prospects will reveal more than others. Gain as much information as possible. Then, without sounding defensive, and without being classless about bashing the competition, you strategically make your case. I’ll share a couple of scenarios…

Let’s say you are going up against their current provider. You might say…

“How are they doing with… (insert competitor’s weakness)”

“That’s an important point of comparison. Based on (insert what’s most important to prospect on that issue). Here’s how we handle it…”

Let’s say you are going against your rival who, like you, is trying to win a new customer. You could say…

“How would you compare their product with ours?”

“We go up against them all the time. I recently brought on (insert accurate number of takeaways) of their former clients and they chose us because (insert important reasons that apply to your current prospects needs). That’s why I believe we are also the better option for you. In fact, I’ll get you some references, former (insert competitor here) clients that will tell you why they like our product better!”

There are a lot of people who think it’s a bad idea to engage in conversation about the competition. If you do it the right way, with class, you gain the advantage. Your quota, your job, and your livelihood all depend on the deals you win. There is no room to be timid. Be professionally aggressive and crush the competition!

Leads for Less with Social Media

Good article on lead generation--the new way...

http://www.emarketer.com/Article.aspx?R=1007534

Talent on tap

Schumpeter

The fashion for hiring temps has reached the executive suite

Dec 10th 2009 | From The Economist print edition

Illustration by Brett Ryder

TEMPORARY work is all too familiar to the masses. Farmers have always relied on seasonal workers to plough the fields and pick the crops. Companies have been hiring temps to answer the phones and do the filing for as long as anyone can remember. Now a new group of people are experiencing the joys of the flexible economy: the managerial elite.

The practice of appointing interim bosses actually originated in Europe some years ago as a way of coping with the continent’s rigid employment laws. But European companies were always as discreet about the practice as possible. Now the habit has reached the United States, and Americans are doing what they do naturally: shouting about it from the rooftops. No with-it company can be taken seriously without a “flexible boardroom” and a “just-in-time talent pipeline”.

The past few years have seen the birth of several companies that hope to do for managers what Kelly Services (née Kelly Girls) and the like have done for secretaries. Call the Business Talent Group (BTG) in Los Angeles or Epoch in Boston, for example, and they will be able to offer you anything from a chief executive to a forensic accountant. If you have more specialised needs you can call Tatum (which specialises in financial executives) or the Nielsen Healthcare Group. The market for executive temps is so buoyant that even old warhorses of recruiting, such as Heidrick & Struggles, are sticking their noses into it.

The trend raises two obvious questions. Why would a company choose to hire a part-time boss? The boardroom is, after all, one place where you need a measure of continuity. And why would a high-flying manager accept a temporary job rather than holding out for a permanent one? Groucho Marx once quipped that he would never join a club that would have him as a member. The world of temporary managers is surely full of people who possess his exacting standards without his self-awareness.

Companies tend to employ temporary executives to cope with a crisis: the chief executive mucks things up or decamps to a rival, or the chief financial officer turns out to be innumerate. Traditional search firms can take six months or more to fill a sudden vacancy, not least because they only look at people who already have jobs. Temporary talent agencies can fill a gap in a couple of weeks. BTG provided the Carlyle Group, a private-equity firm, with a boss for a packaged-goods firm it owns when it needed one in a hurry. It has also provided chief financial officers at the drop of a hat for such tech firms as Internet REIT and Axcient.

Another common reason to take on managerial temps is to tackle a short-term problem without acquiring a long-term obligation to an expensive executive. Companies only go public once. So why hire a permanent chief executive when you can hire a temporary one who has a long track record of taking companies public? The time it takes to launch a new product is shrinking as fashions shift more quickly and product cycles get shorter. So why not bring in a group of temporary managers who will disappear as soon as the goods hit the shelves? When Fox Mobile wanted to develop new screensavers and videos for its phones, for example, it hired a temporary creative director.

The new talent companies boast legions of people with MBAs from the best business schools and spells working in the best consultancies and banks. Some have no doubt been forced to take up the temping life after being downsized in the recession. Temping carries quite a stigma, judging by how few firms or executives admit they are resorting to it. But there are reasons to embrace the new regime, which allows senior managers to work part-time, in effect, and pick and choose the jobs that appeal. Firms such as Eden McCallum and Axiom Legal, which offer freelance consultants and lawyers for hire respectively, and which were both founded long before the recession, provide professionals with a respectable way to control when and how much they work. The growing demand for temporary executives simply extends the same opportunity to senior managers.

Fleeting or lasting?

Are these new talent companies this generation’s version of Manpower (which has grown from an eccentric start-up in 1948 to a global giant with more than 4,000 offices in 82 countries)? Or are they exploiting a passing fad which will fade when the economy recovers and high-flyers realise that safe jobs are preferable to sitting by the phone waiting for the talent agency to call?

Fans of the new fashion argue that temping is the wave of the future in all rich countries, as they evolve from what Peter Drucker called a “society of organisations” into a “society of networks”. More than a quarter of all American workers now classify themselves as “free agents”, and half of America’s temps are professionals of one kind or another. Advocates of temping also argue that the traditional market for managers—and particularly for chief executives—is hopelessly inefficient. A growing number of companies have been hiring bosses on the open market. Yet nearly 20% of those bosses depart within 18 months. Temporary talent agencies can give their customers a chance to “try before they buy” as well as filling the job immediately. BTG reports that a quarter of the bosses that it has put in temporary jobs have been offered permanent positions.

There is no quarrelling with the fact that the market for chief executives is one of the oddest and least efficient around. But that is no reason to get carried away by this new management craze. The most successful companies, such as Procter & Gamble and General Electric, are more than just ever-shifting nexuses of contracts. They are self-replicating organisms that possess distinctive cultures and unique habits—cultures and habits that are preserved and perfected by a loyal cadre of managers. You can certainly buy lots of wonderful managerial skills on the open market. But true corporate greatness is home-grown.