Executive search includes targeting the best talents available on the job market for a role. This search is mainly focused on attracting and motivating senior executives and C-level profiles.
The Executive Search area is a market with many fragments delivering a wide range of useful options for companies that are needing to hire critical vacancies. So, how do you navigate these challenges to find the right partner who can deliver the best result for your business needs?
Unfortunately, this is where most of the companies start. Here are the following reasons for these mistakes.
Primarily, find an executive search partner you can trust. Retained executive search companies require an upfront fee to dedicate the necessary efforts needed to manage an effective hiring process. It is opposed to a contingent model where there is only a success fee. Hiring is the most important thing you’ll do in growing your business. So, invest in external professional help.
The goal is to identify an executive search company that concentrates on being your partner on successful recruitment rather than just adapting you into their model.
According to the study by Kinsley|Sarn there are recognizable traits to assess potential executive search partners.
Ask to get in touch with experts who will be doing the search – interviewing and assessing candidates, conducting reference checks and psychometric tests if needed, etc.
It’s likely you’ll be pleased with the candidates they choose to present for your consideration, if the search partner has the needful background to know what top talent looks like.
You want to work with a business partner that requests information about your company’s culture, goals and values, ask questions to your key stakeholders and high potential/high performing employees. Moreover, your partner takes the time to identify the key success features and achievements.
The report said that your business partner shoul go beyond the list of job accountabilities for the opening. They have to get a comprehension of the crucial success traits. These features identify a prospect’s new placement’s success or failure. Only this way, an executive search firm will be able to present fully qualified candidates.
“You also need to be sure that your prospective executive search partner isn’t just shuffling the CVs they have to get a swift fit with your needs,” Kinsley|Sarn said. “Evaluating active and also passive applicants is very important to a beneficial search. Often the best talents are not active in the labour market. Knowing what the perfect talent fit is likely doing now, the employer he may be working for. Additionally, how to approach him is the job of a right executive search partner.”
This is a crucial distinguishing way because most companies and most positions where a retained executive search is appropriate are unique or at least have unique approaches to the search.
Bigger executive search firms tend to pursue volume and follow a specific process to get the project closed as quickly as possible, said Kinsley|Sarn. This is a one-size-fits-all method.
“A more helpful interest and attitude by an executive search partner can seriously increase the possibility of a successful transition,” the study said. “It also nourishes the relationship between the client company and the executive search firm, and it increases the ROI for both.”
“Whether you prefer to handle the onboarding process inhouse or are open to outside support, using the best practices of an executive search firm with a proven track record of successful placements and transitions is another important key in choosing the appropriate executive search firm.”
Finding a retained executive search partner should be similar to how you find your lawyer. Both are providers of professional services and should be perceived as advisors. We would rather advise you to question people you trust in your network who they recommend from their experience. It would be best if you found two proposals this way.
It’s also important to understand what the candidate experience will be when working with the company because the firm will be the first impression candidates have of you and your company. Are you and the executive search company aligned on this experience?
With that said, it’s a good perspective to verify who will be interacting with you and the applicants throughout the process. It’s OK if it’s two different people. Just make sure you meet everyone involved.
If they confidently describe an effective process, reveal the ability to provide an exceptional candidate experience and have proper background, you’ve found a good executive search partner.
Working with an executive search partner can support moving your business forward. For more thorough information on partnership with Horizons Executive Search, please contact us today. We are here to help you build a great team!
Photo credit: Freepik