They have different approaches, although they might have the same purpose.
However, handling executive search and recruitment as the same can cost you expensive mistakes, tiring and long recruitment processes and even the wrong placement.
The reason why executive search is the most wanted is because the consultants are always on the hunt of top talent. These talents are gladly working in a cosy workplace and are not eager to change their jobs. These are the professionals, whom most companies are looking out to employ. These people work on top level job profiles and have superb business and product experience and knowledge. Additionally, employers believe these top experts will be an advantage to their business development. Therefore, they will deliver the business to success.
The hiring process and method of executive search is greatly different than the typical recruitment process for enter-level or mid-level experts. Enter-level or mid-level candidates are experienced job seekers who are registered with several job portals and sites. They are on the hunt of new job opportunity that are convenient to their background, skills, location, etc.
On the other hand, professionals working at C-level positions are often directly approached by executive search consultants. If they are presented with a strong and challenging job opportunity, they may think about chainging their current career. There is another main difference between executive search and recruitment that is the way the consultants work with the clients. Executive search requires many resources and will give the clients a thorough understanding of exactly what they need in order to fill their position. The major task here is to manage the timeline of the whole project, the type of candidates on the market and more importantly the set of professional skills. Executive search is usually use for senior hires, strategic placements and roles that are difficult to find.
Simply said, executive search includes targeting the best talents available on the job market for a role. Moreover, this specific approach encourages them to engage and change their plans, direction by accepting an offer with a new company. On the other hand, recruitment involves attracting suitable candidates to apply for a position. However, the differences spread out deeper than the distinction between finding or attracting the best applicant for a role.
The process of recruitment demands expert skills and background in creating appealing job advertisements, crafting exciting employer branding. Moreover, knowing the best job boards and sites to advertise, quickly identifying the best candidates in order to invite them for an interview.
On the other way round, the method of an executive search requires expertise in accessing the passive and active candidates. Additionally, identifying the right professional for the position. Then carefully persuading them to think about this new career and attend an interview.
Of the two, recruitment is typically less time-consuming and accordingly, costs less than executive search method. Recruiters are quick to identify skills, post job ads and screen the best candidates for the next step. This makes recruitment ideal for everyday hires and urgent openings, where a number of active candidates will likely fit the position. Especially when there is a pool of applicants to demand.
Businesses typically partner with executive search consulting firms for senior level roles such as directors or C-level executives. Their solutions are most suitable when it’s difficult to relocate and hunt top talents to make a change.
Generally, the services of recruiting agencies are used for non-executive positions. Due to unspecialised nature of positions, they often shuffle candidates who aren’t fit for one opening to apply for another.
If there is no shortage of skills, you can afford to hire any qualified candidate for a specific position. But if there is a critical skill shortage or the required position have a direct influence on the business growth and environment, you should better partner with an executive consulting firm that can select top talented candidates.
For junior and non-executive roles, recruiting agencies may be the right choice. The recruitment companies generally have a broader pool of talents. They are able to give you a wide list of potential candidates for the job.
On the other perspective, if you want to fill an important executive position, executive search agency is your best preference. The companies offer a restricted but highly qualified pool of talents. There is less risk of selected the wrong professional for a particular role when you hire an executive search company. An executive search company is your best choice, when you need a professional with a special cultural fit, specific skils, or performance background.
If you’re unsure which method is best for your next opening, or you’d like to know more about the differences between executive search and recruitment, Horizons Bulgaria can support. We offer both services! Get in touch today to find out more.
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