Executive search companies are firms that recruit executives for companies that do not have the resources or technical expertise to find suitable candidates. Below is a comprehensive guide to executive search companies.
Why Work With an Executive Search Company?
There are various challenges faced when firms decide to use internal resources to recruit executive positions. For instance, the recruiting committee may not know what qualities to look for in a candidate since they do not understand what problems the individual should address. It is difficult for your employees to make an impartial decision when recruiting their boss. More often than not, they will be subject to bias since they may not want a fierce individual as their boss.
Executive search companies will examine your business operations, the challenges you face and the firm's strategic plan when recruiting a suitable candidate. Since they do not have any interests in your company, they cannot be biased. The companies will present skilled candidates who can help make your company profitable.
How Do Executive Search Companies Find Candidates?
Executive search companies conduct extensive research to identify suitable candidates. More often than not, a candidate's performance and work ethic will be tracked for years before he or she is considered for an executive role. The companies also keep track of candidates recruited in junior executive positions since they are likely candidates for top positions such as COO, CFO and CEO. Most executive search companies have close relationships with similar firms. As such, they will share information to ensure they give clients top talent.
Services Offered By Executive Search Companies
Most firms will give a list of between five and ten candidates that can fill the position. At your request, they will conduct interviews and present the most suitable individual. Some firms will help the individual integrate into your firm. For instance, they will give regular briefs on how your organisation operates.
How to Choose an Executive Search Company
Below are a few tips to help you choose an executive search company:
- Inquire about their specialisation. A company specialising in your industry may have adequate knowledge about what kind of candidate your firm requires and the challenges the individual will encounter at the workplace.
- Inquire about their experience. Examine the company's portfolio to ensure that they have worked with organisations similar to or larger than yours.
- Inquire about the recruitment process. For example, how will they select and interview candidates? How long does the process take?
- Inquire about their fee structure. Most firms will ask for a deposit. You will pay the remaining amount after recruitment.
Executive search companies are your best bet when recruiting executives. Work with an experienced, specialised and reasonably priced company.