How does an Executive Search Company work?

Recruitment is a very crucial process for any firm or organization. Where this procedure can take an institute to the heights of success, one wrong decision during this process can cause downfall.
Companies practice recruitment to fill vacancies by hiring compatible candidates after conducting a thorough selection procedure. This process might take days or even weeks to hire perfect individuals. And in the case of hunting an executive, the duration may exceed to months. Comparing to regular staff, executives play an important role in the performance of a firm. They are the experienced individuals who are capable of setting an organization on a track of success and profit through their talent. Hence, every company aims to hire most eligible and brilliant executives to achieve higher brand status in shorter duration. For this purpose, the trend of hiring executive search firms is growing rapidly.

A best executive search company manages to cater the recruitment needs of a firm by understanding all elements from job requirement to corporation’s culture. It provides you with proficient individuals who confirm the progress of your firm.

Every executive search company follows a proper procedure of recruitment to eliminate all kinds of flaws during the selection process. Here are the 4 major steps followed by almost all good executive search firms:

1.Develop the Search

The first step is to develop a proper search for suitable candidates according to the job requirement and client’s specifications. During this initial process, the recruiters of an executive search company conduct meetings with clientele to understand their priorities regarding employees. They also manage to learn about company’s culture and suitable characteristics of the ideal candidate. This whole information creates a fundamental lead for executive search firms to begin the search for vacancies.

2.Candidates Identification
After developing search profiles for all open positions, the executive search firms begin the next procedure of identification. Following these profiles, recruiters start picking candidates that suit the requirements most. They manage to identify talented candidates who have the potential of investing profitable efforts. Recruiters prepare a long list of suitable candidates after identification.

3.Shortlisted Individuals
Next, comes the process of shortlisting the qualified candidates and choose the ones that are irreplaceable and hold flawless skills. During this process, recruiters conduct interviews either on telephone or face to face. Interviewing the qualified candidates allow the recruiters to judge if they will fit into the culture and environment of the organization or not. Those individuals who perform confidently in the interview and satisfy the recruiter, proceed to the final step!

4.Proper Closing 
At last, an executive search company also helps the organizations with proper closing of vacancies after hiring procedure. The recruiters consult selected candidates and employers to bring both parties to one table and make them sign a contract to work profitably without any confusions.

All in all, executive search companies are only focused on providing productive candidates with beneficial talents!

Important Questions to Ask Before Hiring an Executive Search Company

To hire an executive search firm is not an easy task as a lot of factors need to be considered while doing so. You would definitely want to work with the best firm in this regard so, in order to find one, you need to ask the following questions. These questions will help you determine the working of the firm and whether it is an ideal choice for you or not:
 
What is the process followed by the firm?

It is very important to know how they qualify someone for a particular position. Their methods should demonstrate an ability to identify the complete nature of the position and to provide the best candidates in this regard. Also, you must get to know how they manage the search process itself. What kind of means do they resort to when finding talent? You might ask them about their preferences pertaining to active or passive talent as well.

Will the organization serve to be a credible ambassador for your firm?
Every company has distinct needs and follows a unique corporate culture. You need to make sure that the firm only finds such candidates for you which can easily fit into your company. For this, your first step would be to confirm whether the executive search firm itself can represent your company in the best way or not. This way you’ll know whether the firm will create positive (or even negative branding) for you or not.

Who will be responsible for the search?
The best executive search company has the best of staff and hire only talented individuals to work on the executive search process. It is very important to see whether the company is giving your project a high level of priority or not? What are the credentials of the professionals who are handling the task? The answers to these questions hold a lot of significance in the quality of the search conducted by the firm.

Does the firm has knowledge about your industry and the position in question?

Complete knowledge of the industry and having the necessary skills and experience are very important to carry out an effective executive search. You would not have to explain all your needs to the firm and they’ll be able to find the best choice for you all by themselves. Get to know about their contacts in the industry too because that will serve as an additional benefit for you.

What metrics are benchmarked by the firm in the search?
There are a lot of things which you need to know about beforehand including the average time of the search, the intervals where you will be getting the progress reports, and the average retention rate of the firm after placement. These things will help you form a clear idea about the working of the firm.

The best executive search firms are able to satisfy their clients well and provide them with outstanding search results.


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Key Benefits of Hiring Top Executive Search Firm

Top executive search firms are expert headhunters with great experience in the domain. They have the expertise to find the experienced and the right candidate for the right position for their clients. The main objective is to choose a candidate among plenty who can fit into executive level jobs in a particular company with great ease. In addition, some of the key considerable factors are:

•    The matching qualifications

•    Experience of certain number of years

•    Proven track record in similar capacity

The top executive search firm is a perfect solution for dealing with senior level management positions. Here is a list of few of the benefits of hiring the services of a headhunter agency.

Strong and Long-Term Connections with Key Professionals
Proficient recruitment agencies enjoy plenty of industry acquaintances. They have contacts with highly qualified people through smart networking. These agencies nurture long-term relations with professionals of diversified industry and nature. Such an agency can facilitate you with plenty of choices to choose from.

Executive Search Firms Help Saving Money and Time Both
In general, the myth is that such firms are expensive and the process of candidates screening, recruitment, testing, and evaluation should be done in-house as it is inexpensive. However, that is not the case. In reality, these firms save a lot of time and money. They own a large database of qualified and already evaluated potentials candidates. In addition, they have personal connections with professionals working at senior level. The advance, internally deployed HRM system enables them to sort out the chunk of the employees who fall under a specified criteria and then they are manually chosen considering the company and their additional requirements.

All this process can be highly time-consuming and costly if the companies do it their own. 

Superior Interview Skills
Executive headhunters not only help their clients finding the right candidate but they also help in interviewing those candidates. In most cases, such firms have highly qualified organizational psychologists hired to do critical analysis. Complex HR oriented tests such as psychometric testing etc. are commonly practiced to ensure the quality of the candidate recommended. This leads the company to get in touch with the candidates of highest potential. 

Being a company it is extremely important for you to ensure that you have reviewed the past performance clearly before you hire any executive search firm. In addition, make sure that you have consulted your peers in the industry about the reputation of the firm. There is no doubt a good executive search firm means that you have ended up with a great HR partner.

3 Tips for Hiring the Right Executive Talent for your Startup

Executive searching is certainly a difficult task as you will never like to end up hiring a wrong candidate for your startup. Unfortunately, every person who starts a business assumes that he or she has expertise in all the departments only because they have started a business. It is certainly not true. In reality, it is never that easy, especially with the current talent market the process of recruitment and selection has become more difficult. Hiring an executive search firm is the best option for you.

However, there are five important tips for executive hiring for your startup. 

Do Not Hire Your Friends
Working with friends is always a great experience, however, there is no guarantee that a good friend will be a good co-worker too. Do not hire your friend unless they actually have the right skills and experience. It has been seen many times that founders (and co-founders) start their business hiring their friends. Once the business starts rolling, the friendly hire can turn out to be a hurdle or obstacle in the way of taking your business to the next level.

To some extent, hiring someone you trust do make sense but if your friend does not have the right skills and experience, the higher probability is that you will end up in losses. In fact, this can hurt your relationship with your friend too.

Identify the True Objectives in the role before interviewing people
One of the common mistakes done by startups is that the requirement to hire an executive begins with designing a generic job description. Only after the interview stage, they figure out what they thought and what they actually needed. Your startup brand will suffer in this way. Therefore it is extremely important to identify the objectives and the job description of the new hiring so that it will save your time and energy.

Never Hire Someone You Are Not Sure of If He will fit In the Job
On occasions starts up rush to hire fast and this is not a good decision. Many time the decision has led to wrong hiring eventually ending up creating far more problems. If your startup is looking to hire someone, go slow and steady.

The ideal situation to avoid all such problems is to get in touch with an executive search firm which will help you out in a better way. As their ultimate goal get you with the best workforce for your business.

12 Reasons Why Companies Need Executive Search Firms

When recruiting a senior position officer, the companies usually go for the best executive search company out of the lot due to a variety of reasons. The companies are hiring for a very important position which will be responsible for taking the firm forward and leading the workforce. Therefore, no risk can be taken as this is not just some ordinary hiring but investment in the future of the company. Here are the top 12 reasons why executive search firms are chosen by businesses:

1.It is not just about hiring a good candidate but you need someone who excels in the job. Most of the companies have an intention of hiring the top performing talent and the best executive search company can do the job.

2.These firms search aggressively for the right individuals and dig out the best candidates for the job, unlike the usual recruiting firms which rely on job postings.

3.Only an executive search firm can help in finding an individual who is the jack of all trades. They screen candidates and choose only those which are a right mix of talent, education, expertise, and experience along with being culturally fit for the company.

4.The companies do not have the knowledge and skill to capture the right talent at times. This is where these firms can help because they just know where to search for the job position created by the company.

5.If the companies need a replacement for an already working executive then these companies help in keeping a veil of secrecy.

6.These firms provide the kind of confidentiality which is necessary for working in the field where you have a number of partners as well as competitors. Without having any effect on the corporate relationships, the recruiting process will take place.

7.A very thorough research is conducted by these firms while ensuring equal opportunities for all individuals.

8.If a company has sensed that an executive might leave, the search firm will help in making an option readily available.

9.Researching for the right candidate requires a lot of time and energy and no company can afford to miss out on so much business and opportunities. This time can be utilized for the growth of the business while letting the executive search company do the recruitment job.

10.If a company has already exhausted its network of referrals then it is better to rely on an external network which can help in achieving the goal in a different way.

11.The best executive search companies will definitely do the task at hand within a very limited period of time.

12.There are high chances of trading the best performer through these companies as they take into account all the factors and do the research aggressively.

These are the reasons for hiring the best executive search company which can bring the best individuals to your business through their recruiting process.