|
|
Why Use
Executive Recruiters?
Use the
Experts, Get The Best
Good management is essential to the health and welfare of all
companies; excellent management is the key to success in
today's highly competitive business environment. The services
of outside professionals are utilized by prudent companies for
high-level legal, accounting and other special needs.
Executive recruiters should be viewed in the same light: as
skilled specialists who can identify the best executive to
fill an important position on the management team.
Although executive search can be performed by in-house human
resource departments, employing the services of an executive
search firm is ultimately more expedient, efficient and
effective. Executive recruiters provide strict
confidentiality, an extensive network of contacts, objectivity
in candidate evaluation, and negotiation experience and
expertise.
Executive recruiters observe strict confidentiality.
Organizations with an opening in their executive ranks are
vulnerable. Whether for an existing position to be filled, or
a position newly created by downsizing or market opportunity,
the hiring process must be strictly confidential.
Confidentiality can keep competitors from being tipped off to
management shake-ups, new product and market initiatives, and
can protect against employee, stockholder, and supplier
apprehension. Search consultants value the highly sensitive
information they become privy to during the search process.
They are acutely aware and respectful of their client's
vulnerability.
Executive recruiters can tap into a global network of
contacts. Top notch executive talent is a scarce commodity
today. The limited contacts of in-house human resource
departments can't compare with the wide net cast by a
recruiter's network. (A transnational search especially calls
for the capabilities of transnational search firms.) The best
candidates are already employed; many will deal only with a
recruiter. They appreciate the worth of third party
representation, confidentiality and professional mediation.
Recruiting superior candidates is intricate and best performed
by a discreet professional.
Executive recruiters bring objectivity and feedback to
management. Executive search is a time-consuming,
sensitive process. Recruiters can help clients evaluate their
expectations, review relevant organization structure and
reporting, and define a realistic profile and compensation
package for the open position. Search consultants provide
objective feedback on the candidates and advice to the client.
As experts in research and reference checking, search firms
can glean significant information from even reluctant
reference-givers.
Executive recruiters are cost effective. The benefit of
using an executive search firm can be weighed against the cost
of preparing and executing an advertisement/recruitment
campaign, screening and qualifying candidates, operating
without a needed employee for an extended length of time,
compared to the relative insurance of getting the right person
for the job. The use of executive recruiters is an investment
in improving the quality of managerial might. But even beyond
that, the risk to not use executive recruiters is too great.
For smaller companies - in which one hiring mistake can have
disastrous results - using executive recruiters is sometimes
more important than for corporate giants. Hiring an
incompetent employee who makes bad decisions can cost a
company large sums of money - or its very existence. More than
ever before, executive talent is at a premium and can make or
break the fortunes of a business. Professional executive
recruiters can deliver the best.
How Does a Firm Perform a Search?
Once an executive search firm has been selected, the
multi-step process of professional executive recruiting
begins. Each step is managed by the search firm in partnership
with the client team; successful results require diligence
during each phase of the process. The key stages of executive
search are:
- evaluation
of the employment need
- research
- candidate
screening and reference checking
- candidate
"short list" identification
- interviews
- negotiations
- hiring
The search begins
with extensive evaluation of the client need. The search firm
works closely with the client to arrive at a thorough
understanding of the company, its culture and organization,
and the specifications of the position to be filled. Job
specifications include title, department definition, reporting
structure, and details of compensation.
Once prepared, a draft of the position description is
submitted in writing to the client team for approval. It is
imperative that the job description reflect a clear
understanding and agreement between the client and search
consultant before proceeding.
When the job description is finalized, the intensive research
phase of the search commences. The search firm engages in
extensive industry research and networking; existing sources
are contacted, leads are vigorously pursued. If the client
wishes, an internal search of the client company can be
performed to identify company employees suitable for possible
promotion.
Based on research well underway, the search firm contacts
prospective candidates by telephone and begins screening
interested and promising candidates. Personal interviews ensue
in parallel with thorough reference checking activities.
Good recruiters regularly report their progress and, at some
agreed-upon point, present a strong candidate pool to the
client. Recruiters sometimes recommend the best candidate(s),
though the client and recruiter often arrive at an initial
selection of the most promising candidates. Client interviews
are arranged with the best two or three prospects. The search
firm prepares the client to meet the candidates and may or may
not attend the interviews.
After the successful candidate has agreed to accept the
position - and when candidate and client have agreed to
acceptable terms - the dynamic aspect of the search effort is
complete. Most search firms "guarantee" their
executive candidates for 60 days (contingency firms) to a year
or more (retainer firms). The firm will replace such an
executive should he or she leave the client company for any
reason. Often these replacement searches are free or at a
greatly reduced price. Though a sensitive topic, clients need
to have a clear understanding of the search firm's replacement
policy, and all fees associated with such searches. The search
firm stays in touch after the new hire comes on board to help
smooth the transition and assure client satisfaction.
|
|
