Executive search firms have long been used by big businesses, but mid-sized and small firms are starting to realize their value for higher level hires. A company’s success depends on its employees, and a strong management staff can make the difference as to whether a company meets its goals. The importance of finding truly qualified and reputable people for executive level positions can’t be ignored.
It’s also important to conduct an important job search cost-effectively, discreetly, and as quickly as possible. And how many people in your organization can afford to spend full-time hours finding just the right person for one job?
If you feel your hiring practices are not bringing in the best candidates, or if you have never before considered the benefits of using a search firm, here are 10 good reasons to give one a try:
1. Commitment. High level recruiting takes time, dedication, and the use of various resources. If your company pays a search firm to work on your candidate hunt exclusively, the firm’s consultants can focus full-time on your search and employ all of the tools at their disposal: networking, sourcing, advertising, and more.
2. Experience. Search firms build their businesses around relationships. With every job search they perform, they find talent that may never look at advertisements, or that may not be looking for a new job – until they hear about yours! In addition to their outreach efforts and established contacts, consultants at search firms have access to a variety of databases.
3 and 4. Speed and Cost-Effectiveness. Search firms’ proactive search techniques lead to quicker time to placement. When a position is filled more quickly, less money is lost. If the vacancy within your company is critical, leaving it unfilled could cost literally thousands of dollars per day.
5. Discretion. If you want to keep it quiet that a major role in your company is unfilled, or that an individual is going to be let go, a search firm can keep your employee hunt confidential. They can probe the market without revealing your company’s identity, and even reach out to employees at your competitors. They can guide candidates through the early stages of the hiring process without betraying your trust.
6. Extra Value. Search firms can provide additional value-added services, such as candidate screening, background checks, pre-interviews, and assessments to lessen your load.
7. Third Party Status. As third parties to their customers, search firms can ask candidates to reveal information about salary history, reporting or organizational structures, relocation and other potentially sensitive topics.
8. Assessment. After targeting and identifying individuals with the right business requirements, search firms can take the time to evaluate the intangibles: whether their personalities and philosophies are a match for your organization.
9. Competitive Intelligence. Search firms can be an excellent source of market data on topics such as compensation, organizational structure, and talent mapping in particular markets.
10. Partnership. A good search consultant can be an excellent sounding board for clients. They can help drive the selection process by focusing clients on critical hiring decisions. They can also establish a trusting relationship with the candidate and help to sell, mediate, negotiate, resolve issues or questions, and close the deal.
If you are looking to partner with a professional search firm that has your best interests in mind, give us a call! At Morgan Hunter, we provide consistent, proven results on a contingency, contract and retained basis.