An executive search by an executive
search firm or recruiter works ostensibly for the employer and not
the applicant seeking a job. The executive search firm and its
recruiter specifically fills positions for their clients. For
example, NIKE might hire an Executive Search Firm to fill several key
positions for their company. Many companies turn to executive search
firms or outside recruiters for help in finding the right people to
build successful company teams.
- An executive search firm limits the
number of concurrent searches to insure the clients’ prompt
response, personalized attention, and maximum results.
- The executive search firm uses
ethical standards in developing long-range standards, values and
integrity in association with clients.
- An executive search firm only
accepts assignments that can be confidently and competently
completed.
The key stages
of an Executive job search:
- There is the initial analysis of
the executive job search - the executive search firm begins with an
extensive evaluation of the client needs.
- There is the research stage of the
executive job search – the executive search firm begins with
extensive research and networking. The executive search firm then
engages in contacting existing sources and pursuing leads.
- The executive job search reaches
the candidate screening and references checking stage – the
executive search firm then contacts and screens prospective
candidates via telephone.
- The executive job search then
presents candidates for potential consideration – the executive
search firm presents a strong candidate pool for employer
interviews that are finally confirmed with the best two to three
candidates.
- The executive job search now is at
the interviewing level - the executive search firm prepares client
and candidate meetings. The executive job search firm may or may
not attend these interviews.
- Negotiations are the
penultimate stage for the executive job search - the executive
recruiter from the executive search firm clarifies issues and
matches suitable employees to good jobs.
- Finally the executive job search
results in the hiring process – the recruiter from he executive
search firm typically authorizes offers conveyed on behalf of the
employer will be accepted. This final stage assures the executive
search firm a speedy hiring process.
- During the transition stage of the
executive job search - the executive search firm assures client
satisfaction after the new hire comes on board by staying in touch.
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Is an
Executive search company cost effective?
Running an ad is one of the hidden
costs of looking for professional talent provided by an executive
search company. Employers often acknowledge that the best employees
are never looking through classified ads; they are minding their
business buried in excellence.
What other hidden costs exist that an
executive search company provides.
1) The executive search company
develops and executes advertisement or recruitment campaigns.
2) An executive search company screens and qualifies potential
candidates.
3) The executive search company organizes and schedules multiple
interviews.
4) The executive search company operates without a needed employee
for an extended length of time.
5) The executive search company checks references and verifies
degrees.
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What other value does today's executive search company offer?
1) The executive search company
reduces the screening of unqualified candidates.
2) An executive search company eliminates those candidates
uninterested in making the change.
3) The executive search company avoids the counteroffer leverage
motivation at the expense of your company.
4) Today's executive search company’s recruiter is skilled at
selecting compatible candidates, motivated for the right reasons to
look for job opportunities.
5) The executive search company’s successful recruiter reduces
barriers and correctly infers information behind the scenes.
6) Executive talent is at a premium. The executive search company
through strict confidentiality, maintains company integrity which is
capable of making or breaking the fortunes of any size company.
7) A recruiter of the executive search company can tap into a global
network of contacts.
8) The executive search company recruiter is capable of maintaining
and delivering objective feedback to management.
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What is
the role of an Executive search consultant?
Specialized sales, marketing and
technical talent is in demand, so the number of job positions are
being filled with the aid of executive search consultants. Your
decision to retain an executive search consultant to help fill a key
position requires an understanding of the executive search
consultant's role.
The profession of executive search
consultant has earned an important role in today's society. Dynamic
executives with specialized skills and the capacity to take on more
responsibility are in short supply. Through the executive search
consultant these individuals are now promoting their talents that was
seldom done during employment.
An obvious benefit the executive
search consultant offers is the ability to identify and contact
executives discretely. Previously this open position could not be
pursued, because these executives could risk their current job
replying to published advertisements or responding to a competitor's
employment proposition, now this is done by the executive search
company. Naturally, confidentiality is a vital element of the
executive search consultant's role.
- The executive search consultant has
an industry-wide perspective as well as an outsider's objectivity.
- The executive search consultant
works with the employer to develop the job description.
- The executive search consultant
does research, explores the vacancy, questions the validity of
redesigning the position.
- The executive search consultant
evaluates a number of elements required to satisfy the Company
needs. The executive search consultant evaluates the “ideal
candidate” in order to satisfy the organization “chemistry” for the
new executive hire.
- The executive search consultant
will evaluate How will this new person be evaluated and
compensated?
- The executive search consultant
interviews principle employees as well as the prospective
candidate.
- The executive search consultant is
prepared to administer and interpret such evaluations.
- Then, armed with knowledge of the
position, your firm and the industry, the executive search
consultant can begin researching for prospective candidates.
- The executive search consultant’s
research can take weeks relying on a network of contracts and a
library of industry resources.
- The candidate research completed by
the executive search consultant is the groundwork for the
recruiting that follows.
- The executive search consultant
then calls potential candidates, interviews promising candidates
and the executive search consultant is left with a "short list" of
recommended executives for the prospective employer.
- The cost of the executive search
consultant’s services can really pay off because the executive
search consultant is now the buffer between employer and
prospective employee regarding the discussions about compensation,
benefits and responsibilities.
- The executive search consultant is
the guide for both sides toward a final agreement and will even
follow up any problems arising out of the new relationship.
- Most executive search consultants
charge a percentage of the position's annual pay, although fees
vary. It is not unusual that one-third of the executive search
consultant’s fee is due at the start of the search, one-third at
some point in the process, and the last third of the executive
search consultant fee when the job is filled.
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