Executive Search Agencies are working on finding and securing great talents for their partners’ C-level positions, such as Chief Executive Officers, Chief Financial Officers, Chief Marketing Officers, Chief Human Resources Officers, Chief Technology Officers, Chief Information Officers, Chief Sales Officers Chief Operational Officers, Chief Digitalization Officers. Other then these, they also recruit mid-level and top-level managers, functional managers, people managers, senior experts, great talents and many more.
What can an Executive Search Agency offer that a company can’t do alone? The answer is connected to time and money, as everything else in business life. There are many aspects of the operation of an Executive Search Firm that can provide cost and time effective solutions. Trying to do their work in-house can put a great deal of pressure on the in-house HR and recruitment team. This will affect their efficiency, which in turn can slow down real business growth.
Let’s take a look of 9 different benefits of using an Executive Search Company! This list is not complete, just as every agency, company and position is highly unique in executive search and can’t be fully compared to any previous searches. But JobGroup Prime’s 30 years of experience has enabled us to see some of the frequent and relevant benefits that companies should consider before deciding whether to recruit executives in-house or with the support of an Executive Search Agency.
Here is the list:
Let’s go into details on 9 different benefits of working with an Executive Search Agency! First, we will discuss each benefit’s importance in business life, then we will take a look at how Executive Agencies provide these benefits with resources and expertise.
To search effectively in the labour market for passive and active job seekers, you have to have an extensive network of contacts. Most of the companies operating in their own expertise can’t obtain such number of contacts as this require enormous time and effort. You not only have to build a network but also keep it fresh.
One of the most valuable assets of Executive Search Firms are their contacts. Well-seasoned and experienced Executive Search Firms have been operating for many years and this seniority helps them build a vast number of contacts. Executive Search Firms need this social capital, as this is part of the bases of their work. Agencies sometimes have consultants specialized to industries or fields. These specialized HR professionals have a wide range of contacts in their own area which often includes their industry’s most valuable experts too.
When a company is looking for executives who they can recruit, they have to broaden their search to make sure they can find the most suitable candidates. Sometimes your next leaders are working in other industries which you haven’t thought of scanning. Other than that, executives and leaders are rarely active job seekers, which makes it harder to find them.
Using an Executive Search Firm means that many other candidates become available during the search process. They can reach active and passive job seekers too. They use techniques such as direct search and the delicate methods of digital and analogue headhunting to do so. On top of this, Executive Search Firms have the means to use their extensive network (which we detailed in the previous point) to provide their clients with a bigger pool of candidates.
Companies often don’t have the means to think outside of their own organization. Direct focus is needed to operate a complex business but this also creates a limited view and thinking when it comes to recruiting new people.
Executive Search Firms have a wide scope of view on the labour market and the industry of their clients. Working with an Executive Search Agency can open new possibility and help thinking outside the box. They find people who are truly great matches to the company and they can grow together with the business.
When working on C-level, high importance searches, confidentiality become the main factor. Recruiters have to dance on a fine line, as potential executives need specific information to raise their interest, but companies need confidentiality as their C-level searches are often delicate. This is especially crucial when the search can affect the public reputation and brand image. Managerial positions publicly open for a long time can create negative effect on the business goals of the client.
Executive Search Firms have the professionalism and experience to perform C-level searches with full confidentiality given to their clients. Agencies with many years of experience behind their back can make sure that the integrity of the client is protected. They can prevent any damage threatening the image of the client. Executive Search Firms act as a safety net in front of the client in any negative comment or experience on- and offline regarding the search and selection process. On top of this, using an Executive Search Agency also saves you from giving up competitive advantages in front of your rivals, such as expanding to new areas (which can be concluded from your open positions’ description).
Finding and recruiting new executives are always important decisions. In ill-made selection has many dangers to a business’s life, while choosing wisely can mean long-term success and growth.
One of the main goals of an Executive Search Agency is undoubtedly to support its clients in hiring decisions. The Executive Search Firm’s consultants can map out the market, provide benchmark information of the salaries, roles and skills and even support decision making with their own expertise. They are backing up their client’s hiring managers, HR professionals and managers. Leaning on and referring to the Executive Search Firm help them make good decisions and keep their professional credibility. This is definitely something that the client should tap into.
Executive Search Agencies’ have a throughout knowledge of how top executives and leaders are building their careers. Searching on job portals for open positions is rarely the first method they try. They are usually aiming to find new opportunities through their own professional and personal network or using other discreet ways.
Executive Search Consultants are experienced in contacting leaders and C-level executives. They have delicate ways of finding out if an executive is looking for open positions. They have the methods needed to make contacting smooth. They are experts in persuading leaders, using real and personalized advantages of changing jobs and they secure candidates for the time of the recruitment, until a decision is made. Thanks to their expertise, they part on great terms with every executive they contact. This creates an ever-expanding network of connection they can build upon during their future projects.
Recruitment and hiring are on the more expensive part of running a business. It not only takes money, but also time and human resources to fill positions. This is especially true in executive search as there is a great demand for leaders in the labour market right now.
These are some of the parts of the cost- and time-consuming process:
One of the main reasons of using an Executive Search Agency is that the company wants to be efficient. Executive Search Agencies have the experts, tools, resources and experience needed to support recruitment, so the company itself doesn’t have to spend time and money on obtaining all of these. It is no surprise that companies who are aiming to grow exponentially rely on the support of an Executive Search Agency.
Being quick and effective also creates the foundations of a great hiring process and good candidate experience. When recruiting C-suite leaders, it is essential to focus on a good experience. This not only prevents any damage to the brand but also creates an image of a topnotch company.
When recruiting new employees, having industrial knowledge is essential. This is even more crucial when the candidates are top executives, as they expect skillful experts to contact them and not rookies with whom they can’t have professional, industry-specific conversations. Most often these first conversations are dealbreakers in going forward. Only well-seasoned HR consultants can have industrial knowledge while also being a headhunter expert.
It is not a surprise that according to AESC, one of the main criteria during choosing an Executive Search Company is expertise in industry and market. Companies need HR consultants who understand their specific industry and can provide solutions that is proven to work. On the other hand, there are many small, niche markets, where it is almost impossible to have previous industrial knowledge. When this is the case, Executive Search Agencies has to be able to produce innovative ideas and use their experience in other areas to give solutions. Many industries have similar trends and interlocking operation. Executive Search Agencies can use this fact to provide solutions even in hard, niche markets. For example, the telecommunication sector has already experienced the changes that the finance is going through in Hungary, so consultants can use their telco recruitment experience to provide recruitment insights and financial executives.
The key to a successful business is creating long-term, strategical relationships. Building upon existing contacts and partners are always easier then finding new ones every time.
Executive Search Agencies are aiming to create long-term relationship with you. With many years of working together, they can get familiar with the client’s company, its culture and what they are looking for in new candidates. Giving positions to recruiters who have previous, successful history with the client will give them a peace of mind, knowing that their search is in good hands. In the end, with the successful cooperation, the Executive Search Agency will become an extension of the Client’s HR team. Thanks to the long-term relationship, the Executive Search Firm’s consultants can focus on identifying and retaining C-level talents and candidates on behalf of the client with an ease. Long term relationships are always more effective then adhoc commissions and an Executive Search Firm will always try to create long-term connections.
Of course, you don’t need an Executive Search Agency to operate a successful business. But you need professional support, time, resources and expertise to grow your company’s business
Let’s start by taking a look at what you have to do to successfully recruit new leaders.
And this list doesn’t even include recruitment strategy, employer branding, etc. You can do all this by yourself, by an in-house HR or recruitment team or you can use an Executive Search Agency to help you fill C-level vacancies.
The real benefit of working with Executive Search Agencies is the fact that they can do all of these with ease and expertise. In the mean time you can use your valuable time to build your business in other ways, knowing that recruiting your future leaders is in good hands.
If you came to the conclusion that you can benefit from using an Executive Search Agency then first and foremost you have to consider a few things:
If you have the answers or you would like to talk with us to find the answers together, contact us here!
