How Executive Search Companies Can Help Your Business Bridge The Talent Gap
The competition for talent and the right talent amongst business is huge on a global basis. Attracting and retaining key staff is major factor to the success of any growing business. Executive Search is a professional service that takes years to build and expertise knowledge in.
As a service Executive Search and Recruitment business is estimated at approximately 4.26 Billion this year. Companies use executive search firms for various reasons. Usually, a key factor will be the firm’s or the consultant’s knowledge of, and/or access to, a particular sector or candidate population.
Most search firms are organised by practice and function, with experts in particular industries and /or specific functions such as finance or human resources. Other considerations may include the need for absolute discretion, a desire for an external perspective, and time constraints.
A team of professionals, including associates and administrative coordinators, works alongside search consultants. They use a network of resources including original industry and functional research, proprietary databases, company information and online tools to identify the target market. This may include competitor companies, as well as businesses in a range of industries in which individuals with the required skills and experience might exist. Top-quality search firms engage in a great deal of “behind the scenes” research to develop a thorough understanding of the marketplace and the type of candidates likely to fit a particular role.
Executive Recruiting Best Practices
Because they are looking to fill high level positions, executive headhunters need to use all the recruiting industry’s best practices to stay ahead of the competition. Not only do they need to demonstrate a high level of professionalism and drive, they need to use the latest recruiting tactics to get the best candidates for executive positions. Here are some of the best practices for the executive recruiter who wants to get ahead.
Executives at large corporations need to stay on top of the latest technology trends and understand how to use complex business software to get things done; recruiters who work with these high level executives need to do the same. In the competitive world of executive recruiting, you can’t afford to use outdated methods of sourcing and screening candidates. Technology like performance management or customer relationship management software can help recruiters track candidate information and marketing strategies.
Keeping Accurate Records
Keeping complete and detailed records of all clients, positions, applicants and candidates can be invaluable to an executive recruiter. Nothing turns off a client or kills the confidence of a candidate like a recruiter who doesn’t have all relevant information at their fingertips. It is extremely important for high level recruiters to keep thorough records of applicant information, their talent pool, every contact with candidates and clients, as well as marketing and development efforts.
Continually growing their network
A wide network of business contacts that includes prospects, clients and hires is a recruiter’s best asset. Executive recruiters need to tend this network like a garden, strengthening existing relationships with regular communication and constantly staying on the lookout for new relationships. Recruiters should check back with hires after they have been placed and make sure to ask for referrals to grow their network. Growing your network through referrals is also an important practice.
An expert in their Industry
Typically an executive search firm will employ consultants who are experts in a particular area. That way they understand the job, the candidates and will be able to ascertain the company culture quickly. This is a skill that is built up over years. Executive recruiters need to become not just sourcing resources for their clients, but trusted professional leaders to both their candidates and clients.
Communication with the client is vital and so is contact with the candidate. The candidate is 50% as important as the client and without trust, honesty and an open relationship on both sides it is impossible for search project to be successful. Call us to please find out how we can assist you.