Executive search firms exist to provide a very specific purpose within the broad range of service providers in the talent acquisition market. This paper will attempt to shed some light on the dynamics of using a search firm, when and why you would need to use one, the distinction between large and smaller firms, and the advantages of each.
Why should you use an Executive Search Firm?
An organization’s culture, effectiveness and success are almost entirely dependent upon its people. Having high quality competent leadership is essential to drive a business to successfully meet or exceed its objectives. The best way to recruit the highest performing people in any given market is by using an executive search firm aligned to your business culture and geographical region.
And yet, you probably do not want to retain a search firm if you can possibly avoid it. The best way to build and grow an effective organization is by promoting from within existing ranks.
If you have promotable talent within your organization, it is far better to offer the opportunity to someone currently with your company. The benefits are evident. It will save you time. You already know what kind of person you’re hiring, you don’t have to worry about their impact within the organization, and perhaps one of the strongest benefits is that you send a morale-enhancing message throughout your organization that can further drive internal development and motivation.
In any case, if you aren’t fortunate enough to have someone ready to step into the needed role, then perhaps you should consider using a search firm.
If you aren’t familiar with the role of an executive search firm or how one works, perhaps you may give pause to think about conducting a talent search on your own… With such tools as LinkedIn readily available to the entire world, a rational person may ask – why not do it yourself or task Human Resources to do so?
Doing it ourselves would be so much less expensive, or would it…?
It’s easy to find candidates that are interested in an open position. Post a vacant position in the career section of your company website, or in a major Internet job board, or even on LinkedIn and you will quickly see that finding interested candidates is not hard at all.
However, finding the BEST person for your specific needs is not that simple.