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What Is an Executive Search Firm and Why Should You Hire One?

Finding qualified, top-performing executives can be a long process. It is also one that is vital to the success of your business. Executive search firms are used by many organizations to help fill a role on their staff. Sometimes known as recruiters, executive search firms can be retained by a corporation to fill a much-needed role or one that is proving difficult to find candidates for.

What is an Executive Search Firm?

An executive search firm is independent of the corporations they work with. They are recruiting and staffing experts, brought in by a corporation to meet a specific need. Organizations often look to executive search firms when the job they are hiring for needs filled urgently, requires a hard-to-find level of experience, or discretion is needed. An executive search firm gives clients more choices for candidates during their search.

7 Reasons Why You Should Hire an Executive Search Firm

  • 1. You Need a Niche Candidate

    Many of the consultants at executive search firms are experts in the industry or industries they are working within. This means they know industry-specific skills to look for when you are seeking a niche candidate. Sometimes you need a candidate with a unique skill set.

    Executive search firms know where to find that candidate and how to make your company appeal to them. If this is the situation you are in, look for an executive search firm with a proven track record of finding talent and bringing it on board for the hiring process.

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    2. They Have an Effective Search Process

    One of the most beneficial reasons for hiring an executive search firm is that they have a network of potential candidates for your organization to tap into. Great executive search firms have created a wide network of top-level talent in numerous industries. The search firm is known and respected by this top talent as well. Working with an executive search firm means you have access to this talent, and you may be able to find exactly who you are looking for this way.

  • 3. It Saves You Time and Resources

    Time is a valuable resource, and it takes a lot of time to recruit and hire the right candidates for a position. Saving an organization time is one of the many benefits of hiring an executive recruiter. They can sift through applications and resumes and bring the talent to you.

    Executive search firms take away the burden of the hiring process from the company. This allows your organization to continue working toward its goals and growth, knowing that a professional team is working behind the scenes to bring you the best people for the job.

  • 4. It Saves You Money on Turnover Costs

    Turnover costs your business time and money. This is one of the benefits of an executive search vs. an internal recruiting focus. A corporate recruiter considers a job to be well done when they get someone hired at an organization. An executive search firm goes beyond just getting hired.

    Long-term employment is the goal for executive search firms. They want to make sure a candidate has the required skills to fill the position as well as the ability to contribute to your company for a long time. Candidates often have the necessary skills on paper, and an executive search firm can help sort through candidates and present the ones that are likely to stay long-term and contribute to the organization’s future growth.

  • 5. You Are Seeking a More Diverse Talent Pool

    If you are struggling to fill an important role at your company an executive search firm can help you find the needed talent. They can also help with every step of the hiring process, a huge benefit for niche positions that HR may struggle to understand the ins and outs of. Search firms understand the rare mix of skills needed to fill some roles and they can easily identify the right fit for your organization. They know what they are looking for when they are seeking talented professionals for an open role and can look both internally and externally to help you identify the best people for the position.

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    6. You Have Tapped Out Your Talent Pool

    If you have been looking for the right candidate for a while, it’s possible you have tapped out your pool of potential candidates. Executive search firms have a wide array of people they work and network with. Their networks are larger and more diverse than a single organization’s will be. This gives them access to more people with the potential skills and qualifications that you are looking for.

    Executive search firms are also likely to have some expert knowledge in the fields they are hiring for. This market knowledge is a benefit for you in the hiring process as well. They can have a sense of the direction the industry is moving and help find talent to take your business in that direction.

  • 7. You Are Looking for Someone to Fill a Position Quickly

    Working with an executive search firm can also help you hire more quickly because of their experience with the hiring process and access to candidates for a variety of positions. They are likely to understand the benefits and pay structure of the people they are recruiting, allowing them to begin negotiations in a good spot. This helps seal the deal and bring new hires on board more quickly. This can save your organization time and money looking for and negotiating with the right candidate.

Hiring an executive search firm is a big step for your organization, and it is one that can have big results. While it may cost you some money to hire someone, the benefits of using an executive search firm can outweigh that cost. Overall, an executive search firm can save you time, money, and resources, while also delivering high-quality candidates that are more likely to contribute to the long-term success of your business.

Spencer Reed Group CEO Bill Solon

For more information on hiring an executive search firm to help with your hiring needs, reach out to Bill Solon directly at Spencer Reed Group at 913-327-2802.