How Executive Search Firms Avoid Executive Hire Mistakes

To grow your business, you need to find best talents to manage your company. Like many other fields, executive talents require unique experiences that are specific to the industry. When you have an executive position you need to fill, an executive search firm will help you find the ideal person to fill it.

Extensive knowledge and resources

Recruiters maintain large databases of people who they are trying to place in high-level jobs. This is a source you wouldn't have access to when going about the hiring process in the usual manner. They are also adept at cold calling and getting passive candidates more interested in the position your company has to offer.

Confidentiality

This is particularly important when your company is recruiting specific candidates from another organization. Not only could you face legal troubles for approaching the employee of a competitor, it could damage your company's reputation as well. Executive search firms also bring objectivity to the table. Your contact can tell you what a competitive industry salary is and handle the negotiation process for you with your list of qualified candidates.

High return on investment

When you're debating on whether to hire an executive search firm, consider how much it costs your organization to find top talent independently. You need to factor in advertising, the real costs of leaving the position unfilled, and the time it takes away from other tasks just for starters. Outsourcing all of this to an executive search agency can save you significantly more money than you spend securing the services of a search firm.

Marketplace expertise and knowledge

To receive the greatest benefit from a search firm, it is essential to select one that specializes in placing people in your company's industry. The organization you hire should know appropriate industry lingo as well as what it takes to succeed at a company like yours. Many recruiting agencies, like Talent Spot, hire from within the industries they serve. This allows for immediate knowledge of the industry and also a solid book of connections to network for new opportunities.

Narrowing the list of candidates to interview

No one has the time to sift through hundreds of resumes to select a handful of people to interview. Search firm representatives use their years of experience in the industry to zero in on specific skills needed for the open position. By narrowing the list of candidates to a select three to five who meet the criteria set by the hiring manager, the recruiters can save you days and weeks of your time just in the initial selection process.

Skilled Negotiator

Salary can be a thorny issue that can cause long-term hard feelings if the negotiation process is not handled respectfully. Since your recruiter doesn't earn commission until after the position is filled, he or she will work especially hard in this area. By using a recruiter as a buffer, the candidate you eventually hire doesn't have to know about specific objections you raised in the negotiation process.

Filling a high-level position requires an extensive use of time and resources for any company, so do your homework on finding a executive search firm you can comfortably work with, and you will see the benefit for your next executive hire.