Companies adopt various approaches to fill open positions across job levels and departments. Posting on job portals or social media platforms like LinkedIn, maintaining internal sourcing teams in HR, employee referrals, and campus recruitment are some of the tried-and-tested approaches available to them. Yet, each of these consumes significant resources and good outcomes are not always guaranteed.
In a fast-paced and competitive business environment, it is important for companies to manage the dual mandate of hiring fast and hiring the best. As anyone who has worked in the corporate world knows, this is not always possible and most often the internal HR teams are unprepared for sudden spurts in demand. This is exactly why a lot of them turn to executive search firms for help, since hiring the right people under demanding timelines is their forte.
There are many advantages with executive search firms, a major one being their market intelligence. Not only do they reach out to potential candidates but also have a database of top-performing candidates in the industry who can be interviewed and on-boarded into the company. Firms possess the skills to breakdown complex jargon in the job description to simple descriptions that makes it easy for candidates to understand and apply for the position. They also have skilful recruiters who can explain the big picture of the positions and the upside for candidates. In turn, it boosts the candidates’ confidence to reach out to the company and seek clarifications.
Executive search firms have the ability to attract even the most passive candidates. Backed by extensive search and research, they use the right marketing and reach-out tools such as job boards, senior executive recommendations, and other business forums to drive attention to open opportunities. This indirectly eliminates the stressful process of sifting through hundreds of applications and helps narrow down the hunting list to the most suitable candidates. In addition, these firms have excellent understanding of the local market, culture and business practices that makes it easy to fill positions on offer.
Given that most executive search firms work with companies over a longer-term, companies can leverage the firms’ commitment to their business objectives. In a way, executive search firms share the responsibility to find not only the right candidate but the perfect candidate who can grow along with the company. Through their many years of training in validating candidates, firms can differentiate between genuine candidates and those that are merely “good on paper”. They can help companies systematically list down strengths and weaknesses of all the candidates under consideration.
Lastly, executive search firms can also help conduct detailed and qualitative reference checks, a search process that is extremely crucial for companies. References can help clarify any concerns around the experience of the candidate, roles managed, his or her work ethic, integrity, workplace behavior, and personality traits among others. This increases the chances of hiring the right person—someone who fits the company’s expectations perfectly and hits the floor running.
Author : Liam Copsey