“We get sent hundreds of CVs, why would we need an executive search firm?”

This is a statement we hear too often in the world of executive search. According to Glassdoor, on average, each corporate job opening attracts 250+ résumés. Of these candidates, four to six will be called for an interview and only one will be offered a job. Placing an unsuccessful leader can have disastrous consequences on your organisation.

So, what is executive search, and how can it support you?

There is an art to finding the very best qualified, top-performing executives. This is what an executive search firm specialises in. Differing from contingency or ‘typical’ recruitment, executive search firms usually operate on a retained basis. Being retained ensures that your talent partner will relentlessly assess talent and thoroughly understand your company’s culture and all facets of the role.

With the average corporate job role receiving 250+ applications, how can the good be selected from the bad? And; what happens to those passive candidates that are already placed elsewhere and not actively applying to positions? This is where executive search consultants are best placed to step in.Some of the benefits of partnering with an executive search firm include:

1. Search expertise.

Sure, your job advertisement has received 250 applications. However, do you really think the top, most specialised candidates in the market are searching on job boards? These candidates are usually employed elsewhere and are busy professionals. Internal HR teams will find it difficult to get in contact with these candidates. However, top executive search firms utilise a rigorous hiring process that ensures even passive candidates are visible within the market – no potential goes unnoticed.

2.  Specialisation.

When selecting an executive search firm for your assignment, it is wise to choose a firm or consultant with relevant experience in your field of operation. Doing so ensures the high likelihood that your partner has previously worked on a similar mandate previously. Your consultant will know where to look, how to approach such individuals, understand the level of appeal required to attract the candidate etc.

3. Diversity, Equity, and Inclusion hiring commitment.

Working with an executive search firm can be highly beneficial for firms with an emphasis on prioritising their DEI efforts. Using an executive search firm allows your organisation to remain free from bias. By understanding your organisation’s needs, executive search consultants will objectively review candidates based on the criteria set out in the position description.

4. Time and cost-effectiveness.

Executive recruiters allow you to step away from the hiring process until key candidates are identified. Time is an extremely valuable asset, so it’s best to make use of this resource wisely. In addition, you will save on the uncertainty of contingency recruitment and the campaign costs which run alongside this.

5. Confidentiality and discretion.

Hiring a replacement for an existing member of your team can get messy. Partnering with an executive search firm ensures that the process is conducted confidentially, eliminating any potential issues.

6. Brand Representation.

A positive corporate image is vital for effective hiring. Without such, it can be difficult to engage top candidates. In fact, 69% of job seekers would not take a job with a company that has a bad reputation! Executive search partners will work with you to effectively develop your Employee Value Proposition (EVP) to appeal to your target audience.

Executive search partners are dedicated to your search.

Working on a retained basis ensures that they are available to the needs of your organisation as and when they arise. You can be as involved as you would like – but if you do not have the capability to review candidates prior to the final stage, that works too.

In Australia, you can be guaranteed that the very person you hope to recruit for a position is already being lured elsewhere. If you require a specific c-suite, leadership, or significantly niche position to be filled, engaging an executive search firm is likely the most effective option.

At North Search, we are here for the hard stuff. When other contingent search methods fail, we step in. If you are still undecided about whether or not executive search is the right option for you – let us know. We only work with clients who we believe will benefit from our service.

Find out more here or, leave your contact information with us and we will be in touch to discuss your options.