When it’s time to fill an available executive position, companies have realized that the job hiring process has come a long way since the days of posting an ad in the classified section of the newspaper. Now, executive search firms are the preferred route of hiring. Executive search firms are companies that find the right executives to hire through consultants that build networks of relationships; as they say, “who you know” is a big part of finding the perfect fit for your job opening, especially for a key leadership role.
Executive Search Procurement
Executive search consultants recruit for a wide variety of job types, such as logistics, supply chain, manufacturing, pharmaceutical, operations managers, IT procurement, and CEO and other c-level executives. Enabled by retainer, container, or contingency compensation arrangements, executive search recruiters follow a proven process to help place executives in available positions.
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Finding and Hiring CEOs
First, they define the job requirements by meeting with the hiring company, identifying core competencies, skills, and knowledge required for success in the position, and creating a strategy for finding qualified candidates. By learning more about the company’s background and their goals for the hiring process, the recruiters can keep their search focused and efficient.
Next, the consultants develop a list of potential hires by researching candidates, marketing the position through consultant-candidate communications, and conducting in-depth interviews with the most qualified candidates. In this stage, consultants cast the net for potential hires, and gradually narrow the list; in addition, by selling the position to the potential hires, the recruiters are able to convey the client’s story and help pique the interest of the most coveted candidates before the most qualified candidates meet the hiring company.
In the final stage, the executive search consultants select the finalist by meeting with the hiring company to compare candidates (through a process known as “scorecarding” sessions) and verify background information and qualifications. This is when the most skilled candidates rise to the top of the pack. Eventually, when an offer is ready to be placed, the firm helps negotiate the employment terms and contract and assists the new hire with transition to the company through on-boarding.
Throughout the hiring search and recruitment process, executive search recruiters are incredibly thorough in their research and vetting of potential candidates. Executive search firms understand their clients’ needs and are trained to help their clients make the right decisions when it comes to hiring their companies’ next leaders. With a structured, disciplined approach, an executive search firm can help a company make a home-run hire that will play a vital role in their long-term success.