When you’ve got a senior role that’s vacant, or soon to be vacant, you must figure out how you’re going to fill it. Maybe you think you can do the recruiting yourself, but partnering with an executive search firm may be the wiser and more cost-effective decision in the long run. Here are several reasons why you may want to consider working with a retained search firm for your next senior hire.
1. Focus and Time: Executive recruitment is more difficult and much more time-consuming than most people expect. With retained search services, you have an experienced partner on board to help, to free up both your time and other key internal resources.
2. Help in defining exactly what you need: You may think you want a carbon copy of the person who has vacated the role, but a search firm can help you look at your organization through fresh eyes. Does the role serve its intended purpose? Has there been a change in the structure of the organization since the role was last filled? Will the reporting structure and job description remain the same, or will those need to be updated before hiring?
3. Access to Passive Candidates: There are lots of fantastic candidates who would never think to click on a job ad; they are happy where they are, and they are busy! A good executive search firm can find these potential candidates and have a candid conversation about their goals, potentially sparking interest.
4. Discretion: Perhaps this search needs to be confidential, or the circumstances surrounding the open role are delicate. A good search firm will handle the situation with discretion, while you can stay at arm’s length until the final stages.
5. Functional or industry knowledge: Some search firms specialize in a functional specialty, like senior finance, or a certain industry. If you know you want specific skills or candidates from a specific industry sector, there’s sure to be a search firm that has the knowledge you need.
6. Market insight: Executive Search Firms specialize in knowing what’s happening in the job market and can ensure you benefit from that knowledge.
7. Higher Quality Candidates: A good search firm will work with you to fine-tune the job description and candidate profile, and present only candidates that are a good match. This will save you time and headaches.
8. Negotiation: Do you want a job offer to fall apart at the last minute? Probably not! It’s better to have a partner who knows exactly what a candidate is looking for and can negotiate an offer that is sure to be accepted.
If you’re ready to hire a senior finance or C-Suite leader, or just need help with your talent acquisition strategy, get in touch to arrange a quick chat. Email Paul, Brent, Troy, or Tara, or give us a call at 519-673-3463 or 416-847-0036.