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When Boutique Is Better

Selecting a new C-Suite or Senior financial leader for your organization can be a challenging endeavor, particularly in today's candidate-driven market. The consequences of making a hiring mistake are not only time-consuming, but also very expensive. If you're contemplating outsourcing the search, the decision between a large search firm and a boutique firm is crucial.

While a large firm may initially seem attractive due to brand recognition and an impressive client roster, opting for a smaller firm can offer several advantages:

Communication and Personal Touch: Boutique firms maintain direct communication with clients throughout the entire search process, from the initial meeting to post-hire follow-ups. This hands-on approach allows for a better understanding of your organizational culture and enables the team to guide potential candidates effectively. In contrast, larger firms may delegate tasks to associates who lack direct client contact.

Time: Smaller firms can dedicate more time to your search, ensuring it is prioritized and not lost in a bureaucratic shuffle. This focused attention enhances the likelihood of finding the right candidate promptly.

Specialization: Smaller firms often specialize in specific industries or functionalities, possessing extensive networks within their expertise. This specialization can enhance the quality of the search and ultimately benefit your organization.

Agility: Boutique firms are known to be nimble, adapting the search process to meet your specific requirements. This flexibility allows for adjustments as needed during the search, accommodating unforeseen challenges or changes in criteria.

Hands-off Policies: Executive search firms adhere to moral and contractual obligations not to recruit from active clients. Larger firms, with extensive client lists, may have limitations on candidate recruitment. In contrast, smaller firms, with fewer active clients, can provide a larger pool of potential candidates for consideration.

Fill Rate: Smaller firms tend to be more committed to completing every single search, regardless of difficulty, resulting in a higher fill rate. Larger firms, due to their resources, may choose to leave some searches unfilled, and can be less invested in a positive outcome.

In summary, despite the perceived allure of large search firms, the specialized focus, personalized communication, time dedication, agility, hands-off policies, and higher fill rates make boutique firms a smart choice when hiring senior leaders in a competitive market.

If you are ready to hire or need help with your C-Suite talent acquisition or strategy, we’d love to talk!Email Paul, Brent, Troy, or Tara, or give us a call at 519-673-3463 or 416-847-0036.

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