Should you hire an executive search firm to conduct your next important executive hire? Here are five mistakes companies commonly make when they don’t:
1. Downplaying the urgency – In this day and age, everything is urgent, right? However, a key vacancy at the senior executive level is especially urgent. Vacancies can slow business performance, growth, and revenues as resources are allocated to fill the gap. Delegating the search to a professional allows you to focus on managing the business. You might also consider an Interim Executive hire to maintain continuity while your executive search is underway.
2. Assuming you have the same information everyone else does – Sure, everyone you need is on LinkedIn. Or are they? Unless your organization is willing to pay for corporate access that allows full view of the LinkedIn database, you are not seeing the complete picture. The information you are seeing is also unqualified, and merely a summary of candidate skills and experience. Executive search firms use LinkedIn as a supplemental tool to their own database which is comprised of pre-qualified candidate information. The data search firms have access to is the result of years of collective work and assessment by skilled professionals.
3. Unqualified sense of your company’s ability to attract top talent – When Yahoo! wants to hire a Google executive, they’ll typically hire a retained executive search firm to make the call. Executive Search professionals are independent third-parties, and those that work at reputable firms always have their calls returned. In addition, they are skilled at selling opportunities to individuals not necessarily looking to leave today and addressing negative bias candidates may have about companies. Does your HR department have this kind of expertise?
4. Mismanaging top talent – Locating highly-sought-after talent is one thing. Managing candidates through the hiring process is another. And it’s just as important. How often have you found the candidate of your dreams only to discover you cannot land them? So many variables can come into play including challenges with compensation, relocation, competing offers, etc. Search firms are skilled at attracting and landing top talent, and in managing their expectations along the way.
5. DIY risk – The focus of your business is not searching for top talent. Given the importance of a key executive hire to your organization, and in light of the four previous mistakes listed above, can you afford the DIY risk when so much is on the line?
Ellis Fox has a reputation for providing a quality service, high level customer care coupled with the ability to source permanent and interim candidates of the highest calibre right across the Utilities, Infrastructure and Construction sectors. Please call today on 020 7183 0255 or book a telephone consultation