14 Oct It’s Critical to Choose the Right Executive Search Partner: Your Organization’s Success Depends on It
Recruiting the best individual to fill a vital role in your organization is one of the most important decisions you can make. A mistake during an executive search selection can be disruptive, expensive and time-consuming.
The estimated cost of a bad hire equals about 30 percent of the employee’s potential first-year earnings; this figure, from the U.S. Department of Labor, in an article, What Really Happens When You Hire the Wrong Candidate, reminds us that recruiting the best individual to fill a vital role in your organization is one of the most important decisions you can make. A mistake during an executive search selection can be disruptive, expensive and time-consuming.
A successful executive search means finding and screening the best slate of candidates available. More than evaluating just educational and experiential qualifications, the process for candidate selection should delve deeply into less tangible assets — such as decision-making experience, communication skills, motivations, ability to lead and management style — to determine how a candidate may fit within the culture of the organization.
Thus, finding an executive recruiting company with extensive research experience, broad industry contacts and the ability to handle the search discreetly and professionally is essential.
Why Select an Executive Search Partner?
With a never-ending barrage of résumés shooting through cyberspace and social media daily, finding candidates who seem to have the fundamental qualifications should be easier than ever. On the contrary, sorting through that blizzard of possibilities is becoming even more tedious. Separating fact from fiction while narrowing a list of potential candidates becomes mind-numbing as organizations seek the right fit. Too much essential management time is consumed in the attempt to conduct an external search.
Partnering with an experienced executive recruiting company to develop a slate of viable candidates not only saves valuable management time but reduces the potential for a “snap” decision. Without a complete evaluation of the candidate’s skill set and personal qualities, a poor decision becomes more likely.
Executive Search Process
Understanding the organization’s core objectives is the first step in an executive search process. Capturing the vision and mission of the organization plus short- and long-term objectives helps your executive recruiter understand more fully where the organization wishes to go.
Next, an extensive review of the position requirements is essential. During this process, the executive recruiting partner should develop a complete picture of the individual who would best fulfill the responsibilities. Such qualities as communication style, sense of urgency, decision-making experience, metrics for success and interpersonal skills will complement those tangible qualifications that define a target candidate.
Experienced executive search firms have numerous avenues, networks and ongoing contacts that would not be available during an organization’s self-search process. With extensive experience, top-notch recruiters can discreetly identify qualified individuals who may only be passively looking for a new opportunity to showcase their skills.
Alternately, the search firm company may represent individual clients who are actively searching for the opportunity your position may bring. After extensive research and background checks, a top executive search firm will assemble a slate of qualified candidates who will match your requirements.
What Should You Look for in an Executive Search Company?
A capable executive search firm must be well-grounded in experience and have a keen ability to interpret the needs of the client. Some positive attributes are:
- Highest placement success
- Superior reputation
- Extensive experience and longevity
- Proven business knowledge
- Focused research capability
- Discreet and supportive client representation
- Differentiators, such as unique contacts and on-staff researchers
Dise & Company Executive Recruiting
For more than 25 years, Dise & Company’s experienced professionals have searched, researched and presented the most highly qualified executive candidates to their clients. As skilled management and leadership development executives themselves, Dise & Company works to fully understand your company’s needs while researching candidates who can help drive your organization toward a successful future.
For a detailed description of the executive recruiting process, review the Dise & Company whitepaper “How a Great Executive Search Partner Can Help Your Organization Thrive.”