Executive or C level appointments can mean the difference between success and disaster. Executives at that level can make or break a company. A bad hire to a crucial role can have adverse consequences. A ‘Executive Search Firm’ can mitigate this risk.
The primary reasons why a company engage an ‘executive search firm’ are:
1. Top performers are typically passive and are challenging to recruit. Executive Search Firms utilize industry best practices, innovative technologies and expansive networks to contact the most coveted professionals’ in the marketplace.
2. Confidentiality: An executive search firm can conduct a confidential search and attract high-quality candidates without compromising the company’s reputation and at the same time protects the top management against close competitors.
3. Executive Search Firm work with companies and get to know the organization, its culture, the skill set and responsibilities of the position before initiating the search process.
4. Specialized expertise: Executive search firms use a rigorous process and specialized industry & functional knowledge and experience in identifying and recruiting top-level executives. This can be invaluable to companies that lack the same level of expertise and resources.
5. Cost Efficiency: Conducting in-house advertising, recruiting campaigns and in-depth candidate screenings & hiring process, often costs much higher than the cost of aligning with an Executive Search Firm. And also avoid the negative impact of bad hire..
6. Executive Search Firm does impartial screening of all candidates and help companies trade up to top performers.
Comment whether it’s right to engage an executive search firm by companies?