Finding the right talent for executive leadership roles for your organisation can be challenging. Understanding the talent that’s available, who may be interested and how they should be approached takes skill, time, and a deep understanding of the executive level market.
For this reason, many companies will choose to partner with executive search firms to identify and recruit the most qualified candidates.
What are the steps involved, and what are the best practices and key terminologies involved with the executive search process?
Step 1: Understanding the Executive Search Industry
The executive search industry consists of specialised firms that help organisations find executives for senior-level positions. These firms have extensive networks, industry knowledge, and expertise in identifying and attracting high-calibre talent. The first step for any organisation looking to use an executive search recruitment agency is to familiarise yourself with the top executive search firms specialising in your industry or sector.
Step 2: Executive Search vs Recruitment: What’s the difference?
Executive search and recruitment are often confused but there are some key differences. While recruitment agencies focus on filling a wide range of positions, executive search firms concentrate on high-level executive roles. Executive search firms use a targeted approach, identifying individuals with specific skill sets, experiences, and qualifications. They employ a comprehensive research process to source and evaluate candidates who are capable of effectively leading an organisation.
Step 3: What is a retained search?
A retained search is often used in the executive search industry. In a retained search, the client company hires an executive search firm exclusively to conduct the search for a specific executive position. The search firm is paid a retainer fee upfront and a success fee upon successfully placing a candidate. This model ensures that the search firm is dedicated to finding the best candidates for the client.
Step 4: Engaging with Executive Recruitment Agencies
Executive recruitment agencies specialise in identifying and placing candidates for executive positions. These agencies have a deep understanding of the executive talent market and possess industry-specific knowledge. Engaging with executive recruitment agencies can streamline the search process by leveraging their expertise and networks.
Executive recruiters make use of their extensive networks and industry knowledge to identify and approach suitable candidates. They assess candidates through interviews, background checks, and reference verifications, ensuring they fully match the client’s requirements.
Step 5: Appointing Executives
Top executive recruiting firms have a proven track record of successfully placing candidates in high-level positions and are likely to prove successful in finding the right candidate for your role. Collaborating with the best executive search firms can enhance the search process by gaining access to their extensive networks and comprehensive resources. These firms often have a thorough understanding of executive leadership requirements and can offer valuable insights and guidance throughout the search process.
At Rowan Group, we have the ability and experience to match both leaders and future leaders to the right assignments and company culture, to ensure they deliver value.
Contact us to find out more about how we help organisations find outstanding candidates for executive roles.