18 Jan How Long Do Executive Searches Take?
If you’re considering partnering with an executive search firm, you probably already understand the painful costs of leaving executive roles unfilled. Naturally, this leads many clients to approach us to discuss how long the executive search process will take.
While this question has no definitive answer due to the bespoke nature of executive search, there are a few guidelines we can share with you to provide a rough timeline of the average executive search.
What Do Executive Search Firms Do?
Executive search firms specialize in acquiring top-tier executive and specialist talent for companies experiencing painful vacancies in critical roles.
Unlike in-house recruiters and traditional recruiting firms, executive search firms create customized strategies for each project, allowing them to deploy their hard-earned access, refined engagement techniques, and skillful negotiation abilities to make perfect placements.
Executive search specialists’ analytical approach, insight into the global executive talent market, and high-value connections place them closer to business consultants than typical recruiters. Executive search firms do more than fill chairs – they serve as an invaluable bridge between high-performing executives and specialists and thriving companies in need of new leadership.
What Is the Executive Hiring Process?
The executive hiring process varies significantly from conventional recruiting.
Instead of leaning on tools like job boards, social media platforms, or internal referrals to generate candidate pools, executive search firms use tried-and-true strategies to create impeccable placements.
For example, let’s briefly break down the four-step executive hiring process that is the engine behind Medallion Partner’s 95%+ placement success rate.
- Analyze and Strategize
Before kicking off the search, Medallion Partners’ executive search specialists will analyze vital facets of your business, like organizational structure, critical needs, work value streams, and more. Then, we’ll use the information gathered by our specialists to create a one-of-a-kind talent acquisition strategy that aligns with your company’s goals perfectly.
- Assemble a Pool of Live Talent
After we’ve created a strategic roadmap for your executive search, we’ll begin searching for promising candidates with the experience, skills, and knowledge you need.
Our executive search teams will begin discreetly approaching candidates that represent an ideal match to gauge their interest and convince them to join the pool of talent under consideration for the role.
Once we’ve gathered our targeted number of candidates, we’ll present a detailed and data-rich report on each of them that highlights their experience, skills, performance background, and personality traits.
- Secure Your Top Choice(s)
After you’ve chosen your new executive team member, we’ll launch our final round of evaluations and reviews to validate crucial details, generate cultural assimilation predictions, and ensure they represent a high-value match for your role. We’ll reach out with your official offer, discuss transitionary success support, and guide them through a low-stress resignation process at their current position.
- Support and Succeed
We believe in providing a comprehensive “corporate wellness” package to each of our executive placements. These services help smooth the transition from one role to another (and often one city, state, or country to another) and provide ongoing personal and professional support. The peace of mind, camaraderie, and assimilation created by our post-placement services empower new executives to enter your office clear-headed and prepared to succeed.
How Long Do Executive Job Searches Take?
Companies that carry out their executive job search independently can expect to spend anywhere from six weeks to six months fielding resumes, arranging interviews, narrowing down candidate rosters, and negotiating offers.
In the meantime, you could lose massive amounts of revenue due to the opportunity cost of the role and the effect that lack of leadership often creates in organizations.
Fortunately, partnering with the right executive search firm can cut the entire executive recruiting process down to 90 days or less. Executive search firms’ massive networks, access to top executives and specialists, and data-driven techniques for evaluating and onboarding candidates allows them to quickly:
- Generate valuable interest in the role.
- Build a roster of qualified candidates.
- Evaluate candidates’ personalities, performance records, and leadership styles.
- Generate a shortlist of exceptional candidates that align with their client’s organizational structure, business needs, and overall goals much faster than general or in-house recruiters.
Medallion Partners Helps Out Clients Place the Perfect Candidates
Medallion Partners specializes in making efficient, impactful, and unforgettable executive placements.
Our network of executives spans industries, skill sets, and company cultures, making it easy to help our clients find the perfect candidate. Contact one of our search specialists today to learn more about the executive search process. We would love to answer your questions.