17 Feb What Makes A Good Executive Search?
If you’re responsible for onboarding executive talent, you’re likely all too familiar with the unique complexities and challenges it presents.
Thanks to the ongoing War for Talent, competing for top-tier candidates has never been more difficult, expensive, or time-consuming. In this ever-evolving environment, in-house HR departments and general recruitment firms often find themselves lacking the resources, reach, and expertise required to beat out the competition and land world-class executive candidates.
As organizations across industries seek out reliable strategies to gain an edge in talent acquisition, the popularity of partnering with executive search firms has skyrocketed. But with so many firms to choose from, how do you know which one is right for you?
In this post, we’ll explore the ins and outs of executive search, including what makes a good firm, how to know if a firm is reputable, and how to find the right one for your organization’s needs. We’ll also discuss the differences between executive search firms and traditional HR departments and the benefits of using a specialized approach to executive hiring.
What Is Executive Search?
Executive search is a specialized talent acquisition process that empowers executive recruiters to identify, engage, evaluate, and onboard top-level executives in critical roles within a variety of industries.
Executive search specialists leverage access to networks of impactful executives to generate transformative placements that can significantly impact a business’s performance, profitability, and culture. Executive search firms benefit from the rare expertise, hard-earned experience, and refined discretion required to reliably land the best executives in your industry (even if they are already employed!)
These firms also use cutting-edge evaluation tools, data-driven screening strategies, and meticulous selection processes to identify executives who will exceed the rigorous standards set by their clients.
How Do I Know If An Executive Search Firm Is Good?
There are a few key indicators of top-performing executive search firms. Let’s break down a few below so you can make an informed and confident decision when investing in an executive search.
The first box to check with any potential executive search partner should cover their use of strategic, data-backed screening processes. Look for firms that use objective evaluation tools, like a proprietary evaluation matrix, to collect and analyze data from a candidate’s professional background and skill set.
Another sign of a good executive search firm is its expertise in a wide range of industries, in addition to the global executive talent market they operate in. The best executive search firms work across sectors, using their niche skills to generate exceptional outcomes for organizations in every industry.
To hedge your odds of an optimal outcome, you should also partner with firms staffed by executive recruiters with hands-on executive experience. Executive recruitment specialists who have been in their candidates’ shoes can often:
- Access tough-to-crack talent pools.
- Leverage existing professional networks.
- Authentically (and compellingly) connect with candidates excelling in their previous industry or executive role.
Access to a diverse, global talent network is also essential. A diverse pool of candidates can lead to stronger placement retention rates and reaffirm organizations’ efforts to support diversity, equity, and inclusivity at the executive level.
How Do I Find An Executive Search Firm?
Finding the right executive search firm for your organizational needs, vision, and culture is essential for generating an optimal outcome.
Decision makers that have never ventured into executive search may quickly find themselves overwhelmed by their options, so here are three insider tips for finding a reputable, trustworthy executive search firm without the headache and hassle.
- Ask About Their Search Process
The best executive search firms leverage data-driven, strategically crafted search processes to create reliable, replicable success for their clients. Be bold and ask questions about how potential executive search partners identify candidates, screen talent, and support the onboarding process. Short, overly-simplistic, and vague answers should be considered red flags.
- Ask About Their Placement Success Rate
The numbers don’t lie. Placement success rates are essential metrics for executive search firms, so any potential partner you meet with should be well-prepared to share and break down their success.
Delving into a firm’s placement success rate can give you insight into how doggedly they pursue their clients’ ideal candidates.
- Ask Them How They’ll Understand Your Needs
Executive recruitment should never be a cookie-cutter, one-size-fits-all experience. For the best results, you should always partner with executive search firms that use their proven processes to build bespoke executive search strategies fine-tuned to your organization’s unique structure, culture, and vision.
How Medallion Partners Stands Out In Executive Search
Medallion Partners has worked hard for more than 15 years to earn a stand-out reputation among boutique executive search firms.
Our unmatched search process, roster of world-class executive search specialists, and diverse network of exciting and innovative executives across industries empower us to consistently generate top-tier placements our competitors simply can’t match.
Ready to learn more? Reach out to one of our executive search specialists today.