There are a lot of executive search firms in the market to choose from. But how do you make a good decision on which firm to select?
Many recruiting firms offer as qualifications the ability to find “the best candidates” or provide “top-performing executives”. Many firms promote that they possess qualities as “professionalism”, “integrity” and “personalized service”. Virtually every executive looking to decide on a recruiting firm will be met descriptors that sound similar to these.
It goes without saying that every company that performs executive recruitment will strive to deliver excellent candidates and do so professionally.
But these are not particularly useful differentiators you need the services of a search professional.
When you need to choose a professional services firm and are looking to make sound choices, you can become confused by the relative sameness that can exist across the various companies as you perform your due diligence.
When choosing an executive recruiting firm there are risks on the line.
For you personally, making the decision to engage an executive recruiting firm can also carry personal career risk should the engagement not end well.
We acknowledged that there can be significant financial and career risks at stake when deciding which executive search consulting firm to employ (especially for filling crucial senior executive positions.)
In deciding which executive search consulting firm to choose, looking through the lens of these uncertainties will help you zero in on your best-fit choice.
Here are two vital questions to consider:
There can be other questions to consider. But undoubtedly these are always in the buyer’s consciousness and need to be answered when deciding on whom to use on an executive search engagement.
Will using executive search services be money well spent?
Our ideal client typically is a leader of a company in the medical device, digital health, nanotechnology or health technology space. It could be an early-stage startup, a mature mid-sized organization or a large public company.
We are looked to when the leadership of these organizations have a sudden open position in their firm due to an unexpected resignation or when a key executive has had to be let go.
There can also be an opportunity, challenge or goal that has not been reached due to a talent gap prevents its attainment.
Company founders, boards or senior executives of these companies will engage our company when met with formidable obstacles.
Some examples include:
The senior executives for these situations all have pressing business objectives. But often they do not know how to assess who to engage to help them solve their problem.
Your ROI will be measured by the results attained and time to do so. The speed, accuracy and effectiveness can be enhanced considerably by choosing a firm that can drill down with you on the critical factors that will move the company to the next level, the needed skills that will accomplish these and the roadmap to finding these skills rapidly.
Frequently we hear from new clients about their frustration with service firms “talking at them” – not listening to what really concerns them.
When entering into a discussion with a search professional, the focus should be on understanding the dynamics that affect your market and grasping your specific core business issue.
When you can have meaningful dialog about the essence of your business objective, you will have greater certainty assessing whether a search partner that is a fit for you.
Whether voiced directly or not, when a client faces the need to hire, the recruitment professional must understand the underlying business objective driving your hiring need and must understand consequences of not successfully fulfilling that need.
Finding a recruiting professional who not only has the capacity to grasp your precise business need but can also add value to you on its resolution, will be your best assurance of minimizing your risks and making a good decision on firm selection.
Market knowledge can be a critical factor in your decision process when you assess our services as a match for your organization.
Knowing who the market leaders in your market space; knowing the winners, the losers, the various current industry dynamics, provides vital information. This information can have direct bearing on the quality of the executive search engagement’s outcome.
That understanding leads to the tactical steps of crafting an ideal candidate profile and recruitment pathway to completion of the assignment.
Choosing a partner who possesses insights into your market space gives you confidence that your aims attained.
A qualified search executive should give you the certainty and confidence that your objectives are understood along with a clear road map to their accomplishment.
The combination of market familiarity and a solid grasp of your business needs, acts as a solid foundation for effective candidate assessment once the process of recruitment begins.
This market familiarity improves accurate assessment of senior executives and their selection for your organization.
Conversely, choosing a firm without these qualities leads to a project that may not be competently executed, with the potential for many false starts and detours, resulting in increased time and opportunity cost.
When contracting outside services, there is always some element of risk. To make a sound choice, understanding and assessing the risks and rewards is your first step.
An executive recruitment partner who can contribute insight in a first discussion will provide you with confidence to make a solid decision on engaging an executive search consulting firm that will meet your needs.
Senior executives seeking to engage the services of an executive search firm can be aided in that decision by assessing the right factors. Knowing whether the firm you are considering can understand your business issues, has the knowledge of your market will give you a clear concept of the factors that will predict success.
Let’s have a conversation to understand where you are now, where you want to go and the gaps that exist between these two points.
Then we can make some recommendations about how to bridge this gap.
For more information, please call at 1-847-320-1964 or contact us by email to schedule a time to discuss how we may help you.
