SucceedSmart Launches Executive Recruitment Process Outsourcing Solution
December 14, 2023 – Los Altos, CA-based AI-driven executive search platform SucceedSmart has released an executive recruitment process outsourcing (eRPO) solution, designed to address the challenges of recruiting executives. Traditional RPO providers and staffing companies can now leverage SucceedSmart’s eRPO solution to fill director, vice president, and other senior-level roles given to them as a part of broader RPO deals. “RPOs and staffing companies focus on mass market and high-volume recruiting and lack experience in managing the complexities of executive search,” said Sanjay Sathé, founder and CEO of SucceedSmart. “By partnering with SucceedSmart, traditional RPOs can focus on what they’re best at while benefiting from our deep expertise in executive recruitment.”
SucceedSmart notes that in today’s competitive hiring landscape, executive positions are becoming increasingly difficult to fill. The average time to fill an executive role is now over four months, and turnover rates are on the rise. At the same time, data from the U.S. Bureau of Labor Statistics projects that overall employment of top executives will grow three percent from 2022 to 2032, with an estimated 311,600 openings for top executives each year.
“Corporations often include executive search as part of broader agreements with RPO providers out of convenience and cost-effectiveness,” SucceedSmart said. “However, RPOs and staffing companies are not fundamentally structured to successfully navigate executive recruitment, leading to difficulties with filling director, vice president, and other senior-level roles.”
SucceedSmart’s platform is specifically designed with executive recruitment in mind. A blend of proprietary, patent-pending AI, human expertise, and a user-friendly SaaS model deliver candidates for executive teams. The platform is also modular, configurable, and can be white-labeled to align with specific business needs and requirements.
“Most recruiters, traditional RPO providers, and staffing companies evaluate candidates based on skills,” said Sathé. “However, past accomplishments are a critical indicator to predict future success and performance for executive candidates while minimizing bias.”
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Additional benefits of partnering with SucceedSmart for eRPO include:
- Faster hiring time, down from four to six months to four to six weeks.
- More inclusive, unbiased job descriptions crafted by SucceedSmart’s generative AI platform, Taylor.
- Access to qualified, interested, and available candidates based on specific, accomplishment-based job descriptions.
- An AI-powered matching platform modeled after the dating industry approach to help improve the candidate and recruiter experience.
- Confidential candidate profiles until candidates indicate they are interested in outreach by the company.
- Increased diversity and inclusion and reduced bias by delivering candidates in a single-blind approach.
Last year, SucceedSmart launched the general availability of its executive search platform, providing executives with a “candidate-first” approach, said the company. “Founded by serial entrepreneur and RiseSmart founder Sanjay Sathe, SucceedSmart is poised to change the way executives maneuver to the forefront of their respective fields,” said the firm. “Similar to the way Robinhood democratized investing, SucceedSmart delivers a modern, digital approach to executive search while also prioritizing diversity in leadership. Executives no longer need to look for career progression paths since SucceedSmart brings exciting opportunities to executives directly from the hiring managers at Fortune 500 corporations and fast-paced start-ups.”
The traditional executive search market, which has dominated executive hiring for decades, is “extremely transactional, exclusionary, and clubby by nature,” said Mr. Sathe. “Not only is the pricing exorbitant, but in most cases, corporations pay the majority of the fees upfront, regardless of whether the traditional executive search firm even places a candidate,” he said.
SucceedSmart raised $6 million in seed funding led by Storm Ventures, several global business leaders, and established angel investors. Former executives from Korn Ferry, Egon Zehnder, LinkedIn Recruiter, and Hg Capital, among others, have joined the company’s advisory board. SucceedSmart said it has benefited from strong early traction, securing, and delivering on leadership searches from Fortune 500 corporations and venture-backed start-ups.
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Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Executive Editor; Lily Fauver, Senior Editor – Hunt Scanlon Media
