Why Organizations Use Executive Search Firms
April 13, 2021 – For many organizations, finding quality talent can be tough—and finding quality executive talent can be even tougher. While you may have confidence that your company can recruit your next C-suite leader without help from a dedicated search firm, the potential ramifications behind making a poor hire can be disastrous, according to a recent report by TalentRise. “That’s why engaging with an executive search partner presents the optimal solution to sourcing and hiring the right-fit candidate,” he said.
Peter Petrella of TalentRise offers some of the most compelling reasons why your company should engage with a reputable executive search firm. And cost savings is top on his list. Rather than spending money posting your leadership vacancy on job boards or advertisements, why not have your executive search partner execute everything on your behalf? “While sites like LinkedIn are useful when looking to fill entry-level and mid-tier job openings, many executive search firms maintain largescale networks comprised entirely of C-suite candidates that can be leveraged during times of need,” said Mr. Petrella.
“By tapping into these communities of qualified professionals, you’ll boost your odds of finding the right leader for your executive opening,” he said. “Without having to reach out to candidates and sell them on the open opportunity, your organization will spend more time accomplishing its day-to-day objectives—thereby resulting in significant cost savings.”
Time Savings
In today’s business world, the majority of internal HR departments have become stretched too thin, according to Mr. Petrella. “They simply can’t afford to take on more responsibilities—much less conduct a comprehensive leadership search,” he said. “By partnering with an executive search firm, your organization will alleviate these burdensome recruitment duties from the shoulders of your HR team, allowing them to focus their attention on other pressing business concerns.”
Mr. Petrella noted that while active job candidates may be qualified for your executive position, they ultimately could be lacking the skills or qualifications that your organization needs most in its next leadership fill. “But when engaging with a dedicated search firm, this partnership will expose your organization to an entirely new segment of the candidate market: passive candidates,” he said. “These individuals are currently employed but would consider a new job opportunity if it was presented to them. If your executive search firm can get in front of these passive candidates and sell them on the role, you may be well on your way to finding your newest executive hire.”
Start-to-Finish Support
The recruitment, interview, and contract offer stages can sometimes take up to several weeks—or even months—to complete. “That’s why it’s important to leverage a dedicated search partner that can guide you on the do’s and don’ts during these critical moments in the process,” said Mr. Petrella. “From initial sourcing and screening efforts to the candidate’s eventual onboarding, your chosen executive search firm will offer comprehensive support to ensure that your organization operates properly.”
Experience and Expertise
By aligning your organization with the right executive search firm, Mr. Petrella says that you can use their knowledge of the industry to your advantage. Your search partner will leverage advanced recruitment tools platforms to deepen your understanding of the candidate market. “They’ll enhance your employer brand and better define your company’s differentiators,” he said. “They’ll conduct talent assessments on your down-selected candidates to ensure alignment with the role and your organizational culture. And they’ll guide you when formalizing your competitive compensation offer for your candidate.”
Related: What to Really Consider When Hiring a Search Firm
“Whether your company is looking to add an executive to round out your C-suite or replace a departing leader, leveraging an experienced executive search firm can make a world of difference,” Mr. Petrella said. “Not only will working with a search partner provide access to a wider candidate pool, but it will enable your organization to make a smarter and more informed hiring decision in significantly less time. Ultimately, the choice has never been easier—engaging with an executive search partner is the right move to make.”
Best Practices for Working with Executive Recruiters
Recruiting is a nebulous industry with a lot of common misconceptions, according to report by Derek Gracey and Jacob Watkins of search firm Charles Aris. The recruiters provide a review of best practices they’ve found to be helpful when working with recruiters. Among them: be open, talk early and often, and be familiar with smart phone technology.
“When we tell you about an opportunity, we want your genuine thoughts in response,” said Mr. Gracey. “If it’s a slam dunk, great! If it’s a huge miss, no problem. If a specific opportunity does not align with your career goals, simply tell us. The more open you are about your interests and objectives, the better aligned we can be in future outreach.”
Founded in 2008, TalentRise supports companies in nearly every vertical — retail, manufacturing, technology, financial services, healthcare, life sciences, E-commerce, and more — with custom and comprehensive talent acquisition solutions.
Mr. Petrella serves as managing director at TalentRise with responsibility for developing client relationships and executing search assignments within the FlexSearch delivery model, a highly tailored solution for companies who are looking to add executive and emerging leadership talent. He also leads the team sports division of TalentRise, while bringing over 20 years of business development and marketing experience in a variety of sectors of sports marketing, from teams to client-side organizations. Areas of expertise include sports management, sponsorship sales and service, marketing, and strategy. Additionally, Mr. Petrella serves in a dual role at Aleron Shared Resources and works in conjunction with Viaduct, which helps startups and emerging businesses find talent.
Related: 13 Rules for Getting the Most Out of Your Executive Search Firm
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media
