Establishing a world class leadership team is one of the most important and difficult tasks an organisation will ever face. It can be an exhausting and time-consuming process and with so much riding on making the right choices – the pressure is on.
There is a significant talent drought and with business requirements being more complex than ever before,organisations must ensure they achieve right-first-time outcomes. These factors mean it’s often far more successful, reduces risk, more cost-effective, quicker and easier when investing in an Executive search firm.
Executive search firms may well recruit a range of roles across middle, senior, board level and a range of C Suite roles including; Chief Executive Officer (CEO), Chief Operating Officer (COO), Chief Financial Officer (CFO), Chief Technology Officer (CTO), Chief Marketing Officer (CMO) and Chief Commercial Officer (CCO).
There are three main strategies you can use: internal promotion, using an in-house talent team, or working with an executive search firm.
Naturally internal promotion can have significant advantages but by recruiting internally you may also lose out on the insights and fresh energy an outside perspective may bring. An Executive search firm will consider and assess any internal candidates againstexternal candidates in order that theorganisation can make the most appropriate resourcing decision.
Depending on size, companies may utilise their internal talent team but in general, they tend to focus on high volume resourcing activities. An Executive search firm on the other hand will conduct roles which are bespoke, niche, highly critical and sometimes sensitive and where high calibre candidates are difficult to find.
An Executive Search firm will be able to guide you with the following; how to attract the highest calibre of talent,how you are perceived in the marketplace, how to access both passive and active candidates and will provide market intelligence/competitor information.
Why do some search firms have an ability to attract and retain the very best talent and others fail? Unfortunately, the search industry has no barriers to entry but a professional search firm will give you honest and impartial advice as to how your resourcing requirements can be resolved in the most efficient manner. They will challenge your thinking and will help to address matters such as your current and future strategy, current capabilities within your executive leadership team and critical business issues will be addressed etc.
Often the best way to find the next leader is to utilise the services of an Executive search firm.Activities are conducted by consultants with specialist knowledge bringing improved results and allowing the business to run their organisation,whilst allowing the Executive search firmto do what they do best. Let’s face it, we are talking here about an organisation’s most critical asset – it’s people. Executive search firms do this for a living, they are experts in their field.
If you want to ensure the most successful outcomewith an Executive search firm you must;
- Invest the appropriate time at the beginning of the process. It is vital to take time to draw up clear parameters of the search, to define your requirements and what you are looking to address. This is where Executive Search firms can add significant value.
- Ensure you understand the full end to end process that will be conducted on your behalf.
- Discuss how the Executive search firm can add value – a leading search firm will be able to explainthis in more detail.
- Remember, Executive resourcing doesn’t have to be difficult. Get in touch today to find out how we can help you create an effective Executive Search strategy to find the leaders your business needs both now and in the future.