Looking for a highly skilled and specialized senior manager for your business but not sure how to go about the recruitment process? keep reading to find all about executive search and its functions.
Finding the perfect fit for a senior-level vacancy is a daunting task. Recruiting management and board-level staff is a time taking and arduous process. However, with the help of highly specialized recruitment services businesses can save both time and money.
What is an executive search?
Executive search agencies help businesses find the best-suited candidates for senior-level positions. These agencies specialize in screening candidates that are leaders in their fields. They take on the task of finding skilled professionals for managerial positions, helping the business grow leaps and bounds.
Executive search is also known as search and selection or headhunting, different names for a proactive approach to recruitment. What sets an executive search apart is its unconventional method of sourcing candidates. This approach makes it easier for the agency to recruit the best high-level talent for various businesses.
Executive search agencies work exclusively with the client, trying to understand their vision and goal. They operate closely with the company and use their skills precisely to evaluate the existing talent in the company. This helps them understand the work culture, requirements, and expectations of the company better.
How does executive search work?
The employer seeks the aid of an executive agency when they require a candidate for a senior or highly-skilled job role. The company usually grants exclusive rights to work on the placement to the agency. This ensures a smooth and hassle-free recruitment process as the agency gears up for the next steps.
The agency then develops a deep understanding of what exactly the employer is looking for. Having understood the company’s requirements in terms of the skill and character of the candidate, the agency identifies and engages with prospective candidates. After going through an intensive process of screening, the agency recommends candidates that fit the bill perfectly.
The agency introduces selected candidates to the company and further partakes in providing downstream services including contract and salary negotiation as well as post office reference checks.
How is an executive agency different from a traditional recruiter?
Unlike any traditional recruitment agency, an executive agency works on a personalized and exclusive basis for the employer. It makes use of its network and internal resources to carry out the job.
The key difference, however, is that while a recruitment agency will look at all active candidates available for the position, an executive agency will use its knowledge of the company’s requirements and look at active as well as passive candidates in order to find the perfect match for both the job and the company.
The executive agency aims at not just finding the suitable candidates for the role but the exact candidate match for the role. An employer should consider approaching an executive agency when wanting to hire someone for a key or high-profile role. Executive agencies are also particularly considered for the recruitment of candidates for particularly niche positions. The agencies also help find candidates that possess hard-to-find skills for the employer.
Why choose an executive search agency?
Executive search agencies specialize in professional recruitments and thus, have the access to a quality network of executive professionals. The agencies operate on a global scale and have contacts across multiple industries which makes their search pool large and exclusive. Not to mention, the amount of time, effort, and money that executive agencies save for the companies.
Executive agencies specialize in senior-level recruitments and are well aware of the required skill set for these highly skilled jobs. They use this knowledge coupled with the employer’s expectations to find the most suitable candidate. Scrutinizing CVs is an everyday task for the agency. Thus, they know what to look for in a strong resume and carefully assess the candidates’ complex skills, soft skills, and personality.
Executive agencies also help fill the knowledge gap and achieve better diversity. As pointed out by a Leaders 2020 study by SAP and Oxford Economics, diversity is a major concern for senior executives and corporate boards. Executive agencies make sure to be inclusive of candidates from diverse backgrounds and are free from prejudices. In addition to this, the agency helps find candidates for newly created or unconventional roles that are outside the company’s expertise.
The agency not only evaluates the candidate on the basis of their skills but also looks at their contribution, experience, and longevity at their previous company to assess their potential. Also, by outsourcing the task of hiring senior managers the companies can succeed in maintaining discretion and transparency.
What specific job roles do executive agencies specialize in?
Executive recruitment agencies are most popular for assisting in the hiring of management and C-suite level roles. They offer a wide range of strategic HR and talent solutions like Recruitment Consultancy, Placement Consultancy, Manpower Consultancy, HR Consultancy, and Job Consultancy. Particularly working with the company, executive firms help with the recruitment of key roles like:
- Managing Director
- Operations Director
- Finance Director
- Area Manager
How are executive agencies paid?
Executive search agencies work mostly on a retained basis. It differs from contingency recruitment in the sense that the recruiter is paid an upfront payment. After the initial payment is made to the agency, the company makes an additional payment once successful recruitment is done.
Thus, the executive agencies work on the idea of performance-based payment, asking the company for additional payment only after it has delivered its promise of helping the company find the most qualified and skilled professional for their job role.
Searching for an executive recruitment agency?
Finding the best recruitment agency is paramount to ensuring the best recruitment for a company’s most important job roles. There are a lot of options available and it is pertinent to find the right agency for the task.
If you are seeking help in identifying top-notch senior managers for your company, then consider Shrofile, which offers a time and cost-effective solution by bringing leaders and leading businesses together in synergy.
With the motivating vision of identifying the best-suited profiles for a unique range of strategic, HR, and recruitment solutions, Shrofile is a Gurugram based recruitment solution that has made its presence felt across the nation and has been recognized as one of the most efficient consultants in Delhi, Gurugram and NCR.
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