When searching for new senior-level candidates and considering using an executive search firm, you may be overwhelmed by the numerous options available. There are large global firms with over 10,000 employees, as well as smaller boutique executive search firms. All of these firms claim to have extensive industry experience, making it difficult to determine the quality of their work until they begin the search.
So, how do you select the right executive search firm from the many options?
There is no single answer to choosing the right executive search firm, but it’s important for the firm to have a solid understanding of your industry and the challenges your company is facing. Every executive search firm, whether big or small, has its own strengths and weaknesses. The ideal firm should have a proven track record of successfully placing candidates in similar positions within your industry. To assess the expertise of the firm, you should consider the following:
- Review their individual track record on relevant projects.
- Assess their understanding of your industry and position through conversation.
- Evaluate their ability to provide practical advice on how to approach potential candidates.
It’s important to keep in mind that the size and reputation of the firm do not guarantee the quality of their work. The success of a search ultimately depends on the experience and skills of the individual recruiters. You can gauge a recruiter’s expertise by asking about their past experiences, their understanding of industry trends and news, and their approach to finding and interviewing candidates.
You can also gauge the reputation of a recruiter or executive search firm by seeking referrals from industry contacts or former colleagues. This can provide valuable insight into the quality of their work and their reputation. If someone you trust has had a positive experience with a recruiter, it’s a good indicator that they may be a good fit for your needs.
A good recruiter should act as a trusted advisor, offering practical advice and guidance to ensure a successful hiring outcome. Having a recruiter who simply agrees with everything you say may make you feel good, but it is important to have a recruiter who you can have a peer-like conversation with. As they are experts in recruitment, they should provide you with concrete and practical advice when necessary.
Regarding the size of executive search firms, keep in mind that larger firms may not be able to approach candidates who work for companies they already have relationships with. To maintain those relationships, they have to avoid recruiting from certain companies. This can limit their reach, where smaller firms might have an advantage. Most highly skilled candidates work for larger corporations, and there’s a good chance that their companies already have a relationship with the executive search firm.
Some may also assume that larger executive search firms have a higher conversion rate from candidates compared to smaller ones, due to their recognizable names. However, this is not necessarily true in today’s world. With platforms like LinkedIn and other professional networks, information is easily accessible online, and the approach to candidates (whether through calls or messages) is largely the same. Candidates don’t pay much attention to the name of the executive search firm, as they are more interested in the job itself. It depends on how the recruiter presents the position, as their communication skills are crucial in attracting candidates. Global executive search firms may have a well-known reputation, but smaller boutique firms may have a strong reputation in a specific area of expertise. They may also have a wider network within that area, allowing them to access a wider pool of potential candidates. When selecting an executive search firm, it’s important to consider the unique needs and requirements of your company.
In conclusion, the quality of the executive search process ultimately depends on the skills and knowledge of individual recruiters. A competent recruiter should have a compassionate demeanour, listen to the hiring challenges and business needs, and offer insightful advice. While a “yes-man” type of recruiter may seem appealing, it is more beneficial to have a recruiter who engages in a professional and peer-like conversation. The executive search process can be complex and often requires adjustments to the search criteria, interview format, salary negotiations, and other factors, which demands the expertise and skills of professionals.