"In the end, all business operations can be reduced to three words, people, product, and benefits. Unless you have a good team, you don't have much to do with the other two." Jack Welch.
Considering that an organization's success depends to a large extent on its people, it is of the utmost importance to have the proper recruitment processes in place.
When the need arises to carry out a selection process, regardless of how it is generated: creation of a new position, growth of an area, internal promotion of the person who held the job, vacancy; among others, the first thing the company should ask itself is: What will be the strategy used to cover the position?
To answer this question, it is important to consider: What type of professional are you looking for? What impact does the position have on the organization? How typical is the required profile? Is it a highly strategic position for the company's results?
The preceding will allow knowing if the position can be filled through the internal selection team or if it requires a specialized Executive Search firm. As consultants, we recommend keeping in mind the different specialties of recruitment firms, and not all positions should be filled using the same recruitment provider. Executive Search firms focused on senior management should be hired for high-impact, strategic-level positions.
With the foregoing in mind, several of the most important reasons why you should hire an executive search firm specializing in senior executives will be listed below:
Costs, time, and money: It is costly for an organization to have the wrong executive or have a vacancy with high strategic impact for a long time. In this regard, the multiple functions with which a company's selection area must fulfill must be borne in mind, which is why high-level profile search processes are lengthy and inefficient.
Knowledge of the market: headhunters have extensive experience of the labor market, in many cases not only of the country where they have their offices but also of different regions; this gives them high comparative capacity between one executive and another. This also allows them to provide a consultative service. They can advise the client concerning salaries, company structuring, trends concerning the functions and organization of certain positions, retention strategies, organizational culture, and talent of the different competitors or key sectors.
All of the above allows the client to compare their practices in the topics mentioned above with the best practices in the market and foresee how much the selected candidate will adapt to the new organization.
Sweeping the market: keeping in mind that the business's reason is executive search, a complete sweep of the labor market is carried out in the target countries and sectors. This detailed work could not be done within the company, given the high number of processes led from the recruitment area.
Hiring an external and serious firm guarantees that the best executive is chosen, the one who has the most appropriate skills and experience for the role.
It is also quite useful when internal candidates are being considered within the process, given the knowledge that the consultants have of the market; They can compare the organization's talent with the external one to make the best decision regarding whether to promote or bring in someone from another company.
Confidentiality: the fact that the process is carried out with an external provider gives the candidates peace of mind; because, in most cases, the interviews and the process, in general, are handled by the recruitment agency.
On the other hand, hiring an external executive search firm is a necessary option when an executive will be fired or is going to retire from the company. It is not convenient for the company that the organization's collaborators know this information.
Networking: headhunters have business networks that have been built over the years, extensive databases that streamline and make search processes more efficient. Additionally, suppose the company belongs to a global network. In that case, it has the support of other firms for access to international candidates, facilitating the search for executives who are outside the country, professionals who wish to return, or prominent executives who are in a transition period.
Guarantee: the selected and hired executive receives follow-up from the firm to verify their adaptation process to the company. Suppose the candidate does not conform to the organization or is fired for his performance before 3 months of employment. In that case, a guarantee is given in which it is agreed to do the work again without any additional cost.
Prestige: before the market, the company raises its brand. It shows how important their executives are to them and their investment in having the best talent. When looking to rebuild your image as an employer, hiring a recruitment agency has a positive impact since it is a clear sign that you are investing in people.
In accordance with the points made, it is evident that the cost-benefit of hiring a headhunter; is favorable. It would help if you found the business ally to meet the company's needs concerning senior management profiles. Business ally that due to its close relationship with the company, will carry out a more profound consultative process each time given the knowledge it has of the business, the talent, the culture, and the organization's goals.