FEATURE
EXECUTIVE SEARCH & RECRUITMENT
Searching for top talent: understanding the process
By Grant Hutchison, Senior Consultant at recruitment company Forsyth Barnes
WHAT IS EXECUTIVE SEARCH? Executive search is the process of appointing a specialist to discover, and subsequently headhunt, the best talent in the market for executive level roles including: C level, board level, director level, and other executive and managerial level roles, often meaning confidential searches are required. Typically, an executive search will mean reaching out to professionals who aren’t active in the market and need convincing to move to a new field, or to a direct competitor of their current company. It is usually a sensitive and confidential process where integrity and accuracy are imperative.
Key things to note when using an executive search service • Intelligence over industry knowledge – although industry knowledge is important, intelligence and overall commercial acumen plays a vital part in driving a business forward, bringing in new ideas to the organisation and allowing companies to think outside the box.
• Cultural fit is still, if not more, important – whether you believe culture is driven from top down or bottom up, cultural fit is important whether you are hiring an intern or a C level candidate.
• Above all integrity matters – you can never compromise on integrity.
Executive search is a continual cycle, and usually involves
finding the right candidate at the wrong time; actively recruiting all the time ensures you are always on the lookout for the best candidates in the market.
EXECUTIVE SEARCH: CONTINGENT OR RETAINED? There are two types of searches used within recruitment - contingent and retained. Contingent search is probably the most common type of
search in the broader recruitment industry. This type includes the recruitment agency conducting a search with no charge until the position has been filled. Typically, it is more closely suited to lower level roles, whereby a number of agencies will be employed and compete with one another to find suitable candidates that are actively job hunting. Retained search is the more common approach in the
executive appointments niche and is where the client and consultancy work on an exclusive basis. The fee is usually paid in two or three instalments as agreed by both parties
before beginning the search and typically includes the consultancy strategically market mapping and subsequently headhunting candidates who are not active in the job market. A retained search ensures that the market is covered as thoroughly as possible, providing clients with confidence in the knowledge that the search is comprehensive. With a retained assignment, the client and consultancy work much more closely to ensure everything is accurate throughout the entire process and it’s for this reason that retained search is most common in executive appointments, particularly when conducting confidential hires, because it ensures everything is kept streamlined and confidential throughout.
CHOOSING THE RIGHT EXECUTIVE SEARCH CONSULTANCY Hiring the wrong person for your business is one of the most costly mistakes you can make, and, likewise, working with the wrong consultancy can also be detrimental. It’s crucial to meet with a consultancy for you to understand the process and the service, and for them to fully understand your business. Accessing the the best people in the industry can
dramatically shape your decisions, and more so your business.
‘Actively recruiting all the time ensures you are always on the lookout for the best candidates in the market’
Training that GROWS your business The benefits of staff training…
Increased Productivity • Improved Teamwork Enhanced Communication Skills
Contact us now for a FREE Training Diagnostic
info@shiftinggears.co.uk
Or call Michael on: 07752 790269 40 business network December 2017/January 2018
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