Recruiting candidates to fill important leadership positions is often a significantly different task than what most people expect when they think of common hiring processes. There is far more depth, nuance, research, and responsibility when it comes to finding and hiring a person for an executive role, and there are several unique challenges, procedures, and concepts that go along with it.
As such, the idea of executive recruiting (and all that it entails) can seem daunting or overwhelming, especially for those who are unfamiliar with its many intricacies. Thankfully, we at SmartSearch are here to help.
SmartSearch is an international executive search firm that is leading the way when it comes to helping clients find individuals who have the skills, knowledge, and experience to lead a team or company to success.
As experts in the field, we’ve created this comprehensive guide to executive recruiting that will better clarify the general concept, and convey its intricacies in a way that is accessible to both experts and novices alike.
What is “Executive Recruiting?”
Put simply, executive recruiting is the process of searching for ideal candidates to fill a top-level, leadership position in a company.
This process is typically carried out by an executive recruiting firm, which collaborates with clients to determine the specific demands of a given position and the preferred qualities of potential hires. Once these parameters are determined, the firm will then help clients actually find appropriate candidates, vet them, and help you to make the right hiring decision.
What is an Executive Recruiter?
Sometimes called a “headhunter,” an executive recruiter is a member of a search firm and a professional who leads the search process for highly-qualified candidates to fill leadership positions.
Executive headhunters perform a variety of tasks before, during, and after the actual search process, relying on their connections and expertise to get you the candidate that best fits the role.
What is the Executive Recruiting Process?
Although the concept of executive recruiting is rather straightforward and easy to understand, there is a surprising amount of effort and work required for each phase of the process.
To help you better understand the ins and outs of executive recruiting, we’ve broken its major elements down into a series of easily-digestible steps and guidelines:
Hire an Executive Recruiting Firm
When it’s time to find and recruit an executive for your company, the very first step you should take is to hire an executive recruiting firm such as SmartSearch.
As experts in the field, we will guide you through each element of the search, and work with you to determine the needs of your company and the position you’re hiring for.
Additionally, as a recruiting firm, it should come as no surprise to learn that we play a key role in the actual executive search process, such as seeking out potential candidates or conducting any necessary research, all while actively collaborating with you every step of the way.
With an expert executive recruiting firm like SmartSearch at your side, the burden and stress of finding, compiling, and refining promising prospects is lifted off your shoulders, and you’ll be able to focus on the finer aspects of the search and its associated processes.
Establish the Needs of the Position and the Traits of the Ideal Candidate
At the outset of the actual executive search process, it’s critical to establish what the executive position will demand of a given candidate, and what traits or qualities a given candidate needs to satisfy such demands. Thanks to the ever-evolving nature of the modern business world, this step has become increasingly important. Without firmly-defined goals, you won’t find the right candidate.
Conduct Research Into Markets and Prospects
This step consists of refining your parameters, conducting targeted research, and identifying as many desirable candidates as possible. It’s not unlikely for recruiters to compile a list of a hundred or more possible candidates during this portion of the process.
Reach Out to Candidates
Once a satisfactory list of prospects has been compiled, the outreach process can begin. It’s crucial to reach out to candidates through multiple means, including phone, email, and even relevant social media sites, such as LinkedIn.
Phone Screens and Interviews
With so many potential recruits to consider, the next step of the executive hiring process should be to start going through your options with a fine-toothed comb, whittling down your “long list” of possible candidates into a “short list” of strong contenders. An easy way to do this is by implementing some quick-and-painless phone screens. Candidates who make it past the initial screening can then be offered a proper interview, which will further refine the pool of potential executives.
Finalize the Short List and Begin Company Interviews
Following phone screens, initial interviews, and discussions with the relevant teams or firms, you’ll have a short list of your strongest candidates. Using this consolidated list as a guide, the best prospects can be invited to the next step in the interview process. Typically, these late-in-the-game rounds of interviews are more involved and complex than the ones initially conducted, and often consist of multiple interviews with multiple interviewers, or even other types of assessments.
Offer the Position
Once you’ve whittled down and refined the short list of promising potential candidates by thoroughly evaluating them with multiple rounds of additional interviews or assessments, the time has finally come to offer the position to the right person. As always, it’s crucial that you discuss this decision with your executive recruiting firm so you can be certain that the right choice will be made.
How Long is the Executive Recruiting Process?
The overall length of the executive recruiting process varies, as each of its steps may have dramatically different durations or levels of involvement. For example, conducting your research, phone screens or interviews can easily last multiple weeks or even months.
As a whole, the executive search process typically lasts for 30 or more days. That may seem long, but it’s important to remember that rushing through this precise and necessary process can result in the hiring of an unqualified individual, who could easily cause an entire slew of issues for the company.
What is the Value of an Executive Recruiter?
Executive recruiters provide a valuable service that will save you significant time and money. Using their expansive networks and connections, they leverage their expertise to find exceptional candidates that will excel in a given position, and help lead your company to success.
However, many have said that the true value of an executive recruiter lies in their ability to not simply find the ideal candidate, but to convince them to join you. With the right recruiter, you can pass your own enthusiasm onto the candidate, making them as passionate as you are about the role.
What is the Difference Between Contingency Search and Retrained Search?
Contingency search is when the client or hiring company pays the recruiting or search firm a fee upon a successful placement and start date of the candidate.
Retained search entails an engagement fee up front to the recruiting firm to perform a specific search, typically for higher-level positions. Direct Recruiters offers a unique retained search, Direct Retention which also includes an extended guarantee.
Do Recruiters Work for Candidates or Companies?
Recruiters work for the company (client). Clients hire us to find specific candidate profiles to meet their needs. Sometimes these searches are critical, urgent, or confidential, and thus require the engagement of outside resources. Recruiters serve the client’s best interest by facilitating mutual introductions between prospective hires and the clients when interest is expressed.
Clients can feel comfortable and confident that recruiters will not send unsolicited resumes, charge fees before services are contracted, or pressure clients to hire selected candidates. Recruiters exist to make the client’s hiring processes easier and more productive, resulting in smooth hiring processes for exceptionally qualified candidates.
Can We Provide a List of Candidates We’ve Already Contacted to Avoid Duplication?
Yes, in order to avoid targeting candidates for recruitment that have already been considered by your company, we work with our clients to remove them from the recruitment pool. We do that to avoid wasting time revisiting the same candidates. We also analyze the client’s list to identify holes in the research. That is often how we uncover dream candidates others miss.
SmartSearch Will Help You Recruit the Right Executive For Your Company
By combining our level of expertise and dedication to providing excellent service with our innovative use of digital tools and cutting-edge technology, we at SmartSearch are able to offer something truly unique in the field of executive recruiting – a fast and effective solution, centered around quality and free of financial risks, that can fulfill the constantly evolving hiring needs of all industries, geographies, and job functions.
If you are in need of our executive recruitment services or have any additional questions regarding this guide or the executive search process, contact us today.
How Fast Can an Executive Vacancy Be Filled?
Depending on the exact service that your company elects, your executive vacancy could be filled in only a matter of weeks. There are several services that the experienced executive recruitment experts of SmartSearch offer to clients, including a retained search service, which guarantees that a position will be filled within a specific timeframe of your company employing our services to address a vacancy. Some positions will be filled more quickly than this, but we are committed to finding your new executive in this window. Other services offer similar guarantees, though the exact time frame can vary depending on the service. The longer you leave an executive role vacant, the more problematic the uncertainty can become for your company.
Can You Perform Your Own Hiring Process While Using a Recruitment Service?
Some companies see an advantage in trying to perform their own hiring searches while also investing in recruitment services. This type of service is known as an exclusive contract, meaning that a company will only use one recruitment company, but is still allowed to conduct its own hiring search. While there are benefits to this type of contract, there are also some to utilizing a retained search service. When a company does not perform its own hiring search, it may result in better hires and less time spent on marketing and hiring.
Depending on your company’s needs and time constraints, one or the other of these options may be right for you.
Do You Have Your Own Database of Candidates?
SmartSearch maintains a large database of passive candidates, which we regularly update through extensive executive talent mapping of companies that align with your leadership needs. Our org charts include those of major technology companies and leading Fortune 500 companies. However, we conduct fresh research for each engagement to ensure that the information provided is tailored to the client’s needs and preferences, and is up-to-date regarding top-performing prospects.
Does SmartSearch Take Diversity and Inclusion Into Consideration When Choosing Candidates?
At SmartSearch, we work at every turn to build partnerships with our clients and candidates that reflect values of diversity, equity, and inclusion (DEI) as well as foster environments of belonging and accountability. Just as the public conversation about DEI continues to evolve, so does our expertise, and we strive to bring that expertise to every executive search we perform.
Do You Have Any Areas You Specialize In (Industries, Business Types)?
The team at SmartSearch specializes in placing executives into vital positions within a company. Within that scope, we have the expertise to fill these roles regardless of the industry or type of business. There is always a qualified candidate out there and we know that we can place them in the right positions.
How Can Organizations Ensure That Their Recruiting is Inclusive and Unbiased?
Ensuring that recruiting is inclusive and unbiased requires a proactive approach that begins with a commitment to diversity and inclusion at all levels of the organization. Here are some strategies that organizations can use to promote inclusivity and reduce bias in their recruiting processes:
- Create a diverse and inclusive recruiting team.
- Develop inclusive job descriptions.
- Use diverse sourcing channels.
- Standardize interview processes.
- Provide training for recruiters and hiring managers.
- Monitor and evaluate recruiting metrics.
By implementing these strategies, organizations can create a more diverse and talented workforce.
How Can Organizations Build and Maintain Relationships With Executive Recruiters?
Building and maintaining relationships with executive recruiters is crucial for organizations that want to attract and retain top talent. Here are some strategies that can help organizations build and maintain relationships with executive recruiters:
- Be clear about your needs and expectations: To ensure that the executive recruiter understands your organization’s needs, it’s important to be clear about your requirements and expectations.
- Provide regular feedback: Providing regular feedback to the executive recruiter can help them to refine their search and better understand your organization’s needs.
- Cultivate a long-term relationship: Building a long-term relationship with an executive recruiter can help to establish trust and a sense of mutual investment in the success of your organization.
- Offer referrals and recommendations: If you have a positive experience working with an executive recruiter, consider offering referrals and recommendations to other organizations in your industry.
- Stay in touch: Even if you’re not currently working on a search, it’s a good idea to stay in touch with executive recruiters in your industry. This can help to ensure that you’re top of mind when new opportunities arise, and can also help you stay informed about trends and developments in your industry.