The Executive Search or the “Headhunting” is the process of recruiting individuals to fill executive positions in organizations. Executive Search firms also help clients draft accurate and enticing job descriptions to draw in a pool of qualified candidates. The Executive Search profession ranges in models from “Retained” search to “Contingency” search and “Delimited” search. Retained search firms are paid a retainer up from the start of the process, another portion of the process and balance when the candidates begin work. While, Contingency search firms, receive their entire fee at the conclusion of the search process. Delimited or Engaged search is similar to retained search with a certain difference, but with the condition that the fee is refundable in case if the firm is not a suitable executive for the post. An Executive is an important part of the firm and it may not always possible for the company to find the best talent in the market, it is advisable to hire a firm that can do the task.
Since Executive Search firms are specialist in what they do and the way they operate is also very consultative; understanding the client’s business need, defining it into hiring requirement, defining the roles specs, vetting seasoned professionals against those specs, managing the offer making process and making the candidate join.
5 main phases of Executive Search to exceed client expectations by providing the meaning choices of candidates a smooth and thorough process.
Establishment Search Priorities
Analyses the challenges unique to the organization and the role. They determine the skills, knowledge, and abilities on how clients can think about their needs. They develop a customized position and candidate specification, detailing the company, the role, responsibilities, goals and key challenges of the position as well as the experience, qualifications, and competence required for success.
Determine Search Strategy
Conduct targeted research into companies and sectors to find those with relevant skill-set and qualifications, supplementing extensive knowledge of and relationship with board directors and senior executives. Develop a long list of prospects best qualified for the role, with the goal of providing real options for clients. Talking to third-party contacts to identify and qualify prospects, preliminary referencing work for more productive long-list discussion.
Attract and Evaluate Candidates
Approach potential candidates to test their interest in the role. Conduct a rigorous competency-based interview with candidates based on the proven skills, knowledge, abilities and attitudes outlined in the position specification.
Present most Qualified Candidates for Client Interview
Drawing informal external views on each candidate to confirm and enhance knowledge of the candidate’s achievement and track record, provide meaningful insight past performance and reputation.
Complete the Search
After the client has selected its preferred candidate, conduct thorough background checks and references to further assess competencies. They conduct a client satisfaction survey to improve service and refine the approach. Assists in negotiations over compensation and other terms to be able to finalize the search. Once, the client follows up the candidate then the search is closed.
Executive Search firms are specialized recruitment services that find top-level candidates for senior, executive or other highly specialized positions for clients. Headhunters usually use a number of different tactics in their executive search to ensure their clients receive the best executive candidates. The unique method helps to find and attract a wide range of professionals. In addition, recruiters have access to “passive candidates” or individuals who are looking for a new position. These candidates often represent the most qualified talent in their industry. During an executive, the main role is to identify the best passive and active candidates for their clients. Usually, they have a more sophisticated and creative method of identifying and screening virtuoso in any field. Further, an executive searcher can execute a discreet search to find the right match, which can be appropriate in specific solutions that contributes more to an organization in terms of profits and savings compared to the cost to find them. Here are several ways they establish a talent pool.
Executive recruiters are active relationship builders. By networking themselves, job seekers raise their chances of coming into contact with associates of recruiters by establishing steady and meaningful contact with acquaintances, friends, university alumni and industry influences who might be the perfect candidate for a job opening.
Recruiters also become confidantes who can recommend individuals who might be right for job openings and provide first-hand insight about them.
The recruiter’s section of LinkedIn’s Talent Solutions programs has been a major hit with executive recruiters. The design makes it easy for headhunters to search the full profile like make notations, about prospects, send messages, collect responses and store reports.
Other Online Social Platform
Recruiters scour all types of blogs, social media websites, and forums that cater to specific professional niches. They also regularly track trending industry topics on Twitter and Facebook, nothing professionals that provide expertise, unique ideas, and engaging discussion.
Recruiters frequent the conference circuit, taking note of dynamic speakers and panelist headlining events for membership associations in industries that match their specialized recruiting areas. Job seekers should attend as many professional conferences as they can and assume active roles.
Recruiters use a few search tricks to find professionals in the right location, with the right certification and endorsement.
The executive recruiters always have their antennae up for professional lauded in industry media sources or watching industry news.
Social Recruiting Apps
Social recruiting sites and applications are made exclusively for recruiting which provides an automated search for recruiters to find and track job candidates across the entire web.