What Is Meant by an Executive Search?

Definition: Executive search involves finding potential candidates for high level positions within an organization. Various methods for recruiting senior-level executives such as posting vacancies on job boards or running ads are available but they are now considered as outdated. Therefore, various companies hire an executive search firm to recruit such candidates from outside the company.

Process: The organization has to provide a detailed description of the position for which the recruitment process has to be carried out to the executive search company. This description should include the qualification details as well as the knowledge and skills required in the candidate. The hunt for the "deserving" candidate begins with a deep search of the database for professionals with the required skills. They inform the eligible candidates about the vacancy. These candidates are interviewed and a written report on each individual is created by the executive search company and is given to the hiring firm. Then the short-listed candidates are interviewed by the hiring firm. If the appropriate candidate is found then the search is ended otherwise it is continued until a suitable match is found.

Types: Mainly there are two types of executive search firms- contingency and retained. This division is done on the basis of payment. Contingency firms are paid only and when they find the required candidate. While the retained firms are paid on the basis of number of hours spent by them in the search process and are paid regardless of whether they find a suitable candidate.

Delimited: Hiring firm has to pay a small fee to initiate a delimited search. However, if the executive search company cannot fill the position or meet some other condition as mentioned in the contract then it is liable to refund the fees to the hiring firm. The final placement charge is usually 30 to 35 percent of the successful applicant's first year compensation. Also, delimited search agreements include the last date by which the search has to be completed. It means that the fee should be refunded to the client if company does not get success in recruiting a potential candidate till the specified date.

Benefits: Hiring executive search companies is an efficient way to extract the best candidates for top management positions in a firm. They have an experience of assessing the skills. Simply advertising the job opportunities is not enough to get the best candidates for such high positions because suitable candidates may not be interested in searching a new job due to their satisfaction with the ongoing jobs. In that case executive search companies can approach directly to potential candidates with successful careers. They can conduct the search more confidentially and can provide thorough reference and background checks.

Executive Search Process - A Step by Step Guide

Any organization can greatly benefit from hiring the right candidate for their top positions. But, the question here is, how do you hire the right executive? Desperate and haphazard hiring of executive can risk sinking even the strongest of companies. Here is a step by step guide to finding the right executive for your unique needs and each position.

Executive search process:

A successful executive search is tied to well-conceived planning and research, as well as flawless execution of it.

Step 1: Create a position profile:

The first step in the search process is gathering and analyzing in-depth information of position specifications, key performance indicators, and critical success factors. This is because; no employer can identify and locate a highly talented, and quality individual to fill a position, without knowing what it required from a position in question and what knowledge and skill set it will take to meet these needs. Careful gathering of all this information helps to craft that position profile, based on which the necessary search will be initiated.

Step 2: Identify and assess candidates:

Using a combination of expert referrals, personal networks, computer database, advertisements, and organizational mapping, suitable candidates are located and identified. These candidates are then screened, evaluated, and shortlisted before deciding upon the final list of candidates to be called for the interview.

Step 3 Interviews:

The most qualified candidates are made to go through a rigorous interview, where not only the candidate background information is dug but also their thought process. Digging deep into the candidates thought process will help to understand what they are looking for in their next career move, do they know themselves well, how they conduct their business, what is their performance track record, are they a "high potential", and what motivates them. Evaluation report of candidates is prepared and the shortlisted candidates are will be further invited for extensive interviews.

Step 4: Reference checks:
To generate a comprehensive profile of the candidate's strengths, weaknesses, and qualities, two reference checks are consulted with managers and peers.

Step 5: Selection of executive and salary negotiation:

Once the best suited candidate is selected, salary factor will be negotiated so that both the employer and employee will reach a fair and successful term with regard to cost.

Executive search firms in the search process:

Executive search firms are types of company that specializes in the recruitment of candidates for executive, senior, or highly specialized positions in organizations. They have a wide range of personal contacts in their field of specialty or industry; specific, detailed knowledge in the area; and operate in the most senior level of executive positions. They involve themselves throughout the hiring process, conducting interviews and presenting selected candidates to their clients. With high level of professionalism, evaluative skills, networks, internal research resources, these executive search companies identify potential candidates that match clients' requirements, and also that would fit into the culture of the hiring firm.

Hiring executive search consultants provides a structured professional approach to recruiting that gives hiring companies a number of benefits, some of which include:

a. Insulation from unqualified professionals

b. Precise targeting on potential candidates only

c. Time saving, as all the initial search aspects are done by the search firms

Executive Search Firm in India

Executive search firm is the term used for define a recruiting or placement firm that does active search and in most cases has a few consultant employees. The search may be performed by an organization's board of directors, by executives in the organization, or by an outside executive search organization.

The fraternity of executive search firms in India offers all job seekers a gateway to submit their resume for consideration in their many job searches. Since the last few years, the concept of executive search firm has dominated the Indian recruitment market. In fact as India is now one of the hottest labour markets Clients are increasingly adopting this method and with good reason.

It would be highly difficult and time consuming to analyze all the jobs or fulfill all vacancies by any company internally. So the company assigns this to an Executive Search firm who present the open position to job seekers. Executive search firms in India play a vital role in this whole process. From developing the job description along with the personnel of the client, which involves describing the contents of the job in terms of functions, duties, responsibilities, and operations to sourcing names of potential candidates, creating interest in the position of the candidate to assisting in scheduling interviews as well as making the offer and successfully tackling the counter offer, if any.

In India, the search executive firm fills the gap between the jobseeker and the Company. Other than its own databases it combines with several job portals such as naukri, timesjobs, jobsahead and monsterindia and sources candidates from them for hiring executives. This way, they service both the job seeker and the employer. The reach of these executive search companies is far and wide so the information is rich and very valuable for the employer.

The compiled database of every executive search firm is organized in such a way that it will be easy for the employer and job seeker to obtain specific information about the company profile, as well as the future of their job in the respective company. This assures a perfect match. An employer can search by criteria like work experience, age, skills, work history, educational background, salary expectation, and so forth. It can be accessed anytime and anywhere as long as the employer is connected to these executive search firms. Companies that offer executive search solutions usually require a small fee for the millions of viewable resumes available in their database.

Executive Search Firms Can Lead Their Segment By Publishing Quality Outcomes Data

Executive search firms tend to keep the quality outcomes they provide to their clients private. However, superior quality levels provide a significant competitive advantage if customers understand the data and if they see value in the benefits. The retained executive search industry and each respective firm needs to be asked to make the decision to be among the first or last firm to measure, report and leverage superior quality outcomes.

Every executive search firm has performance data readily available that defines their recruiting effectiveness. However, most firms do not divulge this information to anyone outside of their inner circle. After all, releasing detailed information that defines the firm's recruiting efficiency, twelve-month post-hire retention rates, and repeat client information could adversely impact a recruiting firm's image and sales momentum if the results are less than outstanding.

What's the solution? In a recent interview Mr. Yvon Chouinard, CEO of Patagonia, a $230 million privately-held leader of high-quality outdoor goods stated, "The answer for many problems is to improve the quality." Executive search firms can and should actively manage and report their quality levels. And, it should be done with a strong focus on client needs rather than on the recruiting firm's historical business model. Then, those who are able to demonstrate a track record of superior quality results will see accelerated new client growth and improved client retention rates. It's a simple formula. Improved quality benefits each search firm client and generates improved sales and profits to the search firm.

My commitment and passion towards measuring and providing high-quality retained search service is in part due to the obvious alignment created with healthcare clients. There is an increasing trend towards healthcare providers effectively monitoring, managing and reporting on a variety of metrics pertaining to key quality outcomes. It's happening in more and more segments of the Healthcare industry and it will continue to expand. As a result, clients should expect, and receive, the same level of accountability from their service providers of high-value executive talent as they require of themselves. It seems all too obvious to create true alignment as search firm success requires linking a client's business strategy to the executive search process and outcome.

Three measures clients and search firms can begin with: twelve-month candidate retention, timing from search initiation to client interviews and search firm revenues from current and previous clients. First, twelve-month candidate retention rates are significant as it is an appropriate time for the newly hired executive to learn and gain momentum and develop an understanding of the organization's culture, systems and operating strategy. Secondly, timing needed for the search firm to start a search until candidates are interviewing with the client demonstrates the search firm's knowledge of the industry and ability to identify and recruit global leadership for a specific search. This metric is also a good indication of a client's commitment towards the search process. Client firms consistently urge search firms to quickly produce respected individual candidates. These same client firms need to ensure their ability to drive internal hiring processes to successfully recruit and hire the successful candidate. Finally, the percentage of annual revenues search firms receive from long-standing clients, repeat business, tells clients, candidates and prospects the level of thoroughness in the search process and overall customer service levels provided. While no firm will be looked upon for a percentage less than 100%, a high percentage of repeat business, especially over multiple years, provides real insight to the search firm and the search firm's quality commitment.

Quality results do provide a competitive advantage and it is my commitment to remain one of the top performing executive search firm in terms of our ability to consistently deliver high-caliber retained executive search services to investors and operators throughout the Healthcare industry. I believe the retained search industry should become a leader among healthcare service providers to improve and deliver quality to our clients. This alignment will serve clients best for the long run.

What to Look for When Dealing With Recruitment Agencies

It is well accepted that having the right staff in an organisation is the key to organisational success. Unless you are able to make smart staffing decisions, it is unlikely that you would be able to recruit human resource that gives your organisation an edge over competition. The staff your recruit should be of high caliber, possesses the right attitudes and be able to fit in with your organization's unique culture. Only when all these aspects are considered in recruitment decisions, will the right choice be made. What it boils down to is that recruitment itself is a specialized task which is best handled by someone with proper HR management experience and knowledge. While some large scale corporations may have the luxury of having their in-house HR team to make effective recruitment decisions, most do not have this benefit. This is why it pays off to enlist the services of a recruitment agency when it comes to your staff hiring needs.

Why Use a Recruitment Agency?
Some small to medium companies believe that using the services of a recruitment agency is a waste of money or an added cost which they don't need to incur. While it may just look so in the short run, think of all the wrong staffing decisions that you may have made. The cost of a wrong recruitment can be fatal at times, especially if the post filled is at high up in the organisational chart. Wrong strategies, failed implementations, bad customer handling, fraud, de-motivated staff can all be repercussions of recruitment decisions gone bad. Recruitment is a key function of human resource management (HRM) and should not be treated in ad-hoc manner. It should be integrated in to the overall company objectives, the culture and the job functions desired. The new recruit should possess the required competencies, skills and qualifications so that they can easily take over the duties and responsibilities with minimal training. To ensure all this, it is best that a professional recruiting agent is entrusted with the task.

Benefits of Enlisting a Recruitment Agency
There are many benefits that firms can enjoy by enlisting the help of a professional recruitment agent. These benefits will far exceed the costs of professional fees you would have to pay for the recruiting agency. Below are some of the main benefits worth noting.

Greater HRM Expertise - recruitment agencies have professional recruiters who are well qualified and possessing the right knowledge of HRM competencies relevant to recruiting. For instance, they are well versed in the techniques to apply in 1st, 2nd and last rounds of screening to get the best applicants selected. Various interview methods, group interaction observations, team skill tests, personality tests etc. are applied by professional recruiters to see the fit between the applicant and the company for which they are being selected. A manager or an owner of a small or medium scale company is unlikely to have such competencies related to HRM function.

Better Experience - A professional recruiting agency handles recruitment for many clients. Hence, they are well experienced with the task. Years of recruiting has sharpened their senses when it comes to detecting genuine applicants from frauds. They are also more capable of checking out references and seeking out job histories of applicants.

Greater Accessibility to prospective candidates - Recruitment agencies subscribe to job banks, take part in job fairs in colleges and universities and have greater access to prospective candidates. They also advertise a number of posts in one large news paper advertisement which gains better attention than small classified ads which your firm may put for a single position. Greater the number of applicants, better the chance of recruiting someone more suitable for the post.

Application of effective recruitment procedures - A professional recruiting agency will guide their client organisation on proper recruitment procedures as well. In addition to handling interview process, they will issue template appointment letters, probation guidelines and employment contracts to the client agency, to ensure effective appointments of those selected by the agency.

In conclusion, one can see clearly that a recruitment agency is in a better position to make a recruitment decision that is more effective than an ad-hoc hiring of an applicant. By spending a small fee on a professional recruiting agency, your company stands reap many benefits that have long range implications, if the selected applicant proves to be a star performer that can take your company to new heights.

Using Graduate Recruitment Agencies to Search for Graduate Recruitment Jobs - An Eye Opener

Graduate recruitment agencies are a great tool for students who recently graduated from university. In this ever changing job market, it's often hard to find job vacancies. Some companies only post jobs internally or only post them through job boards or recruitment agencies. Recruitment agencies were once looked at as an easy way out for recent graduates. However, recently they've been considered legitimate resources for people seeking jobs. Graduate recruitment agencies hire recruiters who utilize their skills to place each graduate in a great company. Agencies make the employment process smoother for both the graduate and the company that hires them.

Of course, while there are many positive aspects about graduate recruitment agencies, one downfall is that many agencies post the same job vacancies. These job vacancies are often the same vacancies that you'll find on common job boards. The reason these jobs are posted through multiple agencies is that the hiring company prefers to maximize the search potential instead of concentrating it through the resources of one or two agencies.

While it's frustrating to see the same job posted in multiple places and on multiple agency sites, you can use this to your advantage. Repeat job postings can lead you to different agencies. While it's good to focus on one recruitment agency during your job search, it also doesn't hurt to check out other agencies. New graduates should especially keep their options open and take advantage of researching alternate agencies. Only if you keep your options open, you stand a real chance to get placed on a job.

Using a graduate recruitment agency to search for other agencies might seem counterproductive, but it will provide you with more information. For instance, if you're looking for a marketing job and your current agency isn't providing you with any interviews, a new agency might have dozens of job vacancies. If you're following a repeat job posting link to a new agency, take a look around and see what services they offer and what job vacancies they have posted.

Additionally, check out the "Information" or "About Us" sections of each graduate recruitment agency website. They'll often include links to agency partners, subsidiaries, or alternate locations. Some of these subsidiaries or alternate locations specialize in recruitment in specific locations or industries. Some agencies are spread across various locations whereas some only focus on marketing, advertising, and administrative work and leave more technical and scientific based jobs to other agencies.

Recruiters often provide new graduates with information on the job seeking process, such as telephone hotlines, blogs, newsletters, or brochures. These usually include information on where to find additional agencies. Graduate recruitment agencies are usually tightly interlinked. However, it's easy to discover which agencies will be the best for your location, job sector, skill set, or education background.

Graduate recruitment agencies are a wonderful way to break into the job market. For new graduates, it's important to know all available resources. The first agency you find might not be the best for your specific needs, but it might be the one to give you information on another agency.

Recruitment Agencies - Why Use Them?

You have heard about recruitment agencies, but you may not be aware of what these firms do. Just as the name sounds, recruitment agencies are companies or firms that have a list of job vacancies and a database of people who are looking out for jobs. They match their database of job seekers with job vacancies as and when they come up. These agencies sprung up in America in the year 1893. Fred Winslow started an engineering firm in 1893 and that later on became part of a much broader network called the General Employment Enterprise. The mode of operation of this firm was similar to what recruitment agencies do nowadays. The basic aim of recruitment agencies is to identify, locate and then hire workers on permanent or contractual basis. The temporary agencies handle the recruited people on short term contracts. Many companies like to outsource some of their workload during the peak season or when permanent staffs are on holidays. It is to fill this gap that temporary agencies hire people. There have also been situations where temporary staffs have been upgraded to full time jobs if proved efficient.

There are recruitment agencies that provide services within their country and agencies that provide services to employers abroad. International agencies are known to be present in larger numbers than local recruitment agencies. This is due to the fact that there is always a demand for employment abroad and there are more takers for jobs that come from another country. In fact the highest number of recruitment agencies is sourcing employees for the Middle East, where there is a high demand for foreign workers. The agencies in UAE are on the lookout for persons with varying skills and they usually have a job for people from most backgrounds. With the popularity of internet growing there are many agencies that operate online. Such online recruitment agencies are known to be very successful as the information gets across to the prospective employer and the employee at a much shorter time. There are also many recruitment sites where employers can post their requirement and job seekers can post their bio data onto the website. This gives both the employee and the employee a platform to interact before the final decision is taken. Many such online websites are springing up and are proving to be very successful.

In this modern world, many companies rely on recruitment agencies to find the right person for the job. In general, the agencies do not charge a free from the job seeker. It is the employers who pay the recruitment agencies a fee for finding them an employee that suits their requirement. So as a job seeker you do not end up paying for the agencies services. By going through an agency, you can save time that you would otherwise spend going through classified sections. If you are looking for a job in a particular sector, these agencies are your best bet as they will have a list of jobs that you are looking for and that will help you to land up with a job of your preference. These agencies will also be able to help you in preparing your CV and in preparing for interviews. They can also provide you with valuable feedback on the interviews that you attend and help you by doing mock interviews. Many employers prefer to go through recruitment agencies as they are a one point contact for their recruitment needs. Such employers may not entertain you if you apply to them directly. With so many advantages that a job seeker can avail with the help of a agency, it is a good choice to utilize their services.

With a host of recruitment agencies operating in the market, a job seeker has to exercise some caution before entrusting their future with a recruitment agency. Past records of the agency has to be checked properly and it is better to approach one that has been licensed to recruit people. In the case of online sites, go for reputed sites and check their disclaimer before moving forward. There are many bogus agencies that operate in the market and one has to aware of such agencies. These agencies often request job seekers to pay a nominal amount as registration fee and this is a sign for you to be cautious when dealing with the agency. Be smart and be aware otherwise bogus recruitment agencies can take you for a ride.