Why Use an Executive Search Firm? (And How to Spot a Good One)
At Moon Executive Search, we’ve been connecting businesses with invigorating leaders for over two decades. But we still get questions about what exactly Executive Search is, why and when it’s needed, and what makes a top-quality firm.
If you asked our clients what an exceptional Executive Search firm looks like, we’re confident they’d point decisively at us – so we feel very well qualified to answer…
Why Use Executive Search?
1. Some Roles Are Just Too Important Not To
Executive search firms are very different to other recruitment services because leadership positions often require a different approach. High turnover of staff is always a hinderance, but at the top it’s simply not an option. Your C-Suite leaders and Non-Exec Directors define your direction, and while filling that top role can deliver a period of renewed growth, filling and refilling it will be disruptive and set you back. You need to get it right first time. An Executive Search firm can provide the experience, resources, and expertise to observe your current situation, absorb your vision, and find the perfect match that propels you forward.
At the top, what you are looking for is the unique x-factor that’s right for your individual business. If other recruitment services are like buying a suit off the rack, working with a high-quality Executive Search firm is like hiring your own personal tailor. While a good Executive Search firm will refine its individual methods over time, the greatest method is remaining client-centred, because there is no one-size-fits-all approach.
2. Deliver Lasting Impact
Businesses approach Executive Search firms when they need a high-impact leader to take them in a new direction, or a new face to take up the mantle of an outgoing Executive who was driving the business from strength to strength.
Neither of these needs are easy to satisfy in-house. Many industries are changing rapidly, with the spread of new ideas, technology and globalisation, there are many schools of thought on how to drive growth. This can make filling leadership positions overwhelming, but it also presents a huge opportunity to inject something new. Good Executive Search firms have wide-ranging knowledge, and an awareness of trends both within the industry and in the wider world of business leadership. Helping you think outside the box and providing solutions that you may not have considered to future-proof your business.
A quality search firm will have a clear plan beyond the hiring process, making sure the successful candidate is ready to make an impact as soon as possible, and proactively aiding the onboarding process to ensure retention.
3. Objectivity
Sometimes you’re too close to the issues to see them with clarity. An Executive Search firm will not only help you fill your vacant position but will look closely at your existing dynamics with fresh eyes when doing so – complementing your existing team to make it fit for purpose.
The world looks very different in orbit compared to when you’re plugging away down on the ground!
Having industry expertise is a huge asset, but as experts in leadership, exec search firms will look for valuable leadership characteristics without being blinkered by industry dogma. Using an independent firm is also a good way to negate any unconscious bias and encourage diversity.
4. Harness Its Network
At the Executive level, it’s not just the size of the network that matters – it’s the quality.
A firm can have a huge number of contacts on its books, but without building up a trusting rapport over time they are unlikely to understand candidates well enough to put them forward for the right positions. The diversity of the network is also vital. One of the key advantages of using a search firm is to escape your industry bubble, and a firm which has been operating for some time, across multiple industries is more likely to deliver a wide range of candidates. Looking through the lens of your firm’s network is also a good way of seeing how internal candidates stack up against what’s out there. At Moon, our Build Your Board resource lets our clients harness the power of our network in a confidential, user-friendly way.
5. Navigate a Candidate Driven Market
With the tools and network to locate and approach candidates on a highly discrete basis, an Executive Search firm can give you access to a pool of candidates you would never have discovered.
Top Executives need to be approached in a way that endears them to your organisation and gets the process off to a positive start. Executive Search firms have refined this process to a tee and using one with a well-established reputation will immediately make your role stand-out, stimulating interest and putting candidates at ease.
Looking for a game-changing Executive leader? Contact us and find out how we can help: recruit@moonexecsearch.com
Business leader looking for your next opportunity? Feature on our database of top candidates: Build Your Board