The single most important factor contributing to the success of an organization is the ability to attract, hire and retain exceptional talent. The impact that a top-tier performer can have on an organization can be transformative. It might seem obvious, but these highly prized and valuable contributors are not sitting by the phone waiting for your call. Finding the right person to lead your company is a complex and resource intensive search.
Not all searches are created equal.
Retained executive search is inherently different and far more specialized than the typical entry-level or middle management recruiting engagement. In many cases, it can also be beyond the capabilities of internal recruiting teams. Sourcing, contacting, enticing and ultimately hiring top talent requires dedicated and experienced talent management professionals.
Executive search professionals can also help to get access to the best pool of potential candidates: “passive” job seekers, those that are not looking at all, or even those that are working at competitive organizations.
Access to Candidates from Direct Competitors
Hiring from a rival firm can mean bringing on someone with valuable new knowledge (and even clients) but it’s best to find an executive search firm that can provide the service for you. To start, hiring a star away from a competitors requires caution and finesse — you don’t want your company to be labeled as a poacher, start a talent war with a rival, or worse, be sued for breaching non-compete agreements.
Outsourcing keeps your company at arms length during the search. Professional executive search firms use a refined approach that is often much more subtle than having your in-house recruiters contact a competitor’s employee directly. It’s important to always be conscious of your actions when recruiting from direct competitors. For example, during the process it’s important to gauge the target’s interest before divulging too much information, especially if it’s a small industry with a limited number of competing organizations.
Better Candidates through Direct Recruitment
Passive candidates are those not actively seeking employment or a new job. This can be a huge pool of talent that your in-house corporate recruitment team is not exploring or simply doesn’t have access to through their existing networks. At Four Corners Group, we preform highly targeted direct and network research to identify appropriate companies and individuals during our executive searches.
Don’t underestimate the advantages of getting direct access to passive candidates. Oftentimes, the best talent are happy in their current positions and their employers are doing everything in their power to retain them. Incenting them to consider another option requires a different approach and extensive industry knowledge.
Confidential Executive Search
There are times when your company is ready to upgrade members of its executive team, and needs to keep the situation confidential for legal and reputation reasons. Engaging an executive search partner to take on a confidential search can help prevent the divulgence of confidential and sensitive information that can occur when these projects are handled in-house.