Most successful businesses rely on their people — the individuals responsible for creating and delivering products and services, as well as building relationships and interacting with customers. In fact, none of these functions are possible without the right people leading these organizations.
With the workforce always on the verge of transformation, employers are more competitive in attracting top leadership talent and choosing a fitting executive search firm is necessary when doing so.
Talent is crucial to business success. Nowadays, companies are prioritizing not only leadership qualities but also the right talent when taking on senior leadership roles. In the Philippines, talent attrition rate is notably high. According to Sprout Solutions, 68% of employers consider finding qualified candidates as a challenge.
Leadership is paramount in maintaining organizational stability, achieving business objectives, and moving them towards success. Imagine a leader with the right talent, skills, and expertise, and how much they can elevate the company to new heights of transformation.
Yet, hiring the right leader is more difficult than said, especially with senior roles. Having an executive search firm by your side provides a strategic advantage and will benefit the company more than you think.
Similar to choosing the right company to work for, choosing the best executive search firm should be done properly. Start by identifying the company’s needs. Understand how these executive roles will help transform leadership within the company. Then, define the executive roles based on skills, qualifications, and experience. Additionally, state job responsibilities, objectives, and challenges associated with the position.
Once business needs are identified, the next step is to research about executive search firms. Conduct research on the different executive search firms and their services. Know how it will benefit the company, understand their process, look for firms with experience in the company’s field/industry, and evaluate their success rate in recent years. Start researching through online resources, professional networks, industry directories, and so on. Then, organize and make a list of possible executive search firms you have in mind to partner with.
While the primary goal is to find an executive search firm, setting a budget is also important. Make sure to set a realistic budget for the executive search. This budget is crucial as it helps track expenses, avoid overspending, and meet business goals. With the budget in mind, make sure to choose an executive search firm that fits the budget.
When all these are set, it’s time to meet with executive search firms personally. It is important to talk with them in-person through meetings; or if that’s not possible, fix a call with them, when both schedules are aligned. It is necessary to know the team members that the company is working or wants to work with. Afterwards, evaluate their knowledge, communication skills, and their understanding of the business. This way, it ensures that both firms understand each other and make sound decisions in their candidate hiring process.
Nonetheless, don’t forget to maintain confidentiality with firms. Even with hiring, confidentiality is a must. Because data and information are involved, an efficient executive search firm is one that prioritizes the security of the data of the candidates, as well as client information. Make certain that these firms have protocols and data confidentiality agreements that safeguard the employer and the candidates during the hiring process.
Expect quality in service among these executive search firms. Employers need to choose executive search firms based on the quality of service they provide. The process should be conducted thoroughly, ensuring that every step is precise, from the initial job description to the final placement. Emphasizing quality often lead to successful candidate selections and hiring processes, making the investment in executive search firm worth it. — Angela Kiara S. Brillantes
