Executive search refers to firms that are in the industry of recruiting, and have specialized in finding candidates that are high quality for executive roles. Firms in the executive search industry are deliberate to understand their clients, that is, the organization or company that engages them to hire on their behalf. As a result of this process, executive search firms are able to understand the culture of the company, the talent in the company, the talent gaps and the different features or aspects of the roles associated with the position they seek to fill (Faulconbridge, Hall, & Beaverstock, 2015). The firms are therefore placed to get the right candidate for the position.
There are several reasons why companies engage executive search firms to handle the recruitment process, despite the cost implications to the companies. One of the reasons is the fact that these firms understand the market very well, as their mandate is researching the market and the market gaps. The firms therefore understand the markets in which their clients operate and are able to get their clients candidates who can place the companies at a competitive advantage. In addition, these firms understand the strategies used by the top performing companies in the market and can help their clients to adopt some of those strategies, hence assisting them to thrive in their market (Meriläinen, Tienari, & Valtonen, 2015).
With their knowledge of the market, executive search firms are able to locate the best talent in the market. As top performing candidates are more often after creating a legacy in the companies they work for, most of the time they are not actively seeking jobs and new positions. They however would consider a new opportunity for more growth, when it is presented to them. Executive search firms come in to execute that role (Hamori, 2016). They understand where the passive clients are and can be able to reach out to them.
Engaging the services of an executive search firm can save the company immense time. In some companies, it is easy for the HR department to become overrun by applications and resumes. This slows down the process of identifying a suitable candidate that is highly qualified for the roles desired by the company (Faulconbridge et al., 2015). In some instances, it hinders the identification of such clients. Services of executive search firms take care of these processes, allowing the employees of the company to focus on the day to day activities of the company.
Executive search firms make a great partner through out the whole process of recruitment. This means that they bring in their expertise in recruitment, interviewing and selecting the best candidate for the job (Hamori, 2016). In addition, they support their clients in ensuring the newly hired employee settles in completely and is able to comfortably take up the roles that he is assigned.