How is Executive Search different from old Recruitment firms and staffing agencies?
Executive Search differs from other means of recruitment such as traditional recruitment agencies and advertised posts. This difference is not merely a case of semantics. Executive Search is approached with a completely different mindset.
Most distinguish Executive Search from other types of recruitment by the pay grade of the candidate – usually rupees 50,000 or above. However, a more important distinguisher is that Executive Search focuses on bringing in specific niche skills into an organisation. Traditional recruitment methods tend to be more passive and rely on candidates to initiate action, and this is not likely to bring in these requisite skills.
Traditional recruitment methods work fine when there is an abundance of the skills sought and potential employees are actively looking. Typically through, the skills required to steer an organisation, as a senior manager or an executive would be required to do. These are rare and even if found, there remains no guarantee that the person who possesses them will be able to gel with the organization. Compounding the problem is that frequently, the people with the requisite skills are likely not to be actively looking for a new position.
These complex issues are especially exacerbated in Pakistan where the demand for executive talent that builds on an organization’s transformation objectives is far outstripped by the supply.
Executive Search, when done correctly, eases a lot of these burdens. Due to its specialized nature, Executive Search, also known as Headhunting, is typically undertaken by an Executive Search consultancy on behalf of an organization. Any Executive Search consultancy worth its salt will have the networks, industry knowledge and research abilities to source, vet and assess the fit of a candidate into a client organisation. At no point is the Executive Search process passive.
What Are The Benefits?
The benefits of Executive Search are numerous. The most significant, however, is that Executive Search is a tailor-made solution. Each search is built from the ground up and while Executive Search consultancies may use their pre-existing networks, each search results in a brand new pool of candidates from which a shortlist may be drawn. This makes the process responsive to the client organisation’s specific needs and special circumstances.
Executive recruitment firms can also handle some of the things that Human Resources Managers may be uncomfortable doing. For example, Executive Search consultants will directly approach a candidate who may be working for a rival company. Executive Search consultants can also negotiate salaries and other potential barriers so that the candidate’s first contact with the client organisation is not bogged down by thought negotiation.
In addition, using a proven Executive Search consultancy has typically predictable results and because of the tailored matching, is likely to: Reduce turnover at the executive level; increase organisation – wide productivity; and maximise shareholder return. The Executive Search process is always underpinned by confidentiality.
Where Does the Process Begin?
Because of the very different skill senior managers and executives must possess and because of the role they play in the organisation, the Executive Search process must begin by developing a complete profile of the potential candidate. This profile crosscuts skills, personality, experience, network, demographics and other such requirements. It includes identifying key relationships internal and external to the organisation. It is the profile that an Executive Search firm will use as the benchmark against which potential candidates are scored. Many Executive Search consultancies have developing this profile as part of their services.
Once a profile has been developed, the sourcing of candidates can begin. The techniques used by Executive Search firms differs somewhat and thus it is important that client organisations ensure they fully understand the process as it will determine what they eventually get out of it.
