Executive Search Firms Common Among Corporate Giants

Companies of all sizes and across all industries use search firms to fill open positions. A delayed hiring process, particularly for top level positions, costs companies more than just money. The loss of reputation due to disorganization and the loss of confidence among shareholders push down stock prices, affecting a company’s financial positioning for months, if not years to come. Search firms specialize in finding the right candidates to fill an open position, from the mail room to the executive suite. Executive search firms cultivate a list of top-qualified candidates able to handle the challenges of upper management. Large corporations retained search firms to fill CEO positions several times over the past year, including organizations like E*Trade, Salinas Valley Memorial Hospital, Kaplan Test Prep and the Ohio School Board.

Changing the leadership of a large company involves more than just a quick call to a temp agency around the corner. Identifying top industry talents takes devotion to research and a constant dedication to building a network of executive level professionals. Time plays a crucial role in filling the top management spots in any company, but finding the right fit also takes time. Choosing a CEO can take a year or more, particularly when companies try to tackle candidate recruitment in-house.

Executive search firms that utilize a Lean Six Sigma approach to their business model offer the fastest possible turnaround times. Operating by Lean Six Sigma principles allows them to streamline the recruitment process and guarantee the shortest average cycle time to fill an opening. Retained search firms offer enough value to corporate giants that, for the first time, the Ohio School Board intends to use one to fill their State Super Intendant opening. Prior experiences with candidates engaging in unethical behavior has pushed the School Board to seek professional assistance with top level recruitment.

search firms

Photo source: http://www.flickr.com/photos/search-engine-optimization/2586668617/

Many companies cite the minimal interview process as one of the top benefits of working with a search firm. The best executive search firms pre-qualify all candidates, reducing the number of interviews to only a handful, allowing boards to rapidly decide between a few highly qualified candidates. The faster the board can narrow down the field, the faster they can begin the negotiation process. Search firms are invaluable in this part of hiring as well, offering expertise in building executive compensation packages suitable for both the company and the in-coming executive.

Using an objective third party for top level hiring removes any hint of nepotism and opens the field to the broadest range of talent. Top search firms maintain candidate lists nationwide, allowing them to find the top 1% in any industry, quickly.

Jesse Dugan is a part of an elite team of writers who have contributed to hundreds of blogs and news sites. Follow him @JesseDugan.

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