by Bill Benson and Jeff McGraw

Where do you start when you need to conduct a search for an executive level position? Do you have the internal resources to handle a project of this scope and evaluate candidates at this level? Do you need the search to be confidential?

Many companies hesitate about the cost of a fee associated with using a recruiting firm. While conducting the search on your own may save the expense of the fee, you also increase the likelihood of not finding and hiring the best candidate, which could cost you more in the long run. Networking or posting the position will lead you to some candidates and a few might even fit the role, but a thorough process led by a professional will help ensure you are achieving the best result.

Hiring the absolute best candidate should be the goal. It is about finding a transformative leader who can drive growth, innovation, and sustained success within the framework of your culture. Outsourcing your executive search with a professional search firm offers distinct advantages.

Here are eight reasons to outsource your search when the need arises:

1. Professionally Organize the Search: A consulting search professional will help you build the right specification, search strategy and internal hiring process. In addition, the search professional will help navigate involvement of stakeholders, internal candidates and constituent communication.
2. Better Candidate Pool: Executive search firms have extensive networks, research capabilities and the knowledge to access the entire talent pool rather than the 10-15% who might be actively networking and answering postings. Top talent will need to be recruited and won’t be answering postings. A better and deeper pool of candidates will always generate a better outcome. Additionally, you may want to increase the diversity of the candidate pool which can be done in a targeted way via a search firm. Recruiters may also be able to target companies that you are uncomfortable doing based on some type of relationship you have in the market.
3. Vetting and Discerning: Professional search firms have proven skills and methods to evaluate and assess candidates, not just for skills, but also for cultural fit, leadership potential, and alignment with your organization’s strategic goals. This added layer of discernment will lead to a better outcome and significantly decrease the risk of making an expensive hiring mistake. An executive hiring mistake is often 5 times the salary of the executive. The right fit from both a skills and intangible perspective will return the investment many times over.
4. Assistance with Every Step: You may not have the resources available to put the time into conducting a thorough search. The search professional will help you develop an interview guide, provide access to personality and psychological assessments, conduct references, background checks and bring other methods and tools to help you make the best decision possible. Having an experienced search professional walk through each step of the process with you is an invaluable resource.
5. Confidentiality and Discretion: Maintaining confidentiality during sensitive executive searches is crucial. Executive search firms provide a discreet process that protects your company’s reputation and minimizes internal and external disruption. You may have a need to conduct a quiet search while an incumbent is still in the role and the right consultant has extensive experience with this type of project.
6. Time and Resource Efficiency: Outsourcing your executive search saves valuable time and drag on internal executive resources that could be spent on other key initiatives. This also helps ensure you keep the project on track.
7. Negotiation and Offer Management: Experienced search consultants facilitate negotiations and manage offer details to ensure a smooth transition and acceptance of the position by the chosen candidate.
8. Long-Term Value: Hiring the right executive can have a profound impact on your organization’s trajectory. Working with a consultant that spends the majority of their time viewing and vetting top talent gives you a strategic advantage. Executive search firms help you make strategic hires that are game changers and contribute to the long-term growth and stability of your company.

Using the right executive search firm will provide a strategic advantage that goes beyond simply filling a position. WilliamCharles has deep and broad experience working across a number of different industries and sectors. We take pride in having close-up knowledge of the talent within our local markets around Grand Rapids, Michigan and Pittsburgh, Pennsylvania. We also offer capability across the Midwest and globally through an established network of partner search and recruiting firms. Partner with WilliamCharles today and let us help you find the exceptional talent that will drive your business forward.