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Leadership

Harnessing the Value of Executive Search

November 29, 2018

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Why should you use a top executive search firm like Borderless? In a nutshell, because finding qualified, top-tier executives is an art and a science requiring the right skills, contacts, and a proactive approach.

Additionally, making a bad hiring decision for the top echelons of your organization could be very costly, to say the least.

A specialized executive recruiting firm will have a valuable network of potential candidates that are not always readily identifiable in the market. Through focused expertise in recruitment strategy and tactics, they will conduct detailed interviews and selectively present candidates for you to consider.

Top retained executive search firms

Trying to fill an executive vacancy on your own will take more time, which could be costlier in the long run, both in terms of resources devoted to the search and the impact of the unfilled vacancy on staff. Most corporations that decide to use a top retained executive search firm – which typically means an exclusive agreement with the hiring firm for a specified period to find a candidate – do so because they don’t have a broad network or the internal resources required to evaluate candidates themselves.

Hiring through an executive consulting firm is also a good way to avoid potential problems with a competitor or other businesses you could be working with. A discreet, impartial third party makes hiring from the same pool of talent as your competitors far less risky. A good corporate search firm will use a subtle approach, first gauging interest by reaching out to potential candidates without being specific about the hiring company.

Global network

As a top-retained search firm, we have built up a global network of contacts in our industries of expertise at Borderless, giving us access to a far deeper pool of premium talent. We also have an in-depth knowledge of our clients’ sector, whether it’s Chemicals & ConvertingLife Sciences, or Food & Drink, which helps immensely in finding the most suitable candidates.

A further advantage of turning to a top search firm is to gain access to a more diverse selection of candidates. Diversity is increasingly seen as an asset within a corporate setting and an important criterion for senior executives roles. According to a recent McKinsey study, companies in the top quartile for racial and ethnic diversity are 35% more likely to have financial returns above their respective national industry medians. The study also says that companies in the top quartile for gender diversity on their executive teams were 21 percent more likely to experience above-average profitability.

Top retained executive search firms conduct extensive research on all candidates, bringing far greater diversity in terms of candidates and helping avoid any unconscious biases within your firm.

Selecting a top retained executive search firm

There are a number of criteria you should consider in selecting the right top executive search firm for your needs, including:

  • Knowledge of your sector
  • Personal references
  • Personal chemistry
  • Reach (local, national, global)

It’s important to work with a firm that understands your sector and the specific position you are seeking to fill. You should take a look at relevant assignments the executive search firm has filled in recent years and compare that to the position you are seeking to fill. Check the client references and consider the chemistry you have with the person who will be conducting the search. And, finally, make sure their scope of reach is sufficient to attract the right type of candidate.

Take a look at our sector expertiseteam of consultantsseamless global reach, and get in touch to discuss your specific needs, today!

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