What is an Executive search?
An executive search is a process that finds candidates for leadership roles in an organization. These include positions such as President, Vice President, Chief Executive Officer, Chief Technical Officer, Chief Financial Officer, and additional C-Suite human capital.
Why Executive Search?
An executive search is a complex task and more challenging than the recruitment of junior resources. Filling leadership roles requires extensive planning, robust talent searches, problem-solving and intuitive thought.
Locating an executive for a role requires the search personnel to be enthusiastic, dedicated, and resourceful. The agency supporting the company’s recruitment efforts is called the search firm.
Essential Components
The process of searching for an executive consists of several essential components.
Strategic approach in planning.
The first skill needed is to understand an organization’s skillset requirements for the C-Suite executive role. Understanding this from the organization’s perspective is critical to exceed their expectations and target qualified candidates.
Finalized approach
To execute an extensive search, comparisons from various companies must be researched to ensure the executive’s current history fits the requirements. These elements cover the required skillset of executive, their strength, current compensation, and competency and map to the organizations’ requirements. Using a few techniques like The Meyers & Briggs Type Indicator, MBTI help to screen and identify the fit of candidates.
Impress the Executive Candidate
Impressing the executive candidate is an underrated ingredient. Not all executives are in the looking or transition mode nor will they be interested in giving up their current position for a new one. You will need to attract them with excellent compensation, benefits packages, and negotiate with the hiring organization for an attractive deal.
Executive Screening
Executive screening is a process that shortlist executives, which are then scheduled for a meeting with the hiring organization’s key individuals. It is mandatory to have all necessary background verification, personal and employment, of the executive candidate. A complete report must be in hand.
Shortlist
At the stage of shortlisting your job is temporarily completed, yet you should never disconnect. Stay in touch with the hiring organization and be available to assist them as the process moves forward. Once a candidate is selected look for a background check and get feedback about the executive’s performance in the new role and his efforts.
Searching and recruiting a leadership team is a challenging process. We need to follow certain criteria, labor regulations, and ethics. Make learning about the organization and the executive needs your primary concern. In this way you will possess a mutual understanding. The search firm must support the hiring organization in all processes of recruitment and post recruitment.