An executive search firm is often referred to as a professional service provider company that has specialization in recruitment of executives and other senior professionals for its client companies under some form of agreement. There are many companies now days who are seeking service from such firms in order to fill in the positions in a time and cost effective manner with perfection. While it is a very effective approach to gear up for recruitment needs, there are certain factors that need to be kept in mind for the selection of such firms.
- The first thing to look out for is the industry experience. It is better to look for executive search firms which have already worked in the similar segment for a better knowledge base. The best way to find this information is through company website. If the industry in which the firm has worked is not mentioned, it is better to go through the list of clients for which the firm has worked for. This also helps in gaining insight regarding the same.
- Every business has its own sell-ability quotient and business development objectives. This criterion holds true for executive search firms as well. An insight regarding their business model and structure they follow to provide their service is essential to be noted. This will determine whether the business process is suitable for the client company or not.
- The success of a firm lies in the number of tasks completed by the company rather than number or projects it roped in. So, one should visit online forums wherein organizations and individuals give feedback about the recruitment projects actually completed successfully by such firms. This determines the actual performance of the firm.
- Flexibility is a key to such firms. The better a firm can mold the business process in accordance with the client company, the more effective service provider it becomes. Hence adaptability of the service provider in accordance with client company structure and work culture is an added advantage.
- Recruitment process is a continuous process. The companies are usually in need for professionals all-round the year for various functionalities and building up as well as maintaining a stable workforce. Hence, if one can enter in to long term partnership with such a firm, then it becomes a cost and time effective approach of handling the recruitment needs to the business.
The executive search firm should have a strong database of candidate profiles which is updated on a regular basis. This helps in looking in to the fresh profiles that are most updated and relevant at the same time. The networking channels of such a firm should be strong and well connected to source the candidates effectively. In addition to this, it should also have access to passive candidates. Such candidates are not easily available as they are not actively looking for jobs and mostly are working with competitors. The executive search firm should be able to convince such candidates for the opportunity and the selection process.