Blog

Executive Recruiters Ensure a Good Fit for Your Organization in 3 Important Ways

By August 19, 2019 No Comments

Executive recruiters prioritize what is important to an organization’s success when identifying your next executive. In fact, when it comes to building the right cultural dynamic for operations, retained recruiting can help fill gaps. That is because this relationship creates a three-dimensional, objective view based on trust and knowledge.

executive recruiters

Executive Recruiters Protect Confidentiality

When recruiting for a leadership role, confidentiality is important for both the company and the individuals seeking an executive-level position. Utilizing a team of executive recruiters will keep the search active while maintaining privacy for the company. At the same time, you receive top-notch, hand-selected individuals who have been properly vetted based on established criteria.

Executive Recruiters Boost Confidence

Executive recruiters give you confidence knowing that a trained professional that focuses on your industry is on the job. Also, your executive recruiters have the network to locate key executives that are open to change.

Executive recruiters will partner with you as an extension of your team. In addition, they take time to learn and understand your organization’s key areas and deliverables. Above all, they vet the cultural fit and uncover the intangible assets each person has to offer.

CFO recruit

Executive Recruiters Ensure Cost-Effectiveness

Cost-effectiveness when recruiting and hiring is at the forefront of any senior executive’s mind. It is no different when engaging external help to augment or own with their recruiting process for key team leaders. Sourcing, interviewing, and qualifying candidates is really an 8+ hour a day job. Unfortunately, there are many other key responsibilities and deliverables on the internal team’s plates. Recruiting often is put on the back burner. That costs the company additional money by not having positions filled. The time saved by retaining an executive search partner is a value you really can’t put a number on.

Whether planning for succession, expanding leadership, or replacing a previous executive, using executive recruiters can move your organization forward. Identifying the right leader is crucial when moderating risk and navigating a complex economic environment. Manhattan Resources is here to help you build a great team as your trusted and knowledgeable partner in growth.

Hiring for Positions that Are Difficult to Fill

Hiring talent is something that affects every business and every level of management. The ability to recruit great talent is key to the ultimate success, or failure, of a business. However, there are certain roles that can be particularly difficult to fill. In these scenarios, there are times when it can be valuable for an organization to partner with a search firm.

The Harvard Business Review reports more than 80% of employee turnover is because of poor hiring choices.  Similarly, research from the US Department of Labor says the price of a bad hire is 30% of the employee’s first-year earnings. As the position becomes more impactful to the business, this number increases exponentially. Long term cost of a bad hire is as much as $211,000 based on a $95,000 salary. Take steps to avoid costly hiring mistakes and consider hiring professionals with a retained executive search firm.

executive recruiters

When to Hire Executive Recruiters

Here are some common scenarios that make working with a retained executive search firm smart and profitable for your company.

Time is Opportunity

The need to allocate internal resources to conduct a high profile search can prohibit a business from growing. Instead of running operations, handling employees, or building partnerships, business leaders are occupied with the job search. What is the cost of a missed opportunity for your company?

executive recruiters

The Role is Beyond Internal Expertise

Often times leadership roles are the toughest to recruit. Primarily, this is because there may not be an internal team member who fully appreciates and understands the role. If they don’t fully grasp the challenges of the role, it will make it difficult to define the parameters. Lacking background, it is nearly impossible to recruit talent and make a sound decision. Let’s say the role is outside the internal recruiter or business leader’s own knowledge base. In this scenario, it is difficult to fully assess a candidate’s answers in an interview. Therefore, it is also difficult to determine the right fit for the organization.

Limited Internal Resources

Not all companies have the luxury of having a dedicated talent acquisition department. Even if they do, this may not be an expansive team. HR departments do so much more than hiring. They are responsible for employee relations, benefits, compliance, training, etc. These responsibilities are absolutely vital to keep an organization running properly. With a finite amount of time and resources, HR departments stretch thin to try to do it all. Good talent can slip through the cracks.

Both from a time and a workload perspective, there are situations when the resources must be ruthlessly allocated. If the role has been open for a long time, or the internal HR department is at capacity, a difficult position to recruit will not receive the attention it needs.

Executive recruiters deal only with recruiting talent. They have mastered tools and strategies to hunt down the best possible talent for any position.

executive recruiters

The Role Needs to be Defined

New roles are particularly difficult to recruit for. That is because, typically, there is no benchmark to serve as a point of reference when determining the skills they need. This is also true for roles in which the predecessor was unsuccessful. Usually, the role will need to be redefined and the department rebuilt, etc. The need for guidance increases exponentially when the position falls outside the standard scope or target profile at other companies. Generally, successful companies find themselves in this position and quickly lean on the experience of executive recruiters.

The Role has a Big Impact

Logically, the negative impact of a poor hire increases with the level of influence a position has within a company. Finding a leader who will define strategy, work with other departments, and create processes should be carefully considered. The cost of a bad hire in this situation can be huge. In some cases, it can take years to recover. Conversely, making a great hire can have a positive ripple effect for years to come. The problem is that internal teams and business leaders aren’t able to search the same places an executive recruiter can access.

CEO speech

Confidentiality is a Critical Concern

When an internal search needs to be kept confidential from staff, partnering with an executive search firm is an obvious solution. What many business leaders tend to overlook is the need for the search to remain confidential to outsiders as well. Because they will be calling on behalf of the company, internal resources immediately alert any person they speak with that change is on the horizon at the company. Only a search firm will be able to speak with interested candidates who may currently be working in the industry, or possibly at a competitor, without divulging the identity of the company to every person with whom they speak.

So Why Hire Executive Recruiters?

The primary reason is that your company needs to win the battle for the most talented professionals.

  • Very often an internal team recruits with a limited field of view. They also lack tools and updated methods due to conflicting goals.
  • Statistics show that as much as 85% of professionals in today’s job market will consider taking another role for a good offer.
  • Because job boards were ranked least effective for finding high-quality candidates by HR News Daily.
  • And because search firms can view your company as either a client or a pool of talent. Better to keep them as a partner

business culture

About Manhattan Resources

Manhattan Resources is a retained executive search and advisory services firm with deep experience assisting our clients in building high-performance teams. We specialize in oil & gas, retail energy, power & utilities, petrochemicals, manufacturing, distribution, and engineering. For this reason, Manhattan Resources invites you to experience an executive search and business solutions partner like no other. As always, we are there to help you fill mission-critical leadership roles, build high-performance teams, and tackle your most significant challenges. We measure our success the same way you do. Making sure your team is exceeding corporate objectives and measuring how much our people move the needle for your company. Manhattan Resources has the agility, innovation and business acumen to assume a bold approach. As a result, we will help you take your business to the next level. Find out how the experts can help. Contact Us >>