Benefits of using an Executive Search company when hiring C-Suite Candidates
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Finding top talent can be likened to the Pareto principle: identifying the 20% who make 80% of the impact on your business. The best leaders are often not in the market and are fully engaged. As a result, they need to be identified, approached, and assisted when considering a career move.
There’s an art to sourcing C-suite candidates that is different from the methods used for entry level and mid-tier roles. Given that the welfare of a company is primarily dependent on its leadership in a highly competitive business ecosystem where the slightest managerial error could have far reaching reputational and financial implications; companies usually go the extra mile in securing top executives. Going that extra mile usually means working with a reputable Executive Search company.
What is an Executive Search company?
An Executive Search company is a recruitment agency specialised in finding top-level candidates for highly specialised positions. When a senior role becomes vacant, especially one where candidates may not be readily available and identifiable in the job market, employers typically resort to the services of Executive Search companies to get the job done. Although a search can be undertaken by the in-house recruiting team of a company, executive recruiters employ a unique set of people skills and business expertise to identify the most suitable candidate to fill an important position.
Advantages of Executive Search companies when hiring C-Suite Candidates
Here are some reasons why it is essential to retain the services of an Executive Search firm when it comes to finding the ideal talent for business critical roles:
Access to an extensive network of top professionals
The pool of high quality executive talent in South Africa is small and a company may exhaust its own network without finding a suitable candidate. Searching on job sites and social networks can prove frustrating as many executives avoid registering their CVs online for various reasons such as the need for privacy. Mindcor not only has an extensive global network spanning industries and sectors built up over years; our talent pool contains exceptional candidates, many of whom possess scarce skills.
Time and resource saving
The process of hiring executives is time consuming and sensitive. Many of our clients do not have enough experienced HR resources with the capacity to undertake an extensive search or negotiate expertly with candidates. At Mindcor, we help our clients to evaluate their expectations and organisational structures. We define suitable profiles and advise on market-related remuneration structures for each position. Our experience and understanding of the market saves valuable time, effort and money for our clients, and reduces the cost of error. The time and cost of managing the hiring process using in-house resources – from advertisements to extensive candidate screening and verification – can be evaluated against the cost of outsourcing to a credible executive search firm. The financial implications of making the wrong hire should also be balanced against the investment in an experienced and reputable Executive Search firm who can curtail the risks.
Discretion and confidentiality
Discretion is essential when hiring executive candidates and even more so in delicate situations such as when a replacement for an existing C-suite executive must be found, or a candidate from a rival firm approached. A reliable Executive Search firm will provide the strict confidentiality and professionalism needed. At Mindcor we are adept at handling highly sensitive information or contexts to protect our candidates and clients from competitors or other variables. Our experience is that top candidates appreciate the confidentiality and professional approach of a third party in moving their careers forward.
Objective information on candidates
The search for a senior executive is critical and companies cannot afford a bad hire. Executive Search companies have the resources and should have the evaluative skills needed to understand and identify the specific requirements in qualifications and skill set needed for the position. Not only can Mindcor identify the right candidate, we also provide objective and impartial feedback on qualified prospective candidates to the employer. We are expert in research, candidate evaluation tools, and reference checking and can obtain significant information even from reluctant referees. We are also best positioned to assess internal candidates that may be legible for the position or for promotion within the company.
While searching for the best talent, Mindcor gleans valuable market insights for our clients. Our consultants are chosen for their industry backgrounds and skill in research, so they know how to extract relevant information. The data we gather on candidates’ perceptions of a company or competitors, or future opinions of an industry, is also found useful by our clients in improving their business.
A top performing candidate is a competitive advantage for any company and Mindcor is well versed in delivering top performers. A strong hire can propel a business forward and improve performance for long term sustainability and growth.
Hiring for C-suite roles is a time-consuming, sensitive and often stressful process. Handing this process over to a reliable Executive Search company such as Mindcor is effective, efficient and expedient. Not only do we scour our external networks, we also objectively evaluate the available in-house talent to find the best possible person for the role.
We believe that extraordinary business performance is delivered through people, which is why we cherry-pick only the best candidates to save you time and money. Contact Mindcor today to ensure your company’s future success.