An Overview of Executive Searches
Executive search (ES) is used by companies to find a suitable candidate for a senior-level job. Also called headhunting, this type of recruitment is known for its proactive approach. It doesn’t rely on traditional methods like posting an ad and other low-cost alternatives.
How It Works
ES has two points. First, it’s relationship-driven; second, it’s a research-led approach.
The recruitment process involves working with executive search firms, third parties who can identify senior talents that match your business specifications. They’ll work closely with your company to understand your requirements. They’ll look into the skills and character that the position needs so they can find the best suitable candidate.
ES firms will carry out extensive market mapping that’ll help them set a standard for roles and salaries. Agents have a broad knowledge of various industries. They also have a range of personal contacts they can utilize, allowing them to build a pool of potential talents. And, they don’t simply forward the resumes of those who qualify. They conduct detailed interviews before presenting the candidates to their clients.
ES recruiters are often tasked to search candidates that’ll fill the C-suite. It’s a widely used term that refers to a group of an organization’s most important and influential individuals. The name is from the titles of top executives, which tend to start with the word “chief,” such as:
Chief Executive Officer
Chief executive officers (CEO) have the highest positions in an organization. Their primary responsibilities include making corporate decisions and managing resources and the overall operations of the business. They also act as the communication bridge between the board of directors and the employees and are the face of the company to the public.
Chief Financial Officer
As their title suggests, chief financial officers (CFO) are in charge of the monetary actions of the company. Their tasks include tracking cash flow and fiscal planning. They’re also responsible for analyzing the business’ financial strengths and weaknesses, as well as proposing corrective measures to the board.
Chief Operating Officer
Chief operating officers (COO) oversee the everyday administrative and operational functions of the company. In some businesses, they’re known as executive vice presidents or operations directors. COOs typically report straight to the CEO and are considered the second in command in the corporation’s organizational chart.
An empty C-suite position can have a negative impact on the success of your business. But, that doesn’t mean you should resort to quick and low-cost alternatives for the sake of filling senior management spots. Work with firms and, through an executive search, they can help you find the perfect candidate that best fits the role in your organization. You can look for them online or on social networking sites.