No matter the unemployment rate, the degree of difficulty involved in finding top-tier talent remains the same. Actually, it could be argued that for companies attempting to find the candidates they need on their own, the difficulty is even greater. That’s because with as many job seekers as there are in the marketplace, those companies can quickly be overrun with resumes and applications.
As a result, it takes longer to find the candidates they want to interview and potentially hire, and by the time they do find them, those candidates are typically no longer available. Needless to say, that’s a misuse of time, energy, and resources.
On top of that, there’s the cost of keeping a position open for an inordinate amount of time, not to mention the cost of a bad hire. The cost of the latter is especially expensive, depending upon the position involved.
Taking all of that into consideration, below are 4 main reasons why companies use executive recruiting firms to find top talent:
1. Time savings—As discussed above, a company’s HR department can be overrun by resumes and applications, keeping it from making any substantial progress in its search for qualified candidates. Executive recruiters take care of almost everything, meaning that company officials can devote more time to their everyday tasks, increasing their productivity.
2. More passive candidates, less active job seekers—While active job seekers aren’t necessarily bad, chances are good that passive candidates aren’t going to apply to online job postings. In fact, some of them aren’t even really looking for a new job. However, they would be open to considering a new opportunity . . . IF that opportunity was presented to them. Executive recruiters know where these passive candidates are and how to present such opportunities.
3. A partner throughout the entire process—A quality recruiting firm will partner with a company throughout the entire recruiting, interviewing, hiring, AND on-boarding process to ensure a successful hire is made. A recruiter’s work is far from done once the candidate accepts the company’s offer of employment. That makes the company’s job far easier to accomplish.
4. Eyes and ears within the industry and in the marketplace—Executive recruiters work in the trenches day in and day out. They know what’s happening in the employment marketplace overall and their clients’ industry in particular. They know what the top talent is doing, and they know what the top companies are doing.
Many companies partner with an experienced recruiting firm to find the candidates they want, and they do so for the reasons listed above. If you have an important position you need to fill or you want to stay more in tune with industry developments, align yourself with such a firm.
When selecting an Executive Recruiting Firm look for the following traits:
Smaller firms with a long-term relationship mindset, they will give you the attention you deserve.
Personalized service and a strong candidate vetting process.
Recruiters with an understanding of all operations you will be hiring for.
Client retainer based firms will be far more committed to your cause than contingency based firms.
Recruiting firms that work as a team to place talent, this will give you more than one recruiter helping you build your dream team.
If this is something you would like to explore further, please send a note to firstname.lastname@example.org