Finding good managers is tricky. One survey revealed that many companies fall flat when choosing leaders. They pick people without the right skills or expertise 82% of the time.
It’s a terrifying prospect as one bad manager can cost companies millions of dollars in damages. A pack of them can push a business to the brink. This is why many companies leave the hiring to executive placement firms.
An executive search firm is an employment agency that finds top-tier professionals. They search, identify, engage, and even hire people for C-suite positions. These agencies are also experts at finding niche specialists who are vital to a company’s goals.
Executive placement firms are a cut above conventional head hunter companies. They offer distinct and valuable services. Their niche role means there are a lot of myths and mysteries about them. This post will disprove the top misconceptions about executive search agencies.
Misconception #1: Executive Placement Firms Aren’t Worth the Expense
Many people believe it’s not worth paying for an executive search firm. You’ll miss out on a good opportunity if you believe this.
The price for executive search services is higher. You’ll have to pay anywhere from 33% to 35% of the new hire’s annual salary to avail of their headhunting expertise. It’s a good investment though.
You need the right leaders to maintain company stability. These individuals know how to manage expansions, mergers, and acquisitions. They can adapt to industry changes and have good crisis management skills. The efficiency and expertise they bring to the table outweigh your initial investment.
Misconception #2: Executive Headhunters Only Deal with C-Level Positions
Executive placement firms specialize in recruiting CEOs, COOs, and the like. They can also help hire vice presidents and directors. An executive head hunter can also identify individuals ideal for niche technical positions.
These companies understand the key differences of various industries. They can adapt their hiring strategies to find someone who fits a specific need.
Misconception #3: Companies Will Lose Control Over the Hiring Process
Some businesses believe an executive search means losing control over the hiring process. That’s not true. Executive placement firms are true business partners. They work hand-in-hand with clients to ensure their goals match.
Your company is there in every step, from vetting candidates to interviewing them. The executive search firm is there to provide guidance and expertise. The ultimate decision is in your hands.
Misconception # 4: They Only Consider External Candidates
The notion that executive placement firms only consider external candidates is a myth. A head hunter will look for talents outside the company. But they’ll also check internal candidates for leadership posts.
Executive placement firms do fair evaluations of your employees’ potential. They’ll look into every viable option first.
Misconception #5: Only Big Companies need Executive Search Firms
Companies of all sizes and shapes need executive placement firms. Some experts even argue that small businesses need them more. That’s because these companies don’t often have the resources to do an executive search. Some don’t even have the expertise or the people to look for C-suite applicants.
You’ll have a better chance at securing top talent if you partner with an executive search company. They’ll help you compete for top-tier applicants and make smart hiring choices.
Misconception #6: Ordinary Employment Agencies Can Do the Job
Conventional head hunter companies are good at finding entry-level and mid-level talents. C-suite job openings are at a different level though. The stakes are higher and the ideal worker has a specific skill set.
Executive placement firms have a special way of checking potential hires. They also have exclusive access to high-level networks.
To Conclude
Executive placement firms are critical in securing the right leadership talent. The misconceptions surrounding these agencies hide a crucial truth. It’s that these companies do more than recruit people. They provide industry expertise and access to a large talent community. Working together with them will transform your hiring system. It will also set your business up for success.
Helping You Build a Winning Team
Are you ready to build a winning team? It’s easier if you work with NW Recruiting Partners. Our company provides expert recruitment solutions tailored to your distinct needs. We specialize in connecting top-tier talents with awesome employers. Our track record speaks for itself. Call us at 206-343-8732 or message us here. We’ll help you find the leader you need.
