Why using executive search firm is worth your money
Let’s be honest here: senior level hiring is no easy task. Even for a multinational company with its own in-house human resource department, sourcing C-suite professionals can be challenging, expensive and time-consuming. That’s why companies turn to executive search firms to help them fill critical positions at the top. They know that a single bad hire can send the business in a downward spiral, so it’s worth investing in the services of a reputed executive search firm.
Here’re some of the reasons why using executive search firm is worth your money:
- Quality candidates, guaranteed: You may use a variety of recruitment methods – including employee referrals and LinkedIn – but nothing can guarantee you quality candidates. By ‘quality’ we don’t just mean appropriate skill set and experience but also personality and cultural fit. Executive search firms are specialists in matching candidates and clients in such a way that they complement each other. To ensure a perfect match, these firms undertake rigorous screening and vetting process, including 360 degree referencing, background check as well as psychometric and competency tests.
- Access to a wider talent pool: For executive-level mandates, traditional recruitment methods such as employee referrals, jobs postings, and even LinkedIn may not deliver desired result, as the executive candidates could be found across industries and geographies. The best executive search firms are able to tap into a wider talent pool - including both active and passive candidates - using their extensive network of industry professionals across the globe. They have strong expertise and in-depth knowledge of the markets in which their clients operate.
- Efficient and cost effective: Whether you are a small company or a corporate giant, using an executive recruitment firm is a cost-effective solution. The upfront fee of a hire may seem high, but when weighed against the cost involved in marketing, recruitment campaign and screening, not to mention the additional cost of turnover and rehire in case of a bad hire, it is quite a saving. As executive recruiters are specialists in their profession, they can advice you on current market trends and help negotiate employee compensation as per the industry standards.
- Reduce risks of a bad hire: The risks associated with a bad hire – especially for a senior level position – are manifold. Apart from the financial loss, research confirms that a wrong hire can affect staff morale and productivity, client/customer relationships, and economic performance. Given the long-term impacts of a bad hiring decision, organisations need to take executive onboarding seriously. Using an executive search firm means you can rest assured that they will find only the best candidates for you. They can help clients evaluate their requirements and expectations, and accordingly source the perfect match.
- Work with industry experts: Working with executive search firms means you benefit from their knowledge, experience and industry connections. Executive headhunters are not just professional recruiters, but also have strong background in the field they specialise in. This is where executive recruitment firms differ from your average recruitment agencies or in-house HR team. HR professionals source candidates; executive recruiters source leaders. At AP Executive, we take pride in our global teams comprising of ex-industry professionals and seasoned recruiters. They regularly attend industry events, seminars and workshops to develop professional connections and stay current with industry trends. Many of our executive recruiters hold professional qualifications such as STEP diploma, ACCA/ACA, CIPD, or similar, meaning they know the ins and outs of working in the financial services industry.
- Observe strict confidentiality: When hiring for an executive level position, confidentiality is of the utmost importance. From marketing to screening, the search needs to be highly confidential. It could be disastrous if the candidate is exposed to their current company or the client’s competitors. Executive recruiters appreciate this fact and adhere to strict confidentiality and data protection at all times.
AP Executive is a world leading executive search firm with over 26 years of recruitment experience in wealth management, trust and fiduciary, investment banking, family offices and legal sectors worldwide. With an extensive industry network spanning over 55 international jurisdictions, we are the market leaders in executive search and selection. Our clients benefit from our specialist expertise in recruiting for niche financial sectors, as well as our innovative approach to candidate sourcing. As an affiliate member of APSCo (Association of Professional Staffing Companies), we are committed to serving our clients with professionalism and integrity.
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