Every organization has several positions that need filling, and a basic recruitment process is undergone to solve the problem. However, unlike other positions in an organization, the executive positions need to contain the very best people for the job, which are hard to find since they are barely searching for a job. Thus, an executive search is needed to solve the problem.
When a company needs highly skilled senior management talent, an executive search is carried out. These senior management talents are necessary for every organization to fill critical positions, such as the CIO, COO, CEO, HRD, and CFO.
Organizations use contingency recruitment when searching for qualified candidates to fill positions of junior talents. There will be a vacancy, and those that want to apply for the roles will apply. However, it is different for the senior management talent since most of the time, they will not be searching for jobs but are needed in an organization for smooth running and growth.
Some firms specialize in executive search; these firms are hired whenever an organization needs to fill its senior management positions. Identifying and engaging the best senior talent for the vacant posts in a company is the work of executive search firms. There will be a collaboration between the executive search firm and the organization to deliver the best senior talent using the most effective strategy based on the company's requirements. These firms carry out research extensively before approaching any candidates.
Hiring organizations do not conduct executive searches; they only need to inform executive search firms what they are looking for in the best candidate for the job. Extensive search firms can quickly contact the best candidate for the role since they can access various companies' senior executive officers.
When executive search firms want to conduct an executive search, there are steps followed which include:
Establishing search priorities
Determining the mode of search
Attracting and evaluating the best candidates
Presenting the most qualified candidates for client interview
Completing the search