Working with an executive search firm ensures professionalism, confidentiality, and objectivity in the hiring process. It finds the most suitable candidates while being cost-efficient. The executive search process may vary differently for search firms regarding methods, tools, and approaches to handle client relations, market analysis, and candidate screening. However, the essential steps of the search process are outlined by the Association of Executive Search Consultants (AESC), adhering to a high level of ethical standards.
Here’s how executive search firms find candidates:
Step 1: Initial client meeting
The initial phase involves a meeting between the executive search firm, the hiring client, and relevant stakeholders. The agenda is to outline the client’s search requirements, timelines, organizational strategies, and corporate culture outlook.
Step 2: Analysis of client’s requirement
During this step, the search firm begins a thorough analysis of the client’s company. It identifies the critical opportunities for the new executive and drafts a candidate profile that suits the client’s corporate and organizational structure.
Step 3: Creating position and candidate specification
Following the process, the search firm completes a deep market analysis and creates an enticing job profile. The market analysis outlines the competitive environment and core competencies they will seek in the candidates.
Step 4: Research strategy
In this stage, the search firm develops a strategy to trace the key companies most likely to yield the best-qualified candidate. The plan documents all the methods to gain access to the market’s top talent and the tools to reach them.
Step 5: Candidate identification
Here, the search firm creates an industry-wide map of the talent and develops an extended list of potential candidates. After compiling the list, the researchers and search consultants begin to qualify the potential targets and identify their suitability.
Step 6: Interviewing and qualifying the prospects
A series of detailed interviews continues to discuss the specifics of the executive job. This determines whether the potential candidates meet the primary requirement of the job role and confines the list to almost ten qualifying candidates.
Step 7: Presenting the shortlist
Before presenting the candidates to the client, the executive search firm completes the basic background check of the qualifying candidates. It verifies their skills and work experience background. Once the process of verification completes, the shortlist is presented to the client.
Step 8: Narrowing the shortlist
Here the client narrows the shortlist to a maximum of 3-4 candidates with the assistance of their executive search firm. During this stage, the search firm begins a thorough reference checking to provide a detailed analysis of the strengths and weaknesses of every candidate.
Step 9: Offering the negotiation
After considering the series of interviews and external references, the client selects their preferred candidate. It follows the commencement of job offering and salary negotiations. Often, the search firm acts as a mediator between the two parties.
Step 10: Onboarding
Finally, the talent hunt ends when the chosen candidate accepts the offer and agrees to join the company. Often, the search firm stays in closed ties with the client and senior executive to ensure long-term satisfaction for both parties.
About the business
If you are looking for a top-grade executive search firm, Tower Hunter Executive Search Firm can help you best. We provide top-level candidates for senior, executive, and other higher specialized positions. Owing to our reputation and customer feedback, we are indeed the best. To know more, call us at 602-652-8604 or reach out to us at [email protected] and [email protected].