Is an Executive Search Worth the Investment for My Company?
If your company has a C-level opening or your startup is growing fast and needs some experienced leadership, investing in an executive search firm may be a good idea. Typically, a retained executive search will cost you one-third of the candidate’s first-year salary.
So, if the cost of not hiring the right person to fill the job is more than the cost of retaining an executive search firm, you should consider making this investment.
Here are some reasons you might want to tap into an exec search firm’s resources.
You Must Replace an Executive
Your company may have a senior-level executive not meeting expectations. You would want to conduct a confidential search to replace them, while they continue to fill the role. An executive search firm can provide this anonymity for businesses that need to find a replacement for an executive still on the job.
There are no Potential Internal Hires
Most times, businesses look within the company to fill an executive position, someone who already knows the ropes. If there isn’t anyone you feel is a good fit for the position, you need a senior executive that is nothing short of amazing. An executive search firm will help you do the work in finding the top-notch performer you need.
The Candidate You are Looking for is Rare
Sometimes you need a candidate that doesn’t fit any mold and trying to find them can be frustrating. An executive search firm can provide you with a slew of candidates with the knowledge and skillset you need, along with the other traits that will make them a good fit.
You Have Created a New Position
Retaining an executive search firm is especially helpful when you create a new senior executive role. They have knowledge and expertise in this area, where you may still be a little green.
The Company Lacks Diversity
Diverse companies are more profitable and successful, statistically speaking. However, you must diversify your company leadership to improve the business’s bottom line. An executive search firm can do research to ensure equal opportunity for all candidates for the job, to assist in providing diversity for your company.
The Search is Taking Too Long
Searching for the right candidate for any job is time-consuming and requires a lot of effort. The search for senior-level executives is especially important and naturally will take more time and effort than replacing an entry-level candidate. Executives at the highest levels can make or break a company. Hiring an executive search firm will speed up the time it takes to find and hire your next senior-level executive without compromising the quality of the candidate.
Contact the Expert Recruiters at The Bradley Group Today
Whether you are replacing an under-performing senior executive still in the role, or just created a new senior executive role for your company, retaining an executive search firm could be the answer. Contact us to see what The Bradley Group can do for you!