Five Indicators that You Need an Executive Search Partner
Talk about life being a full-circle! I started in recruiting in 1992 and eventually went into executive search running my own business. In 2005, I had a client recruit me to build an internal recruiting function because they were spending millions of dollars every year on external search; and for the last twelve years, in two Fortune 500 companies, I have worked tirelessly to bring recruiting in-house. Now here I am, back in executive search, working to convince CEOs, CHROs, and TA executives why they need a search partner!
In my time at corporate, I learned a lot about the dynamics of search that I otherwise would never have learned from the outside. I understand why most organizations want to avoid external search… e.g. cost avoidance, standardize process, ensure compliance, increase internal movement, execute succession plans, strengthen the employment brand, etc. And while every one of these factors are true and important, there will still be times when you have to have an external search partner.
Here are the “rules” of engagement that I implemented worldwide over 12 years ago with a company that used to leverage recruiters 80% of the time. While we were able to cut $12 million dollars in spend from the annual recruiting budget and reduce use of recruiters to 20%, our leaders still knew exactly when we needed an external search partner and we wasted no time!
Do any ONE of the following apply to you?
1. The Search is Highly Confidential. You have an incumbent in place that you need to top grade, but you cannot afford for that person to find out and exit on their timing versus yours. This can also apply when you want to keep a search quiet in a tight market, recruit from competitor, or source talent from a company (maybe a customer) that you want to keep a good relationship with.
2. Speed is of the Essence. The open position will result is a loss of business or revenue, a failed business deliverable or project, or commercial risk to the business (your lack of delivery causes loss of customers). How long do you think it takes to regain customer confidence?
3. It’s a Needle in a Haystack. Okay, your internal team can probably source the talent, but it will take a very time intensive process and running a ton of referrals to find these special skills, in this niche market because the requisition is really unique. The talent market is hyper-competitive right now, if you have created a “purple squirrel” position and you need an A-player to fulfill the role, it will require grit, grind and many hours to find them. Is this how you want your HR team spending their time?
4. No Boots on the Ground. You and your hiring team are managing the search from afar, you need cultural expertise, someone that knows the market, the customs, and the candidates’ behaviors (where to find them, how they find you, etc.). If your company is expanding in a new market, moving a HQ, or a similar situation, a search partner is of the essence.
5. No Capacity. Your talent acquisition and HR teams are good, maybe even great. They have the capability to do the search, but they are at capacity. I always used to say, the most important thing you need to understand about your talent acquisition team is when they hit capacity! Adding one more requisition to a recruiter at a capacity results in Failure Mode, quality drops, stakeholder relationships diminish, candidates are not managed at the highest standards, and time to fill increases; it’s the worst thing you can do to your internal “recruiting” brand. Don’t mistake capability with capacity, pick up the phone and call your external partner.
If you answered yes to any of the above, then you should give Titan Talent Partners a call today. With over 55 years of combined external executive search and internal corporate leadership expertise, our ability to understand and execute on your specific recruitment needs are second to none. Don’t risk your company’s success over not deploying the right recruitment strategy, let’s us help.