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As a recruiter what methods do you use to hire staff? Ever wondered if the same methods would be effective enough in executive search? The short answer, no. You cannot use the same methods. Executive search by itself uses unique techniques, engages unique set of candidates. In this blog, we will see the differences between executive search and recruitment and emphasize why companies must opt for executive search when they have the choice.
What is Recruitment?
Recruitment involves everything from the sourcing of an employee to their final onboarding in the company. A recruiter can operate in both non-IT and IT domains. Generally, bigger companies avail the services of a recruitment agency to address their needs in recruitment. The recruitment agency might handle all stages of the recruitment process or handle it partially.
What is Executive Search?
The process of hiring suitable employees for leadership roles in a company is referred to as executive search. Executive search is one of the highly regarded and most important roles of an HR team. Executive search consultants help companies achieve their business goals, achieve a positive work culture and maintain business continuity by hiring suitable leaders.
5 Key Differences Between Executive Search and Recruitment
1. Role differences
Recruitment helps hire suitable candidates for the roles of staff, supervisors and middle management. Executive search helps hire suitable candidates for executive roles, such as CEO, CTO, CFO, CXO etc. The roles are different and therefore the skills expected of the candidates would also be different. When hiring for senior leadership roles, for instance, EQ is just as important as IQ.
2. Expertise levels
Recruitment, when handled by a recruitment agency, involves several categories. Executive search is usually listed as a special service under recruitment services offered by an HR services company. The HR services company will have a dedicated and expert technical team for executive search. They will have several years of experience placing leaders in companies, essentially transforming companies, and redefining the business landscape.
3. Roles are less critical
Recruitment generally addresses a short-term immediate need, that of hiring for less critical roles, but executive search addresses a more long-term need, unless the search is for an interim leader. Even though this is the case, the role is still of a critical nature.
4. Time to hire
Executive search firms generally devote more time and extensive research to the search process. They would be doing a lot of reference checks, market mapping and possibly even behavioral analysis trying to identify the right candidate. Recruitment, on the other hand, has a much larger talent pool and a less focused talent pipeline.
5. Fee
Recruiters generally charge a fixed fee for their services and specify a timeframe in which they would be able to find the required candidates. Since executive search involves hiring for critical leadership roles, it generally takes more time, requires extensive research and has longer discussions with the employer, which could entail a much higher fee.
Why Do You Need a Top Executive Search Firm?
A great leader stands for the business he leads and gives the direction it needs. He also leads, by example, communicating how people in the company must work and conduct themselves. A top executive search firm will be highly specialized in the recruitment of capable leaders through original research, data analysis, much discussion and a battery of tests, if needed.
Alp Can Be Your Executive Search Partner
Looking to hire your next leader? Partnering with Alp will give your vision wings and help you find the best leaders in your business domain. If you are looking for clarity of thought and great experience in executive search, backed by over a decade of experience, you might have just picked the right partner by visiting our page. Talk to us today!
Frequently Asked Questions
1. What is the process of recruitment in executive search?
The process of recruitment in executive search involves several steps. It starts with establishing the search priorities and coming up with a search strategy. This is the most important part of executive search and what sets it apart from Then the process of attracting the right candidates begins, followed by interviewing and hiring.
2. Is there a demand for executive recruitment?
Yes, there is growing demand for executive recruitment as more and more companies are today convinced that a great leader can make a difference to the company culture, even define the company’s vision and probably even restructure the hiring process itself. India’s executive search is growing at the rate of 15-20% YoY and many global search firms are involved in the process.
3. How to Hire a Top Executive Search Firm?
Discuss your business needs in detail with an executive search firm. Be sure that you have a dedicated team working with you to find the right person for the leadership role. Discuss your budget and time frame if you have any too and arrive at the best executive search firm.
