Maximize Results With Your Executive Search Consultant
If you are investing the time and financial resources to hire the best candidates, invest the time to maximize the results. A good retained executive search consultant is a business consultant to you.
- Return calls and e-mails promptly.
- Make yourself readily available for interviews.
- Follow up with feedback after candidate interviews within 12-24 hours.
- Share any breaking news about your industry or company as soon as it happens—especially if it impacts the search.
Investing time at the beginning of a retained executive engagement will dramatically improve results. Your retained executive search partner must be able to articulate the opportunity in a compelling manner to attract the very best
candidates.
The initial consultative phase is the most important in executive search engagements. During this phase the search consultant gathers information on the company’s goals, strategies, culture and desired attributes of the ideal candidates. The executive search partner should quickly gain an intimate knowledge of your business and company culture. Finding the right “environmental fit” is equally as important as identifying the optimum candidate. Expectations surrounding the candidates’ backgrounds, experiences, abilities and competencies are discussed in depth along with the desired softer skills. Potential compensation arrangements and related information are also discussed to define the search parameters. Industry segments likely to yield appropriate candidates are identified and reviewed. During this phase it is critical for the search consultant to meet with search committee members and all other relevant stakeholders to gather relevant information.
Based on the initial consultative phase, the search consultant should create a job specification stating what the candidate must accomplish and what attributes you seek: past experience, skills, and personal characteristics. Candidates will see this document, so it is vital that it is able to make a strong case for why your company and this opportunity are truly compelling. It should not simply be a regurgitation of facts about your business. Uncertainty or disagreements on the “must haves” constitute the primary cause of project confusion and delays.
Before your retained executive search professional begins recruiting, make sure they understand your company well enough to do an effective selling job for you.
Define and agree to the process of monitoring the search progress. Many busy executives prefer to streamline communications. cSTONE & ASSOCIATES customizes progress monitoring based on the needs and desires of the client.
Before you interview a candidate, reread the position specification. It clearly identifies both the specific skills and personal characteristics you are seeking in a successful candidate. Prepare your interview questions to focus on the key attributes and experiences you want to explore. If other executives are part of the interview process, divide up the key attributes you wish to explore. Have each executive’s interview focus on a separate attribute. For example, one interview might focus on demonstrated leadership accomplishments. Another could focus on instances in which rapidly adapting to change was vital. Get together later and put the entire picture together.
Reference checking is the executive search firm’s job, but be sure to do some yourself. You should know what this person is like straight from the source. cSTONE & ASSOCIATES can provide services to conduct criminal and background checks.
The executive search consultant will help you as much or as little as you wish in preparing an offer and negotiating to closure. Some clients prefer to handle discussions themselves. Others prefer the search firm serve as an intermediary.
Companies that recruit well consider an offer from the recruit’s perspective. They are creative in putting together win-win offers addressing all necessary components, including base salary, bonus, long-term incentives, consideration for what the candidate might forfeit by walking away from his or her current position (e.g. unvested, in-the-money options) and relocation. It is rare to recruit a high caliber, currently employed executive for a reduction in base salary. Emerging companies will usually have to at least match current cash compensation, with equity upside. Established companies need to provide an increase in base salary.
The search consultant should follow up with both the placed executive and other management to ensure the transition is as smooth as possible. cSTONE & ASSOCIATES offers comprehensive assimilation coaching services. Please see Executive Assimilation.
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