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What is an executive search firm and how do they work?

An executive search firm is an external, specialized recruitment service provided to find and introduce highly qualified candidates to organizations hiring for senior-level and executive roles.

Executive search firms search for top talent within the industry with the desired qualifications and experience to successfully fill a senior-level position.

By acquiring an executive search firm, businesses can meet with a pool of talent that meets their needs and requirements, as in most cases, the successful candidate is not an active job seeker.

How do executive search firms work?

To begin, organizations will need to reach out to an executive search firm and grant them the rights to work on the placement.

Executive search firms tend to work on a retainer agreement basis which means the customer must pay in advance to secure the services when they are required.

Find an exact candidate match for the role

A recruiter will find suitable candidates for the role that an organization is looking to fill. On the other hand, an executive search firm will search for and provide the organization with an exact match for the role based on its set requirements.

Executive search firms have access to the top candidates so the hiring companies can trust that the executive agency will provide them with the very best service and introduce them to industry-leading figures.

Recruit from a pool of passive candidates

Passive candidates are the name used for anybody that is being considered for a role that they did not actively apply or search for. Most successful candidates found by an executive search firm are not active job seekers at the time they were approached by the agency.

By tapping into an otherwise inaccessible pool of candidates, executive search firms aim to find the perfect match for the job and organization whether the candidate is actively searching for work or not. They are able to reach more candidates and have a better chance of finding a new starter who meets the requirements.

Fill senior and specialist roles

Executive search firm agencies tend to find management staff or C-suite level roles. This includes hiring CEOs, managing directors, operations directors, finance directors, and area managers.

With exceptional knowledge surrounding the job market, hiring an executive search firm reduces the risk of a bad hire and the search time to find a hire.

It is worth noting that due to their industry expertise, executive search firms tend to be more expensive than regular recruitment firms due to the intensity and specification of their role.

If you’re interested in learning more about executive search firms and looking to start your career as a Talent Acquisition Specialist, apply here.