What is an Executive Search Firm?
With national unemployment at record lows and economic uncertainty, top candidates may not be sending in job applications as steadily as they once were. When organizations struggle to fill positions as quickly or as easily as they would like, they often turn to an executive search firm to help them identify and hire the best talent in the market. The origins of Executive recruiting can be traced back to the 1920s. However, they only became common practice in the mid to late 1980s, when organizations recognized the benefit of having a dedicated firm work to fill challenging positions, specifically within the C suite and executive levels.
What are the advantages of using an executive search firm?
Search firms do more for a company than fill a position; they also provide companies with valuable industry-specific insights. For example, our firm focuses on supply chain recruiting. Therefore, we can share extensive industry-related insight, such as compensation ranges for specific positions in geographical locations, where the most significant gaps are within the organization’s supply chain, and what we hear about industry-related challenges. We look not only to be recruiters but partners for our clients; most executive search firms operate with the same mindset.
Successful executive search firms work closely with companies to understand the needs of a specific position, the company’s culture, and the ideal candidate’s background. From there, a firm will reach out to potential candidates in their network to discuss the position and determine if that would be a positive career step for them. In most cases, executive search firms will work with their clients and candidates throughout the entire recruitment process lifecycle, from the search’s inception to the offer and placement process. Typical placement fees for executive search firms range from 20 to 30%; the fee structure is often determined by the search’s complexity, level of position, and relationship with a company.
Choosing the right executive search firm
Whether you are looking for supply chain recruiters or an executive search firm focused within your industry vertical, now is an excellent time to explore that option for your company. With over 5000 search firms in the US, there is a firm out there that can address those specific positions and act as a valuable resource to scale your organization. The Everest Group has been recruiting within the logistics industry for 30 years, placing mid-senior level executives within all functional areas within the supply chain, including Warehouse/Transportation Operations, Human Resources, Industrial Engineering, Business Development, and Information Technology.