When might an executive search firm be used?

If you haven’t used executive search before, or in a business that has never used executive search before, deciding to partner with an executive search firm can be daunting.  How can you be sure is working with an executive search firm is worth it? Given this, when might a business use an executive search firm? How does a partnership with a search firm benefit my business in these cases?

Top 4 Reasons Businesses use an executive search firm

Here are the top reasons my clients state why they use an executive search firm.

Offload the burden of the task

Executive search is a long process.  Most C-level roles take, on average, around 75 days to go to an offer with a chosen candidate.  Depending on the size of your business and business goals, you may need to hire multiple leaders simultaneously.  Can your leadership afford to sacrifice their focus on their day-to-day tasks leading the business to find a wide range of suitable candidates?  Most likely not. 

Outsourcing the work to a search firm brings knowledge & expertise to the process of your search.  This allows you to find a wider range of talent faster while enabling your leaders to focus on leading your business.  I  talk about this in-depth in my blog: What does an executive search firms do? Check it out if you want to learn more!

Get expert guidance & a global network

I have 25+ yrs of experience in executive search, and the team at Boyden has offices in over 45+ countries, with consultants who are specialists in many regional and global niche businesses.  A partnership with a search firm gives you access to a worldwide network of search partners to build search teams at a moment’s notice.

The secret to scalability in your business may lie in your established relationship with a search firm, enabling your company to grow 10-1000 % larger each year.

Build whole leadership teams 

Many of my clients are businesses from EMEA looking to develop whole business units in North America. This means they don’t just need a CEO or CTO. They need a whole leadership team of 3-12 people, including CEO, CMO, CHRO, presidents,  VP of sales, VP of marketing, VP of HR, and more.

Assembling an internal team to do this temporary task is not logical, so businesses partner with executive search firms to build a search team as big as required to achieve their needs.  Most companies maintain an ongoing relationship with their search firms.  The more they get to know each other, the better the results of the search projects.  After several assignments, your search partner knows when someone will fit culturally within your organization.  Depending on your requirements, your search partner can scale up or shrink the team quickly.   The depth and reach of an international firm can help expand a business into another continent or country.

Do a confidential search

8% of the searches I have conducted have been confidential executive searches. What is a confidential executive search? It is the process of replacing an underperforming incumbent executive or senior manager, without them being made aware it’s happening. The process takes, on average, around 75 days to replace a leader.  It’s best to start this process ahead of time, keeping the current leader while you find a replacement.  As long as the leader is not toxic, allowing them to continue their duties while you look for an alternative may be less damaging to your operations.

Due to the demanding nature of the search process, doing this without the aid of an executive search firm is very difficult, and keeping it a secret is even more challenging. As a result, working with a search partner enables your staff to concentrate on their daily activities while search consultants identify a large pool of qualified applicants. As a result, the transition is much easier.

If you are not sure if working with an executive search firm is right for your business, I have a questionnaire to see how an executive search firm could benefit your business. Alternatively, please contact me, and I will connect you to the best search consultants for your unique business needs.