Business

Secret unveiled: how executive search firms help companies to hire a new executive

Not so long ago, the CEO of Amazon, Jeff Bezos, announced his retirement. Amazon is a well known brand, and fans might have thought about how Bezos will hire the right guy for his multi Billion dollar empire.

The answer is simple; he might have sought help from an executive search firm. These businesses’ whole sole job is to help corporations hire new executives.

This is how they do it:

  1. Learning what kind of talent is required:

You can’t just start going through various executive profiles and shortlist candidates. Every company has some expectations. Some corporations require young talent, ready to take risks. While on the other hand, other corporations may require an experienced executive. It is really important to understand the client’s needs before the hunt. 

2. Searching from the pool:

After going through the client brief, the hunt begins. The firm uses every available means to shortlist candidates. This means that the recruitment team stalks every LinkedIn profile. The team goes through the about us section or the CEO message page of various website companies. Going through several professional Facebook groups is also part of the process.

3. Ensuring the credibility of the shortlisted candidates:

No one wants to hire a fraud or a fake degree holder. This is why proper research is carried out before sending the shortlisted candidates to the client. The research includes a thorough background check. Verification of police records. An on-call discussion with their previous workplaces. Checking their digital footprint might be part of the research too.

4. Describing the job to potential candidates:

Candidates need to know what they are getting themselves into. In other words, they should know about their job. To facilitate candidates, a proper job description is prepared. It includes the role of the post. The expectation that employers will have. The salary. The authorities the post will grant. Other minute details like offered benefits, health insurance details are included in it too.

5. The meet and greet session:

Every possible measure has been taken to ensure that the right candidates are chosen. Now, the executive research firm acts as a bridge. They schedule a meeting between the client and the potential candidates. In some cases, the firm advises candidates to approach the company on their own. However, this depends on the candidate’s case.

6. The cutting down process:

Obviously, a company can’t hire everyone from the shortlisted candidates. They have to select one, two, three, or four candidates. In other words, they have to shortlist as per their need. The firm doesn’t have a much active role in this process. They are expected to provide the requested information or fulfill other needs.

7. It is time for the talks:

 A lucky guy has been shortlisted from a huge pool of candidates. Now he has to sit with the firm and the company to discuss his salary. In this part, the firm is just here to present any previous record if required. Obviously, the company’s representative will do the whole talking. The candidate’s salary will be withdrawn from the company’s account.

8. The start of formalities:

Finally! After a lengthy process, the right candidate has been shortlisted. Next up! Is the completion of formalities. The candidate is required to submit his official documents. The list can include his bank account details, social id, photographs, etc. An experience letter and a leaving certificate can also be demanded. The documents have to be recent and up to date.

The above-explained gives you an insight into the dealing between the firm and the company. The process tells how the team responds when the client asks for an update. How do the companies are presented with their options?

Conclusion

Coming to the candidate and the firm dealing. There is a little difference. The potential candidates receive calls if they are shortlisted. Candidates only get to know about the company’s requirements . The conversation between different parties remains confidential. You know why they won’t. This move will negatively affect their integrity. No one wants to have a bad reputation in the business, right??

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