6 Reasons Why You Need a Retained Executive Search Firm

When you make a C-suite hire, the winning candidate can make or break the productivity and profit potential of your company. Finding qualified talent that’s a seamless fit for your business takes time and nuance. It also involves more than a job board and a limited network. Instead of reinventing the wheel or figuring it out as you go, a retained executive search firm creates a productive and action-focused hiring process to find you a pool of talented candidates from the start.

Take the next steps by learning more about search firms and how they can dramatically benefit your search.

1. You Gain Access to a Broader Network of Candidates

Your retained executive search firm should come with established contacts and be proactive about expanding their reach to find the best candidates for your position. In today’s hiring climate, high-quality candidates are scarce and aren’t necessarily broadcasting that they’re looking for work. Instead, they’re spreading the word through their networks or working with a select group of executive search professionals to tap new opportunities. 

Executive positions also aren’t announced on job boards and are usually handled through search firms. These firms look for outstanding talent and will target those prospects accordingly. Instead of functioning as mere job fulfillment, retained executive search firms are looking for strategic, highly qualified candidates from the largest and most talented pool of possible candidates. 

world network - executive search firm - John Joseph Partners

2. Your Candidate Needs a Unique, Specific Skillset

Hiring key executives with unique skill sets isn’t just a wish list item; it’s a must-have to find the best fit for your company and role. When a team member with rare experience and skills leaves a company, it can derail production, plummet company morale, and negatively impact your bottom line. 

Executive search firms are skilled in identifying rare skill sets and sourcing hard-to-find candidates. But a retained firm can also help keep a pool of potential candidates warm to quickly step in and find solutions when key players leave your company.

3. You’re Lacking the In-House Resources

It’s not unusual for companies to take six months to a year to fill an executive role. It’s all-consuming to spend hours sourcing, interviewing, and networking with candidates. Yes, your HR department is a valuable resource during the hiring process, but can’t necessarily devote the time for an executive search while also dealing with employee hires and internal office needs and issues. 

Here’s where retained executive search firms come into the picture: They work as your partner while freeing up your time and resources. These firms are skilled at finding active and passive candidates faster than on your own, especially when your company faces a time crunch to fill the role.

4. You Don’t Have Executive Search Experience

Not every business needs a firm to source executives for them, but it’s not practical if you don’t have the experience. Executives aren’t typically out in the field looking, as jobs are usually hidden in the market and they rely on their network for the best leads.

Companies need passionate, action-oriented executives, visionaries, and flexibility in taking calculated risks. Those qualities aren’t always easy to assess or identify by navigating LinkedIn or your Rolodex of candidates. Instead, executives are building their networks and working with recruiters who understand they need a great fit with a company that utilizes their talents and understands there’s more to hiring than looking at resumes. Retained search firms can quickly identify the traits, characteristics, and experience you’re looking for without a learning curve.

Job Diversity - retained executive search firm - John Joseph Partners

5. You’re Looking for Long-Term Talent

Hiring long-term executives is also about seeing the potential and not just the current skillset. It’s also essential to understand where the candidate is coming into the role. What part of the journey are they in their career? They may not stay long-term if they’re new to C-level roles or mid-way through their journey and want to get more aggressive with career climbing.

A retained executive search helps determine the best candidate fit while aligning with your company goals. They’re looking at several faces of who to hire, not just who will say the longest. If you’re a start-up or looking to grow aggressively, your idea of a long-term candidate may vary significantly from an established company looking for more stability. 

6. You Need Confidentiality

Search firms respect your company’s position and leadership and understand how to navigate accordingly. Searching for executive roles usually requires confidentiality and professionalism, especially if you’re replacing someone still working at the company. Other searches need confidentiality if a company is about to go through a merger or holding back on a public announcement about changes.

Next Steps

Executive Coaching is so much more than a leadership tool; it can impact your entire company from the top down for growth and transformation change. If you’re ready to get the support you need for yourself or your C-level executives and management teams, we can help. John Joseph Partners allows companies and executives to grow to their full potential as your trusted Executive Search Firm. Contact us today for more information.