Hiring for almost any role in your business can be along and arduous process, but nothing compares to how difficult the recruitment cycle can be when looking to hire an experienced executive for your organization. Considering how in demand executives can be, your role could be open for far longer than is good for your business—so it should be your priority to recruit new talent as quickly as possible without making a costly hiring mistake.
When partnering with an executive recruitment agency, you can feel confident that your executive job vacancies will be handled with the knowledge and care of experts. Here are just four of the many benefits of partnering with an executive recruitment agency, and how they can help you land the best qualified candidate.
1. They Know the Hiring Market
One of the most difficult aspects of hiring senior staff is knowing how to best attract them to your business. This includes factors like how much compensation you should offer them, what benefits fit the position, and how much flexibility their position allows. If your offers aren’t up to par, there’s a chance that your ideal candidate will pass you up in favour of your competitors.
When you partner with an executive recruitment agency, all of this uncertainty is eliminated, as their expertise in the hiring market helps you appeal to your candidates. This market-specific knowledge means that they’re mindful of hiring trends in your industry, appropriate salary levels, competitive benefits, and more—giving you the opportunity to focus on running your business.
2. Avoid Costly Hiring Decisions
Have you ever thought about how much a bad hire actually costs your business? There’s certainly an investment lost: if you have to hire a new candidate only a year after making your most recent hire, that’s a year of training, onboarding, and resourceswasted. Not only that, but on average,a bad hire costs businesses up to thirty percent of the employee’s first year earnings. When this bad hire is an executive position, this can amount to painful monetary losses and poor company morale.
With an executive recruitment agency, you’ll only be partnered with the best of the best. Recruitment agencies only work with the top percentile of candidates, so your chances of making a poor hiring decision is significantly less than if you attempted to hire on your own.
3. Save Time and Money
There’s no denying that filling your executive positions can be a significant drain on your time and resources. The entire process—from sorting through and screening applications to conducting interviews—can take two or three months, or more, if done thoroughly enough, which is more time than any employer can afford.
Executive recruitment agencies have tools and expertise that make the hiring process more streamlined and efficient, cutting down on logistics and allowing you to focus your efforts on ensuring that your candidates are the right fit for your company.
4. Gain Access to Passive Candidates
On the whole, passive candidates are ideal candidates for executive roles. They are experienced, have the skills to excel at the position, and are proven to be business savvy enough to succeed. Unfortunately, these model experts are often inaccessible for most employers, making them nothing but a pipe dream.
With an executive recruitment agency, passive candidates can be your reality. They have direct connections with top professionals across many different organizations, and know exactly what it will take to win them over to your team. By successfully recruiting a passive candidate, your business can get back to work quickly and productively.