The 4 Benefits of Using an Executive Search Firm

Written by Technology Magazine on December 10, 2017. Posted in Life sciences recruiter, Project management, Sales manager

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Turnover is hard on businesses across the United States. There are a lot of reasons for this. The act of merely finding people to interview, for all positions at a company, has gotten harder and harder over the years. In 2013, 71% of respondents to a survey about this reported that they have a hard time finding qualified people to fill openings. Hiring the wrong person for a job can be disastrous. Businesses who retained executive recruiters had a much better time with the experience.

Here are some reasons to consider using recruitment services:

  1. It is a very cost effective way to hire new high level personnel. It takes a lot of time to hire the right person, for just about every position in your company. The higher up on the latter the opening is, the harder it will be to find the right person to put into that position. Think about it, you have to write the description of the position that is available, you have to find the right places to put your ad, weed through all of the applications and then set on interviewing candidates. Just thinking about all of that can be exhausting. Plus your time is valuable. As they say, “time is money.” All that time you spend looking for the right person to hire, is money you are losing. When you have an executive recruiting services firm working for you, all that time can be spent on your business, saving you money.
  2. Companies that retained executive recruiters have a lower turnover rate. The last thing you need to do is go through the process of finding and hiring a new person only to have it not work out. That puts you back to square one, and no one likes that. One of the best ways to hire a person who is a good fit for your company and the position is to have a tracking system in place to have information on people who have already applied to the company. This should include their social media accounts. Most businesses do not have this set up but all executive search service. Because they know the people they are recommending, they can send you prospects who will stay and will be a good fit for you.
  3. You can keep doing what you are good at and leave the hiring to the professionals. Unless you work for a recruiting company, your skill set and training is probably not in hiring new people. You did not go into your business to spend your days reading through resumes. That is where retained executive recruiters come in. They have the experience in writing ads, reading cover letters and resumes and talking to applicants. They know what to look for and what red flags might be out there to give pause when it comes to some people who may look great for the job but who are not going to work out.
  4. It takes less time to fire a new executive. Retained executive recruiters take less time to hire a new person. It can take months to talk to all the people who apply to your company. It can take even longer to weed out the best candidates, interview them and then hire someone. The time it takes to do all of that is drastically reduced when you have experts doing the hiring. On average it took, 32 days for companies with retained executive recruiters to hire someone.

When you are looking to hire a person for your company, there are a lot of variables that you have to take into consideration. To start, you really need to spend some time thinking about what you need and what skill set you are looking for. That can be hard enough but then wading through all of the responses can seem endless. Many companies and non-profit organizations make the assumption that handling all hiring in house is the more cost effective and simple way to go but it is not. Retained executive recruiters can make the entire process, from developing a list of what you need, or offering the right person a position, much easier, faster and cheaper. It makes sense.

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