Today, companies have a variety of methods of filling executive positions. They can use social media such as LinkedIn and Twitter, internal sourcing, employee referrals, word of mouth or viral recruiting, company website, job boards, newspaper ads and trade publication ads. I am sure I have not exhausted the list of options.
Why would a company want to execute a retained executive search with a Third party firm?
The bottom line is that the final candidate who ends up winning the position has truly been a “survivor of the fittest.” This winning candidate has participated and won a severe due diligence process by being the best candidate and best cultural fit of 250-300 candidates. That is a ton of competition!
Here are just a few examples of “A” hires that have made a huge difference with their respective companies that have been hired through my search practice and have survived the rugged executive search process:
- Lorne Hurov, Managing Director of Real Estate & Facilities, TD Ameritrade. Loren has been with TD Ameritrade since 2006 and has been on the point with developing the new TD Ameritrade headquarters & campus in Omaha and is also developing numerous LEED projects for their major sites and retail branches
- Lisa Back, CFO, Velocity Credit Union. Lisa has been with Velocity since 2008 and led an operational efficiency project that has resulted in a reduction in budgeted net operating expenses of 11% in the current year and a projected reduction of 17% for 2014
- John Orton, CFO, Amplify Credit Union. John has been with Amplify since 2006 and he has helped lead his company to record annual profits in 2011 and again in 2012
- Jim Hummer, Sr VP & Chief Quality Officer, Pearson Assessment & Information Group. Jim has been with Pearson since 2006 he has established global efficacy and quality programs for K-12 educational products and services and has improved operational efficiencies across multiple-state educational assessment programs
The retained executive search process sources and recommends long-term, “A” candidates who not only add value to your business but can transform your company. This “survival of the fittest” due diligence process weeds out the “B” and “C” candidates for you.
Companies that are not using retained executive search partners are running the risk of making offers to good candidates but not great candidates. Can you afford this in the long term?