Filling a hole in your executive leadership team differs from solving every other problem in your company. Fortunately, an executive search firm can help—as long as you hire the right one. Ask these eight questions to hire an executive search firm that will find your perfect candidate—one who will lead your organization to new heights for years to come.
1. Do They Specialize in Executive Hires?
Each executive search firm you interview will have experience at different levels of leadership. For example, contingency firms often focus on mid- or low-level management, while a retained executive search firm specializes in C-suite positions.
How do you know these specialists are the ones for you? Here are a few ways to find out.
- Look at reviews from previous customers. What level of management did the firm find for satisfied customers? Which reviews are from companies in similar industries as yours? Or from those that have similar styles or manpower dynamics?
- Read the mission statement and company values. Does the search firm prioritize the kind of leader you are looking for?
- Find any articles published by or about the search firm. What is their hiring specialty? How do they compare to other options you are considering?
- Schedule a meeting. You can tell a lot about a search firm by talking to them in person or online. Ask about their experience with companies similar to yours and with other executive hires. For example, if you are interviewing healthcare executive recruiters about filling your hospital’s CEO position, ask about their process for finding aligned candidates for hospitals in the past.
2. Do They Customize the Search to Your Needs?
If you are searching for an executive like a COO or a VP to complete your leadership team, that comes with basic expectations for the position. But you also have hopes for what your new hire will do for your company. An excellent executive search firm will help you dig deep to define your hopes and goals. They may do this through informal interviews, surveys, assessments, or other methods.
Your needs go beyond a job description, so the ideal executive search firm will help you get crystal clear on exactly what you need before they start collecting resumes.
3. Do They Target Passive Applicants?
The perfect candidate for your leadership team might be looking for a new position when you have a role to fill. However, there’s also a chance that they’re already employed elsewhere but might be willing to move for the right job. You want an executive search firm that can find these passive candidates.
You may feel uneasy about a recruitment firm contacting passive applicants. We get it. You don’t want the executive search firm you hire to risk your reputation or your company’s credibility. You don’t want to be viewed as a company that poaches other companies’ employees. You need a discreet and strategic approach from your recruiter. Make sure the firm you hire will protect your company’s confidentiality appropriately.
4. How Do They Get Paid?
A lot of firms work on contingency fees, where they get paid when they place a candidate, but this encourages recruiters to rush through the process. Consider hiring a retained executive search firm that charges a flat fee upfront, backed by a guarantee.
Because these recruiters aren’t hustling to get paid as soon as possible, they often take the time to explore your culture and find you the perfect match, rather than just tossing resumes at you and sealing the deal as fast as possible.
5. Do They Thoroughly Vet Candidates?
The right recruiter should go beyond the resume as they vet candidates. Ask these questions to ensure the firm’s vetting process identifies the best candidates to fit your unique business.
- Do they speak with the candidates early in the process? This is a good indicator that they don’t just rely on applicant-provided data but on their own research. Look for an executive search firm that directly assesses candidates early and more than once.
- Do they learn about the candidate’s passions and values? You are hiring a person, not a robot. The executive search firm should discover the human behind the application and determine if their passions and values align with your company culture.
- Do they analyze the candidate’s mindset and behaviors? Beyond crafting meaningful interview questions, an executive search firm familiar with assessments like the Kolbe Index or TTI Talent Insights proves it knows how to find a qualified candidate.
- Do they openly communicate with you about the vetting process? You want a firm that does the heavy lifting for you, but not so much that they don’t loop you in on the process. Find out when and how they will involve you in the vetting process. The ideal firm will provide you with information through regular updates and schedule collaborative meetings for your feedback. Make sure you’re getting adequate say in the final hiring decision.
6. Do They Suggest Personalized Offers?
A competitive offer for your perfect candidate goes beyond a generous salary. For example, the applicant may have reservations about relocating because of the cost of living differences or the availability of quality schools for children. The compensation package may include things like cost-of-living adjustments, school tuition, paid/unpaid time off of work, healthcare, bonuses, stock options, retirement plans, severance packages, etc. Look for an executive search firm that can suggest benefits and compensation packages personalized to the applicant.
7. Do They Offer Post-Hiring Support?
A high-quality executive search firm offers support to you and your new hire after the offer has been accepted and even after the onboarding process. The majority of executives leave their positions in less than two years. To minimize turnover, look for an executive search firm that stays engaged with frequent check-ins over the course of six months or more.
8. Do They Guarantee Their Work?
You would expect a warranty when you purchase a new washing machine. A new hire at the executive level is only different because it requires a lot more money and time than a broken washing machine.
A hiring change at senior management levels costs the company an average of $1 million. A company’s stability and reputation can suffer for years after a leadership turnover. Find a firm that protects your time and money as much as you would your new appliance. An executive hiring firm with a guarantee understands its impact on your company and holds itself accountable for success.
Hire Confidently
Asking the right questions before hiring an executive search firm will save you a lot of frustration and money. Even better, a firm that checks the boxes in all eight areas will provide reliable and excellent options so you can hire the right candidate to help your organization thrive.
