Assessing a Search Firm by Expertise and Experience
When a leadership transition occurs in an organization, one of the first steps in the process is to explore the possibility of utilizing an executive...
When a leadership transition occurs in an organization, one of the first steps in the process is to explore the possibility of utilizing an executive search firm to lead the search for the departing executive’s successor. This includes the assessment and evaluation of possible firms. A search firm with strong industry experience, a robust network of professional contacts, and a history of successful executive placements will ultimately lead to a slate of highly qualified candidates for the client organization’s consideration. This process offers a high return on investment for organizations; an effective leader is an invaluable resource when it comes to operational and financial success. This is particularly true for WittKieffer. While our clients realize a high ROI on their direct recruitment costs, we are most proud of the return that our placements deliver to their respective organizations, employees, and the communities they serve.
Organizations may notify search firms of their intention to retain a firm in a multitude of ways, whether through a formal Request for Proposal, an informal invitation to submit proposals, or via professional networks. No matter the process, there are several qualities to consider when evaluating search firms for your organization’s needs, including the following.
Demonstrated success in executive search: Reputable search firms will be able to share their success stories to illustrate how their search process leads to a strong placement for their clients. A successful search however, does not stop at candidate placement. Placement tenure is a critical measurement of ultimate success for each search. A candidate who remains in place for several years offers stability to the organization and has an increased opportunity to make a strong, positive impact. Long tenured placements demonstrate an executive search firm’s ability to evaluate and appreciate an organization’s culture, mission, and operational goals and recruit candidates who have a strong institutional fit and a personal mission that aligns with that of the organization.
A strong history in your industry: When recruiting top candidates for industries such as healthcare, higher education, or not-for-profit, experience is key. Shaping a diverse network of candidates and professional contacts takes years of experience to build trusting and collaborative relationships. Well established search firms have witnessed the evolution of the industries they serve, not only through executive search services, but also through their engagement with industry leaders at conferences and networking events. Their consultants are considered experts in their field, contributing thought leadership to industry publications and serving on governing boards of industry organizations. As industries evolve, these firms have the strongest foundation on which to predict successful leadership for the future.
Evidence of client and candidate satisfaction: The most experienced executive search firms understand that they are an extension of the clients they serve. The way in which candidates view an experience with search consultants ultimately affects how they view the client organization as a whole. When evaluating a firm for a potential search, there should be evidence of a quality control process to ensure a high level of satisfaction among all individuals involved in a search process. While this level of quality assurance confirms a successful search, it is also a way to mediate any issues and continue to improve the process for future searches. The importance of client and candidate satisfaction cannot be understated; oftentimes the search consultant is the first interaction a candidate will have with a client organization, not only setting the tone for the search experience, but also defining the individual’s experience with the organization.
Regional, national, and global reach: Years of experience, a network of contacts, and a trusted process all lead to a critical aspect of an executive search firm: The depth and breadth of their reach across the industries they serve. As more businesses have the ability to go global, we are in fact becoming a global society. It is imperative for a search firm to understand each client as it relates to the region it serves as well as its contributions to the larger national and global society. Additionally, a broader network leads to a greater access to talented candidates. Firms with limited reach cannot produce the same stellar candidates as a firm with a strong reputation across markets. This is where a firm differentiates itself, finding those up-and-comers, the change makers that are prepared to disrupt an industry and lead an organization into the future. The ability to source and place these candidates is one of the most important attributes of a successful executive search firm.
As your organization considers partnering with a search firm for your next leadership transition, it will be helpful to keep these qualities in mind, while also considering the unique needs of your organization. Priorities will shift from search to search, but experience and expertise will always be an essential trait for your search firm partner.
If you would like more information on our firm and how we would work to address your leadership needs, please click here to speak to one of our practice leaders.
Related News
