Every company needs fast hiring of suitable candidates for higher posts, like; executives of a company. But it’s become quite difficult to find the perfect match for this post. Because sometimes a company needs their recruitment on urgent basis. So, the best solution to this problem is to hire Executive Search Firms.
Are you curious about these Executive Search Firms? If yes, let’s discuss these executive hiring firms. Basically, these are head-hunter recruitment services. These are associated with several companies. The sole purpose of these firms is to extract highly qualified candidates for executive positions. On the other hand, these firms help highly educated job seekers to find skilled jobs.
These executive hiring agencies act as the middleman between a company and a job seeker. They extract the best candidates from their employee’s hub. Check their profiles. Send their resumes selectively to the client company. And in the end, conduct interviews for the final selection of executives. Apart from hiring executives, these agencies sometimes act as recruiting consultants.
Pros and cons of Executive Search Firms:
Most people avoid these executive hiring agencies due to various misconceptions. But this cannot always be true. Because hiring these firms to provide you several advantages. It means that these agencies carry both pros and cons. So, let’s discuss them briefly.
One of the major advantages of the Executive Search Firms is the fast hiring of executives. As the sole purpose of these firms is recruitment. So, they keep on seeking eligible candidates. Through their continuous screening of employees, they have their own pool of candidates. Whenever a company confirms its job vacancies, they begin to shortlisted the candidates. And provide suitable executives in a short period. Moreover, it saves time and energy for a company.
Highly qualified search:
The second major advantage of Executive Search Firms is their highly qualified search for executives. Obviously, a company cannot compromise on the quality of candidates. As one bad hired employee can disturb the whole company. That’s why these firms specifically target the best and skilled candidates for executives. Because a good search firm can understand the needs and requirements of a company. Moreover, their hiring process reduces the selection bias.
Guarantee of candidates:
Another major advantage of these firms is the guaranteed time of newly hired candidates. The guarantee period may start from 30 to 90 days. But if a candidate resigns before the guarantee period, the firm refunds its fee. And allocate new eligible candidates for that position.
As everything has both positive and negative aspects. Likewise, these search firms also have some cons. Owing to these, various companies avoid hiring these agencies. Let’s have a brief look at them.
Require heavy cost:
One of the biggest drawbacks of Executive Search Firms is their high rates. These search firms are not cheap. They demand some amount before dealing with any company. Moreover, they also reduce money from the monthly salaries of executives. It depends upon the percentage of salary. Usually, they deduct 15 to 30% of the yearly income of any employee. Furthermore, the order for high posts requires more fees.
Unavailability of a good firm:
Another major disadvantage of Executive Search Firms is the unavailability of a good firm. Because in the pace of competition, there are thousands of search firms. Every agency claims to be the best one. That’s why it becomes quite tough to find an award-winning search firm. As one wrong hired firm can lead towards unskilled candidates. It’s just as difficult as finding and hiring new staff.
Loss of control:
The third major disadvantage of these firms is that you lose control of everything. Let’s take an example that suits both a candidate and a company. According to the traditional method of recruitment, a company itself involves in the process. But after hiring Executive Search Firms, it becomes unable to participate in the job posting. It cannot involve searching candidates, conducting interviews, and selecting the final ones. Instead of, the company has to show its blind trust in the search firms. The only thing that you can do is to ensure the agency. It must be beneficial for a company as well as new job seekers.