8 Benefits of Embedding Executive Search in Your Hiring Strategy
Don’t Wait – Reach Out
You’ve decided against implementing executive search into your hiring strategy. You think it’s costly, and you can fill your vacancies without it. But are you missing out?
A LinkedIn report reveals that 70% of the global workforce is made up of passive talent – skilled professionals who aren’t looking for a new role. That’s a huge ocean of potential you’re not approaching.
Here’s the big number: 87% of the global workforce would consider a new opportunity if they were approached. With a skills shortage threatening your company’s ability to make a stance against your competitors, it would be a mad move to sit and wait for the best tech professionals to fall into your lap.
Here, you’ll learn eight benefits of an executive search, so that you don’t get left behind.
#1: Leave No Stone Unturned
Simply posting a vacancy on a job board means you’re immediately eliminating 70% of the global workforce from your reach. The best people for the role are often already successful in their current role, and most likely well looked after by their employers.
An executive search takes time, effort, resources, and dedication, which deters companies from investing in doing so. By hiring an executive search agency, you’ll mine the top-ranking candidates you need and reap the benefits long into the future.
#2: Reduces Hiring Process
An executive search uses laser focus that culls the process of sorting through unqualified candidates who have simply applied and hoped for the best. According to Monster, 50% of candidates lie on their resume.
With an executive search, you’ll interview only the best – and save on time-consuming and costly hiring processes.
#3: Finds the Skills in a Shortage
Tech skills available are struggling to meet demand. An executive search searches only for the skills your company needs in the face of a talent shortage, and dedicates resources to that skillset specifically.
#4: Guidance for Newly Created Roles
Particularly for startups or growing organizations, newly created roles require unfamiliar approaches in management. You may not know what to look for, or how to compensate such skills.
An executive search agency can provide professional advice and guidance on who you should be looking for, where to find them, and how to attract them to the role on offer.
An executive search keeps a vacancy confidential. Having a vacancy broadcast can be very damaging to your current workforce. You may have decided to let go of someone still in situ, or you may be making a business move that requires confidentiality.
An executive search finds the skills you need, without declaring online that you’re looking.
#6: Fills Vacant Positions Quickly
Unfilled IT jobs in the U.S. cost employers $20.1 billion. Some employers make the mistake of believing a vacant role saves on labor costs. But that gap in your team will destroy productivity.
Your remaining workforce will be left to pick up the pieces in lost skills and manpower. They suffer burnout, and leave for better supported roles. Your company suffers attrition and hiring and training costs.
An executive search nurtures passive candidates. This results in a honed hiring process that never waits for vacancies, but prepares for them.
#7: Improves Employer Brand
Your staff are well supported, with the skills and numbers required to meet deadlines and oversee projects successfully. Your team in turn are loyal to your culture – a highly appealing attraction to passive candidates.
Through executive search, you’ll also avoid regular appearances on job boards – a detrimental image that displays high employee turnover and desperation for staff.
#8: Reduces Costs
Through executive search, you’ll hire people with the right skills and qualities for the role and your company culture. This results in long-standing careers, where employees feel well-suited and highly capable of their position – an environment in which they thrive. Hiring costs are reduced through staff retention, as are training costs of new and underqualified candidates.
Gain Expertise in Executive Search Services
Don’t make the mistake of weighing your company down through lack of skills and an overburdened hiring process. Partnering with experienced executive search professionals will help you find the talent you need.
Here at Irvine Technology, we operate as an entire ecosystem of experts. We have nurtured our talent pool, and we know how to detect the skills you need for your business to excel. We offer a wide variety of services to fit your specific needs.
Contact Irvine Tech today and discover what makes our executive search services unique.