Companies of all sizes have realized that outsourcing at least some of their recruiting functions is often the best way to find the right person for the job. Talented recruiters have the contacts and niche market experience needed to provide a competitive advantage.
Recruiting Trends recently spoke with Joseph Daniel McCool, an advisor to top companies on how to effectively select and engage executive search firms, asking him to share his thoughts on today’s staffing challenges and how companies are working to find innovative solutions.
Finding the Right Person for the Job Isn’t Easy
“One of the biggest mistakes companies make is assuming they already know — or someone in their organization or on their management team knows — the most qualified executive recruiter to tackle their next external search assignment,” McCool said. “Rather than ask the same question about ‘Who do we know?’, corporate leadership teams ought to be asking themselves, ‘Who don’t we know but should?’ right from the start.”
McCool noted that 40% of externally recruited executives fail within 18 months — and even more if they stay on longer, but never achieve their target business goals — so it’s clear that most companies have no idea what they’re doing.
“Executive recruiting is costly enough, but when you consider the costs of a bad executive hire, a disjointed process and the prospect of having to do it all over again within 18 months, it really becomes a drain on employers’ resources —and their patience,” McCool said.
Top Talent is in Demand
McCool emphasized the importance of companies being more concerned about executive search decisions than they’ve been in the past.
“Executive search activity is on the rise, meaning that the competition for the best and brightest at the executive level is escalating,” he said.
While he believes executive search is arguably the most important task in the business world, he says it’s still a 50-50 proposition for most companies.
“If you’re not an informed customer, you’re bound to become the latest statistic or the next HR leader whose reputation was dinged because of a search that went off the tracks,” he said. “You have to get executive search right the first time — otherwise, you’re wasting your organization’s time and money.”
At Momentum Search Consultants, premier cosmetic and beauty industry recruiters, we place top talent in a wide range of positions, including everything from junior professionals to senior executives. Contact us today to find the right person for your team.