Hire an Executive Recruiter
You’ve decided that it’s time to recruit a new executive for your organization. But in the process, you quickly realize that there are many layers to the role, and filling the position may be a challenging task to take on.
In this article, we will be answering some of the most common questions asked about executive recruiters and how you can hire the perfect recruiter for your business.
The Benefits of Hiring an Executive Recruiter
An executive recruiter can save you time.
Finding the right people for your company can be a challenging task. One job posting can receive over 100 applications, which means you will have the responsibility of going through every single one of them, scheduling follow-up phone interviews. An executive recruiter can ease the burden of this task by taking it off your plate and shortening the process with their extensive expertise, experience, and networking skills.
An executive recruiter already has top talent in their networks.
Executive recruiting enables your organization to access top talent that has most likely already been vetted. Executive recruiters work with several companies, which means they also work with several candidates who stay in their network.
An executive recruiter does more than post jobs.
Executive recruiters are responsible for various tasks, such as identifying and screening applicants for employment, arranging interviews, negotiating salary and benefits, and determining cultural compatibility between candidate and company. They are also skilled at seeking out and attracting talent that may be currently employed elsewhere or not actively searching for a new role.
An executive recruiter can help lower your turnover rate.
It’s common knowledge that the cost of high turnover is expensive. According to Harvard Business Review, poor recruiting decisions account for over 80 percent of employee turnover. With the expertise of an executive recruiter, you get a better-qualified and better-fitting employee than if you searched on your own.
FAQs About Hiring Executive Recruiters
The role of an executive recruiter is to find the right talent for a specific position. They work with various organizations, from tech startups to Fortune 500 companies. Recruiters often start by surveying the market and working with clients who want to fill a position. Then, if they find the right candidate, they present them to clients who may be interested in hiring that person.
The next step in executive recruiting is networking: making connections with people in and outside of the company who might know someone qualified for the job. Recruiters are also responsible for identifying, persuading, and negotiating on behalf of candidates and managing their expectations throughout the process.
Executive recruiters typically charge 25 percent to 30 percent of the candidate's expected salary. For example, if you are looking to hire a new Vice President of Sales with a $100,000 annual salary, an executive recruiter would likely charge you $25,000 to $30,000.
Guide to Hiring an Executive Recruiter
As the job market becomes more competitive, companies are looking for new ways to hire the best talent. Many companies turn to executive recruitment to help find qualified candidates for positions that are difficult to fill or have a time-consuming process.
Executive recruiters are mainly used to hire C-suite positions. The role of an executive recruiter is diverse, yet it can also be very challenging. The role requires excellent people skills, a strong understanding of occupational trends in the field, and a solid network of contacts and resources. If you want to diversify your hiring techniques, read on to learn how to hire an executive recruiter.
What is an Executive Recruiter?
There’s a lot of confusion surrounding what an executive recruiter does. Some people think they are headhunters, but this isn’t always the case. An executive recruiter works with companies to find candidates for vacant positions. They act as middlemen, bridging the gap to connect candidates with businesses that need them. Once an organization has hired a candidate, they will be paid a salary for their work.
Executive recruiters have a wide range of responsibilities, including identifying and screening candidates for positions, coordinating interviews, negotiating salaries and benefits, and assessing culture compatibility between candidates and employers.
Average Day of an Executive Recruiter
Have you ever wondered what it’s like to be an executive recruiter? Here’s what an average day typically may look like:
1. Performing Administrative Activities: An executive recruiter’s day begins with examining a client’s urgent needs and checking in on recruits. This task includes responding to emails, calling clients and applicants, and closing out successful placements.
2. Reviewing Portfolios and Resumes: An executive recruiter spends the day seeking out the best applicants, who are sometimes already employed. They may evaluate incoming resumes, initiate contact with qualifying candidates, or research through LinkedIn and other databases for prospects.
3. Conducting Interviews: Executive recruiters are often the first interviewer and point of contact for prospective recruits. Recruiters who understand their customers’ demands can quickly weed out applicants who aren’t a good fit, saving their clients’ time.
4. Notifying About Offers and Rejections: This is cited as the most gratifying and challenging component of executive recruiting. It’s a pleasure and a privilege to present employment offers that lead to joy, excitement, and even life-changing opportunities. However, rejection is also a part of the process, so executive recruiters must also be comfortable having uncomfortable conversations.
Are Executive Recruiters Worth the Investment?
Employees and executives are the backbone of any company. To grow, a company should continuously hire employees who can help take the business to the next level. The problem is that there are not many qualified candidates out there, and the most qualified ones are hard to find, which makes hiring challenging and expensive.
Most companies typically have a limited budget for hiring and recruitment. As a result, many organizations, especially startups or smaller-scale businesses, feel that an executive recruiter is out of their range. However, they still have to spend money interviewing, and they may end up wasting money on unqualified candidates or hiring someone who is not the right fit. It explains why many companies often neglect their recruitment needs and focus on other business areas.
That is where executive recruiting can help. Executive recruiters are experts in recruiting for top positions across industries, and they have the contacts needed to reach top-tier candidates in the industry you are hiring in. They can easily find candidates with a particular background and skill set.
Even if you aren’t actively hiring, it’s a great idea to be in touch with an executive recruiter who can keep an eye on the job marketplace, maintain a talent pool, and help you quickly fill a role in case of an emergency. In the long run, executive recruiters save you time and money and make back your investment by helping you hire top-tier talent that can move your business operations forward in record time.
What Education Should An Executive Recruiter Have?
The executive recruiter is a specialized position in the HR field. This person’s primary responsibility is to identify, attract, and select qualified candidates for an open position with the company. Most executive recruiters have a bachelor’s degree in human resources—however, many different areas of study qualify, such as marketing, psychology, or business.
Often, executive recruiters pursue an MBA to ensure they fully understand the inner workings of the business field. Because executive recruiting entails a great deal of networking, negotiating, and managing priorities, recruiters almost always have some professional sales training.
Other Considerations for Hiring an Executive Recruiter
An executive recruiter must also possess excellent people skills and be well-organized and meticulous with their work. An ethical background and outstanding communication skills are also critical requirements.
Specific industries have different ways of hiring talent. So it’s essential to hire a reputable executive recruiter who is an industry specialist. You can ensure this by requesting client references. An executive recruiter should present credible case studies or customer references. Examine the executive recruiter’s applicant references. Candidates who have used executive recruiters are more likely to be honest about the process and their treatment.
Final Words on Hiring an Executive Recruiter
The executive recruiting industry is booming. It comes as no surprise because many people feel that a company’s success depends on the quality of its leaders and employees. Indeed, an organization’s culture and morale can be significantly affected by the overall caliber of its employees. There is a shortage of talent right now, but you can negate this with the help of an executive recruiter. Executive recruiters are experts at attracting top talent to your company.
It may seem challenging to hire an executive recruiter. You may be thinking that you barely have time to hire employees, much less a recruiter. That’s where High5 can help. High5 takes the stress out of finding an executive recruiter by analyzing your company’s demands and pairing you with an already-vetted corporate recruiter. To hire an executive recruiter and grow your team, contact High5 today.