The present job market is at a critical stage. The major reason being the shortage of skilled workers has reached critical levels. Around 71% of service sector businesses have found it relatively hard to locate the right workers for the job. Moreover, three-quarters of manufacturing firms had reported trouble finding suitable candidates for the posts. As a result, the services of executive search firms and recruitment agencies become imperative. These firms would help hare the administrative burden, effort, and time involved in finding a suitable candidate for the job.
Numerous people believe that executive search and recruitment agencies perform similar services. It would be pertinent to mention here that while both the companies would assist in locating top talent, you would come across a few differences between the two. Let us delve into the major differences between the two agencies.
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Working of the executive search companies
Executive search companies search, introduce, and vet highly qualified candidates to companies. They would help seek out candidates for executive, senior, and other highly specialized positions. The firm would help choose a pool of candidates suitable for the specific needs of the client’s firm.
The executive search companies also act as third-party agencies. They would be the intermediary between the company and the candidate. They would carry out screenings, encourage the candidate to accept the job offer, and even negotiate. However, they do not hire candidates.
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Why should you prefer an executive search firm?
A firm hires an executive search company for senior-level posts inclusive of director of C-level executives. When it becomes difficult to find and encourage top talents for your vacant position in the company, the firm resorts to hiring an executive search company. Moreover, the services offered by the executive search firm would be invaluable when they hire the candidate having a significant impact on the success or failure of a specific project.
The recruiting agencies would be hired for finding candidates for non-executive positions. They would emphasize quantity instead of quality. Because of the unspecialized nature of positions, they would often shuffle candidates who are not chosen for a single position to apply for another.
You could afford to take the risks when the position filled would not affect the bottom-line of the business directly. Moreover, with no shortage of skills, you could afford to hire any qualified candidate for a given position. However, if there has been a vital skill shortage or the required position affects the profitability and efficiency of your business directly, consider choosing a company that could enhance the odds of choosing top talented candidates.
On the other hand, if you wish to fill an important executive position, rest assured that the executive search firm would be your best choice. The firms would cater to you limited, but highly talented employees. There would be a reduced risk of choosing the wrong candidates for a given role when you hire an executive search firm. In the event, you require a candidate with a specific cultural fit, stellar performance history, or a precise skill set, rest assured that an executive search firm would be your best bet.