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News & views

Announcements, editorials, and insights from the global orthopaedic and spine industry

today Published on 13-04-2017

Why use an executive search firm?

Why use an executive search firm?

High-stakes hiring is risky.

Reports indicate that nearly half of new CEOs don’t make it past 18 months in a new company, and the costs of replacing them can be staggering.

Employers will be looking for a candidate who meets all requirements in terms of their experience, fit for the organisation and longterm commitment to the company.

Finding the right person is a key part of overall organisational success. The selection process therefore has to be extremely rigorous.

Executive search firms are a valuable resource for companies looking for high level employees.

Executive search is a form of management consulting, which provides significant benefits beyond search including assessing an organization and its culture, integrating a new leader for optimum success and advising executive leadership and boards.

The benefits of using executive search firms to hire senior professionals are enormous.

Their marketplace knowledge, skills, and expertise are second to none.

Executive search firms usually focus on one specific industry. This enables them to know the landscape and offer some specific knowledge of what it takes to work in an industry, or what it takes to be successful in a particular position.

By partnering with a specialised executive search firm, you gain access to skilled professionals who truly know your specific market, and understand how to find candidates that meet your requirements.

Motivating senior executives to take on a new challenge that fits their career development requires a proactive and sensitive approach by experienced executive search experts.

High-level executives are typically employed and treated well, and very rarely put themselves on the job market. Finding a highly-specialised search firm can open doors to candidates who otherwise wouldn’t have looked twice at your organisation.

Specialised resources and hiring strategies maximise your chance of finding the right candidate.

Executive searchers have the resources and experience to identify, evaluate, and secure leading candidates and are committed to their clients’ success.

Reputable executive search firms will have a global database of industry companies and candidates that they have talked with over the years.

They are able to approach each new search using a three-tiered integrated approach involving confidential networking, an up-to-date global database search and, if appropriate, personalised advertising to relevant candidates.

This is often something that HR departments and recruitment firms don't have the time or resources for.

Utilising an executive search firm adds an extra level of confidentiality to the hiring process.

When firms hire critical senior-level appointments, the interest in the appointment is high. The basic salaries on offer for these roles can be in excess of £100,000, bringing a lot of interest from both inside and outside the company.

Partnering with an executive search firm means the company can quietly approach competitors without being noticed.

Sitting outside the organisation with an in depth knowledge of the industry, executive search firms are often able to offer an objective input.

Search firms with experience in the right field can tell you if you are offering the right market package, and what type of candidate you may be able to get for that package.

Third party objectivity can be very useful when it comes to the big picture.

It can also a huge benefit to use a professional as in intermediary during the negotiation process.

As executive search firms are often on retainers, their success is defined by the long-term commitment and impact of the person hired, therefore they are motivated to help secure a lasting, successful executive hire for their client.

The assignment is not over until the candidate has accepted the offer and started working.

Having a consultant act as a buffer during tough contract negotiations ensures nothing is said directly to the candidate that may cause lingering hard feelings when the candidate finally begins working with the company.

Finding, recruiting and retaining the right talent into your organisation presents many challenges but is critical to success.

Orthoexecutive are an executive search organisation who partner exclusively with the orthopaedic and spine industry.

Specialising predominantly in senior management positions, with particular expertise in recruiting into Sales and Marketing functions, Orthoexecutive have a proven track record in placing candidates in the UK, EU and Asia-Pacific.

If you are an organisation looking to partner with an executive search firm for your next strategic hire, get in touch with Matt Woods (07500) 555508 or Fiona Walters (07585) 003433 to find out how we can help your business find the senior talent you need.

To find out more about Orthoexecutive, please visit our website.

If you’re interested in a career change, view our most recent opportunities.