About 2017-09-21T09:21:14+00:00

How Does One Choose An Executive Recruiter?

How Does One Choose An Executive Recruiter?

Why Consider JP Boyle & Associates?

There are a lot of executive search firms out in the market to choose from. But how do you make a good decision on which firm to select?

Many recruiting firms offer as qualifications the ability to find “the best candidates” or provide “top-performing executives”. Many firms promote that they possess qualities as “professionalism”, “integrity” and “personalized service”. Virtually every executive looking to decide on a recruiting firm will be met descriptors that sound similar to these.

It goes without saying that every company that performs executive recruitment will strive to deliver excellent candidates and do so professionally.

But these are not particularly useful differentiators for you when charged with engaging the services of a search professional.

When you need to choose a professional services firm and are looking to make sound choices, you can become confused by the relative sameness that can exist across the various companies as you perform your due diligence.

When choosing an executive recruiting firm there are risks on the line. There is the risk of hiring the wrong firm who cannot deliver the talent you need, There is the risk that the search will take too long to complete–or may go unfilled despite best efforts. There is the risk of a mis-hire that would further delay plans resulting in financial loss and missed opportunities.

For you personally, making the decision to engage an executive recruiting firm can also carry career risk should the engagement not end well.

We acknowledged that there can be significant financial and career risks at stake when making a decision on which executive search consulting firm to employ–especially for  filling crucial senior executive positions.

Risks of engaging an executive search firm

Minimizing Your Risk

In deciding which executive search consulting firm to choose, looking through the lens of these uncertainties will help you zero in on your best-fit choice.

Here are two vital questions to consider:

  • Will the funds devoted to using executive search services be money well spent?
  • Does the firm understand my unique business challenges?

There can be other questions to consider. But undoubtedly these are always in the buyer’s consciousness and need to be answered when deciding on whom to use on an executive search engagement.

ROI

Achieving Bottom-Line Results?

Will using executive search services be money well spent?

Our ideal client typically is a leader of a company in the medical device, digital health, nanotechnology or mobile health space. It could be an early-stage startup, a mature mid-sized organization or a large public company.

We are looked to when the leadership of these organizations have a sudden open position in their firm due to an unexpected resignation or when a key executive has had to be let go.

There can also be an opportunity, a challenge or goal that has not been reached because a talent gap prevents its attainment.

Company founders, boards or senior executives of these companies will engage our company when met with formidable obstacles.

Some examples include:

  • Medical device executives who are concerned about developing and selling products into a changing healthcare market where regulations and reimbursement requirements make future planning difficult. They need to reach the goal of continued revenue growth in the face of rapid commoditization, regulatory risk and shrinking margins.
  • Mobile health leadership is in a race to commercialize products in a “winner-take-all” market. There are high stakes and big rewards. They need reliable bullet proof technology that will provide real customer value and product differentiation in an increasingly crowded market. Leadership needs to meet these vital business targets ahead of the competition and before investors lose patience.
  • Nanotechnology leaders have big goals but often limited time and resources to accomplish these. The goal for many nanotech companies is the development of a disruptive scientific or technological breakthrough. If achieved, the rewards can be massive. Yet these organizations struggle to maintain focus and achieve commercially viability. Their culture can often be very R&D centric. The challenge can be evolving from a SciTech culture to a business development mind set to meet the expectations of stakeholders and the market.
  • Leaders of technology based startups are visionaries who want to seize big opportunities. Startup founders tasked with developing and commercializing next-gen products are challenged by the need for continual fund raising, managing burn rate and achieving measurable progress for investors. These founders, CEOs, and senior executives strive to meet steep targets while keeping enough “dry powder” to make it to the next funding round before running out of money.

The senior executives for these situations all have pressing business objectives. But often they do not know how to assess who to engage to help them solve their problem.

Your ROI will be measured by the results attained and time to do so. The speed, accuracy and effectiveness can be enhanced considerably by choosing a firm that can drill down with you on the critical factors that will move the company to the next level, the needed skills that will accomplish these and the roadmap to finding these skills rapidly.

Frequently we hear from these clients about their frustration with service firms “talking at them” and not listening to what really concerns them.

When entering into a discussion with a service provider the search professional’s focus should be on understanding the dynamics that affect your market and grasping your specific core business issue.

When you have a meaningful dialog that can drill down on the crux of what you are looking to accomplish you will have greater certainty assessing whether a search partner that is a fit for you.

Are Your Needs Being Understood?

Whether voiced directly or not, when a client faces the need to hire, the recruitment professional must understand the underlying business objective driving the need and must understand consequences of not successfully fulfilling that need.

Finding a recruiting professional who not only has the capacity to grasp your precise business need but can also add value to you on its resolution will be your best assurance of minimizing your risks and making a good decision on which firm you should engage.

Market knowledge can be a critical factor in your decision process when you assess our services as a match for your organization.

Market Knowledge

What Are The Ways Our Market Knowledge Can Be Valuable To You?

Knowing who the players are in a particular market space; knowing the winners, the losers, the various current events that surround the industry, is vital information that can have direct bearing on the quality of the executive search engagement’s outcome. A search partner that has this industry familiarity will bring about a deep understanding between client and consultant.

That understanding leads to the tactical steps of crafting an ideal candidate profile and recruitment pathway to completion of the assignment.

Choosing a partner who possesses insights into your market space can give you confidence that your issues will be addressed and your aims attained.

A qualified search executive should give you the certainty and confidence that your objectives are understood and provide a clear road map to their accomplishment.

The combination of market familiarity and a solid grasp of your business needs, acts as a solid foundation for effective candidate assessment once the process of recruitment begins.

Market familiarity can improve the assessment of senior executives that are potentially future hires for your organization.

Conversely, choosing a firm without these qualities leads to a project that may not be competently executed, with the potential for many false starts and detours, resulting in increased time and opportunity cost.

Are We A Fit?

When contracting outside services, there is always some element of risk. To make a sound choice, understanding and assessing the risks is your first step.

An executive recruitment partner who can contribute value to the table by demonstrating meaningful insight in a first discussion will provide you with confidence to make a solid decision on engaging an executive search consulting firm that will meet your needs.

At the Crossroads

Senior executives that need to engage the services of an executive search firm can be aided in that decision by assessing the right factors. Knowing whether the firm you are considering can understand your business issues, has the knowledge of your market will give you a clear concept of the factors that will predict success.

Does the firm you are considering have the competence and knowledge to fulfill the task—the execution of an executive search—and to do so in a timely and cost effective manner?

Let’s have a conversation to understand where you are now, where you want to go and the gaps that exist between these two points.

Then we can make some recommendations about how to bridge this gap.

For more information, please call at 1-847-320-1964 or contact us by email here to schedule a time to discuss how we may help you.

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