Executive search and selection: is it harder to find or to select an executive?
Executive search and executive selection are two completely different processes, which usually take place within the same project, where the most suitable candidates need to be identified and presented to the hiring manager. The importance of both executive search and executive selection is similar, but executive search is referred to as an independent process, whereas executive selection is already directly dependent on executive search. This dependence means that the executive search process is still more important than the selection process and must be given the utmost attention. Once the quality of the executive search process is assured, it is then possible to move on to the selection of managers, which is always easier when motivated, suitable candidates are found who are within the remuneration budget.
Why is executive search more important than selection?
Successful executive recruitment is partly the result of a good executive search. When an executive search produces a large number of suitable candidates, it is less difficult to select the most suitable candidate in an executive search. The opposite is true when the executive search is not done properly. In this case, even with the high level of attention paid to executive selection, compromises will still have to be made on candidates who are not fully suitable, and it may even be necessary to sacrifice some important requirements because candidates who meet all the requirements may not be found. It is therefore important to have a strategy and a plan for both executive search and selection throughout the project, but it is important to realise that a good selection plan will be wasted if the executive search is not done properly.
How to conduct a good executive search?
An executive search starts with 2 key points:
- a well-defined list of candidate requirements
- a thoroughly vetted long list of eligible candidates
Once the list of candidate requirements has been finalised, the executive search moves on to the shortlisting phase. Of course, this phase requires a high quality database of executives, so the long list of candidates is normally compiled by the executive search firm or by an internal member of staff who has appropriate experience in organising executive searches (if any). After these two essential steps in the executive search process, it is now possible to move on to directly contacting the long-listed candidates. This stage already requires very good communication skills and a good knowledge of the managerial position to be sought and the requirements and challenges ahead.
What are the biggest mistakes in management selection?
Even if the executive search is carried out to a high standard, there are also mistakes in the selection process that are not always easy to correct. The most common mistakes in executive search are:
- Too long process – the process needs to be efficient and too many non-value-adding stages in the executive selection process are frustrating for both the hiring manager and the candidates.
- Inadequate finalisation of the selection process or inadequate preparation for the negotiation with the selected manager – the final stage of the selection process requires a well-developed proposal and its proper presentation to the selected candidate. This process is followed by the negotiation, which also needs to be prepared for. In most cases, lengthy negotiations with the candidate in the executive selection process reduce the candidate’s motivation to accept the offer made to them.
- Failure to maintain adequate candidate motivation throughout the executive selection process – Candidate motivation in the executive search process is not just a matter for the candidates themselves. The employer needs to ensure that candidates are involved in the executive selection process, with many benefits: motivated candidates, greater flexibility in their expectations of remuneration, etc.
- The wrong final candidate – a rare but very painful mistake at the end of the management selection process. To avoid this mistake, it is recommended to use not one but several hiring managers in the management selection process and to organise a session where all hiring managers express their opinion on the most suitable candidate for the management selection.
Who can help in the executive search and selection project?
Executive search and selection is a process that employers tend to carry out quite rarely. Rarely done, it requires much more preparation and creates the potential for mistakes. Executive search firms perform executive search and selection on a regular basis, so they have both high-quality databases of executives and specialists who are dedicated to executive search. A well-chosen executive search agency can bring enormous benefits to the executive search process. At the same time, executive search firms usually provide an extended warranty for their services, so that even in the event of failure, the insurance provided extends the chances of finding the right executive.
