Understanding The Executive Search Process – 10 Important Steps - WalkWater Talent Advisors

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Every executive search firm has a different way
to manage its search process, but there is a
basic protocol that is followed by even the
largest search firms in the world, as well as
leading boutique executive search firms. Lets
help you know the basic steps of a retained
search process, in this blog.
Step 1 Signing up a contract There is a
contract that is agreed to by the retained search
firm and the hiring organization, which
stipulates that the firm serves as the exclusive
representative of the search for external and
internal candidates. The contract also defines
the timing, agreements, and every issue relevant
to the particular assignment. Step 2 Holding a
meeting There is a meeting held to discuss the
requirements for the role the meeting including
board members, members of the senior executive
team, peers, and subordinates. This meeting
helps the search firm to gather important
information about the requirements of the role,
as well as an insight into the culture of the
organization, the management style, and every
other fact and
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statistics that is essential to understand what
makes someone successful at the company. Step 3
Creating the job position description and
specifications The search firm then drafts the
description of the job position, detailing its
duties, responsibilities, objectives, and
reporting relationships. It also specifies the
candidates core competencies, preferred
experience, and soft skills required. This
document serves as a marketing tool. Step 4
Setting up a strategy The search firm then
develops a strategy of targeting companies most
likely to yield a successful candidate,
considering the level and scope of comparable
roles and key data points, such as the office
location, company ranking, and corporate
culture. Step 5 Beginning a research Using the
strategy and the created document, the search
firm starts a research to identify and profile
idea candidates, mapping the reporting
relationships, and building out org charts of
target teams. They will also check their own
candidate database, proprietary information
services, and social networks to yield
prospective candidates. Other sources like
professional associations, journalists, and
other relevant groups are also contacted. Step 6
Contacting prospective candidates From all of
the sources above, the search firm contacts
prospective candidates to determine whether they
actually meet the requirements of the role,
gathering details on every candidates
motivations. The list of qualified and
interested prospects is reviewed to determine
whether more research is necessary, or its time
to schedule in-depth interviews. Step 7
Interviewing eligible candidates The most
eligible candidates are then interviewed where
the candidates are evaluated, taking care not to
jeopardize candidate confidentiality. Every
candidates career history, past performance, and
soft skills are verified, after which those who
arent fit are striked-off the list. Step 8
Writing the Candidate Profiles
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For the candidates chosen, the search firm then
presents to the client every candidates
Candidate Profile that details the candidates
education, honours, awards, and career history.
This report serves as an analysis and appraisal
of the candidates strengths and weaknesses,
highlighting the key motivators and issues,
along with deal-making details that are essential
to closing the candidates. Step 9 Scheduling
client-candidate meetings Client-candidate
meetings are then scheduled for the candidates
that the client chooses. These meetings help in
narrowing down the list to the top two or three
finalists. These candidates are then checked for
employment and academic credentials. Step 10
Finalizing the candidate and negotiating a
package Based on every detail, the final
candidate is then selected, after which the
search firm works up to position the candidate
into the organization, negotiating a package
that is agreeable to both the employer and
employee. You can see how such a search process
requires investment of a good amount of time,
which is why you need one of the best executive
search firms in India, one like WalkWater Talent
Advisors, having a decade of experience of hiring
the most suitable candidate for any kind of
senior-level job.