Five Benefits of Using an Executive Search Firm

Benefits of Using an Executive Search Firm

Finding the right candidate for the C-Suite is an intense process for any industry. It can cost as much as $2.7 million for a single failed high-level executive hire. There’s even more pressure in healthcare, where a bad fit can have disastrous consequences for patients and employees alike. That means it’s imperative that a candidate possesses all the necessary qualities for success, like a high level of emotional intelligence, the capability to think critically and strategically, and plenty of business acumen.

Fortunately, with the help of an executive search firm, healthcare organizations can ensure they hire the best possible candidate without having to spend an extensive amount of time and resources on recruiting. Below are just a few benefits an executive search firm can bring to the hiring process.

1. Impartial screening for all candidates.

Biases in the hiring process can be a major problem, especially if there are internal candidates involved. An executive search firm provides an objective third-party perspective to guarantee that candidates are selected based on their merits and not just on who they know.

In addition, third-party search firms use advanced technology and marketing resources to identify candidates from a diverse passive and active candidate pool, which helps to eliminate unconscious biases based on age, gender, race, or ethnicity.

2. Comprehensive recruitment process to ensure a perfect fit.

Before the recruitment process starts, an executive search firm performs a detailed interview with key stakeholders to determine what an organization’s culture is like and what the assignment requirements are. This information is then compiled into a profile that lists out what personality traits and skills to look for in candidates.

Using that candidate profile, the search firm creates customized interview questions to screen for the right skills and qualifications. By engaging in such a comprehensive process, organizations can avoid hiring candidates whose culture doesn’t align with the organization or the community it serves.

3. Access to an extensive database of candidates.

Executives aren’t the kind of candidates that spend their time searching through job boards for open positions. More often than not, finding the right candidate for an executive position requires having the right connections and reputation to entice top performers to consider joining an organization.

Executive search firms specialize in those exact areas – they devote time to networking and marketing in order to develop a sizable database of highly qualified candidates. And because they have access to high-level contacts in the industry, they can cast a wide net that reaches candidates that would otherwise not be aware of the position.

4. Commitment to diversity and inclusion.

According to a recent survey by Gartner, 45% of HR leaders report that their leadership bench lacks diversity. When you take into consideration that diverse leadership leads to more innovation, and in turn higher revenue, it’s apparent that diversity is necessary for an organization to truly excel.

However, it can be difficult for organizations to find diverse candidates on their own. That’s why many executive search firms provide specialty services that focus on diversity and inclusion. This ensures that the talent pool candidates are pulled from contains a wide range of differing perspectives.

5. Discretion and confidentiality.

When it comes to hiring for an executive position, the best candidate is often already employed at another organization – sometimes even a partner or competitor. And in other situations, an organization may be seeking to replace an executive that isn’t meeting performance standards.

In both cases, working with an executive search firm guarantees that the hiring process is confidential and conducted with the topmost discretion. This creates a win-win situation where the best candidate is hired, and important business relationships remain intact.

Save time and money with an executive search firm

There are a multitude of obstacles and complications that arise in any hiring process. But because healthcare organizations face the additional challenge of meeting a rising demand for care with a limited supply of qualified physicians, there is even less time, money, and resources for filling key executive positions.

Outsourcing the hiring process to an executive search firm allows healthcare organizations to focus on more important priorities, like providing top quality patient care. And because search firms select from a diverse talent pool and perform a vigorous screening and vetting process, stakeholders can rest assured that their new executive hire’s values and skillset will be the perfect fit for the organization.

Jordan Search Consultants provides all the benefits listed above – and more. If your organization needs assistance finding the right candidate, give us a call at 866-750-7231 or email us here.

2019-12-02T17:04:38+00:00By |