Business Panorama And The Executive Search Industry

Get, Keep, Grow has been the chanting mantra of Human Resources philosophy. Getting good people as the ubiquitous first step hardly needs emphasizing. The Executive Search function has been to the quick rescue of the Hiring Manager in organizations. However as a specialised industry born as an offshoot of management consultancy, the Executive Search industry has had its own share of bouquets and brickbats. During times of cost-cutting and renewal firms have often turned to internal recruiting. Technology too has served as the abettor here, pushing talent pool closer to the firms. Thus, mandates often shrink and get limited to only critical leadership hiring. To begin with the task of an Executive Search executive is not an easy one. The search executive as to sift through huge piles of resumes, keeping in mind that the task they are entrusted with is to select the best talent rather than what is just available. Unemployed candidates often form a bulk of the response and it takes time to be assured of the capacity index.  Still if we compare internal hiring with third party hiring, the extensive process adopted by Top executive search firms ensures that the best talent is sent for the firms’ perusal. Not only that the personality testing section of the hiring process ensures that personality-job fit is captured.

 

Organizations spend fortunes in fixing initial hiring decisions and in correcting workplace behaviours. Top executive search firms with mandates ensure they deliver friendly, upbeat people if that is what the job entails. The MBTI (Myers and Briggs Type Indicator), JTI (Jung Type Indicator), Thomas test (DISC) and the new Hogan tests are the instruments frequently used to assess personality types.   In tapping key talent, the industry focus of the recruiter also comes in handy as they tap dormant talent and ‘stars in the making’ of a particular industry. Some research also bolsters the fact the candidates prefer to connect with trustworthy and industry savvy recruiters rather than just floating like an anonymous online commodity in the job market.

 

The neutrality of the search executives also serves in building a long-term relationship both with the client organization and the candidate. Thus despite the challenges that come with time and the changing face of business, Executive Search function is here for a long haul. Due to the pressure of economic uncertainties, companies were limiting hiring to C level and key senior roles and not very willing to take long term plans to expand management teams; till hitherto. Now, with the global economies growing more stable companies are willing to invest in quality executive search with élan.  In India too, staffing exercise has strengthened, especially in core industries of manufacturing, mining and construction, finance, insurance and real estate. This is a good sign for hiring in general and the executive search function.