An executive staffing agency helps you keep your company fully staffed with talented executives.
Companies that are growing fast may struggle to stay on top of their recruiting needs when it comes to hiring executives. Hiring upper management requires additional vetting since finding the right person for this role is so crucial. For instance, when Facebook purchased Instagram, the photo-sharing company only had 13 people on staff. Because many successful startups operate with few people, hiring top talent is imperative. It’s just as important for big companies to do the same. And remember: the last thing you want to do is allow a key position to remain open for an extended amount of time.
Hiring executives is akin to playing matchmaker. For instance, matchmaking companies provide individual looking for love with a list of attributes or interests with which describe themselves. For a company to be successful, it needs the right people. Find them by considering personality types in addition to skills. You can require candidates to complete a personality assessment before even bringing someone in for an interview.
It’s also important to understand how the business operates. Patty McCord, the former chief talent officer for Netflix, stated that money should not be the motivating factor for any employee. She said, “It’s about hiring a team member that’s going to help you get great stuff done on time with quality and figuring out what the problem is.” Instead of using the trial-and-error method—which, let’s face it, is a poor way to find the perfect executive—do it right the first time by working with an executive staffing agency.
Experts know how to decrease turnover rates.
When you make executive hiring a DIY project, you may inadvertently increase your company’s turnover rates (which occurs when the wrong people are hired). Along with the financial repercussions of high turnover rates, losing people causes productivity disruptions. According to one study, an estimated 42 million employees will leave their jobs to work for another company this year. The report further shows that in 2018, US employers will be on the hook for $600 billion in turnover costs.
Hiring the wrong candidates means that your company is dealing with turnover. When companies can spend anywhere from $5,000 to $10,000 bringing in just one new person, the cost-effective way of staffing your company is to hire the right candidate from the start since. It can also give your company a bad reputation. While thorough vetting is a time-consuming process that involves multiple interviews and tests, doing so is worth it in the long run.
When you have the right people from the get-go, you won’t have to worry about high turnover rates.
If you are not a plumber, chances are you are not going to attempt to fix the piping in your house. Unless you are a mechanic, you probably won’t try to replace the transmission in your car on your own. So it holds that if you are not in the business of executive headhunting, you shouldn’t be looking for your next executive hire without professional help.