What does an Executive Search Business actually do?
We’ve all heard the term Business Model lately – it’s widely used and many firms now seek to concentrate not only on new and innovative products/services but equally on revolutionising their business models as a key part of their core value proposition.
However, understanding the value proposition of a service provider requires a simple, relevant and intuitively understandable definition of what they can do for an organisation.
In our industry, the term most often associated with Executive Search is ‘Head Hunting’, where a search process will include both active job seekers but also those not actively on the market. This creates a search process which may require a much greater effort on the part of the Search firm to source the most relevant profiles.
More often than not, that’s as far as people’s understanding of our process goes.
Fortunately there is quite a bit more to the Executive Search process. It relies not only on the relationship of a recruitment partnership (led by a Practice Leader), but also on a full research team working behind the scenes to utilise both conventional and non-conventional means of searching a defined marketplace - thoroughly.
So what service does Accreate provide?
We present an overview of the entire market (within a scope defined by our customers) in report format - typically this is function-specific and will also include a taste of particularly capable profiles a level below the customers requirements as well as those a level above (with circumstances that make them relevant for each particular assignment).
This report will typically consist of a complete market map (as mentioned above), a long-list overview and finally a recommended shortlist. This report will be a collaborative team effort consisting of +50 man hours and often between 60 to 200 profiles.
The Market Map:
Why a full market map? This allows our customers to review relevant profiles across their direct and often indirect competitive environment (a company supplying drills, for example, competes not only with other hardware suppliers, but also with adhesive suppliers, partition and shelving suppliers etc). It also allows organisations to review the size of the market (important in managing the expectations of Line Managers); the job titles other organisations use for similar functions and the average market salary range for these functions.
This highlights those profiles Accreate has met with and deemed most relevant against the parameters of the search assignment that are both interested in working for our customer’s organisation and, sometimes equally relevant to our customers, those who are not.
Having met with the entire long-list of profiles, the short-list will consist of those Accreate has deemed most suitable against the assignment directives. It will include interview notes that contrast the customer requirements against the individual’s qualifications and experience and outlines why we have chosen these over others.
Putting the Entire Process Together:
The long-list remains important as it can produce some out-of-the-box “wildcards” which often gets our customers thinking about alternative directions the role could develop into. Plus, we’re not infallible - sometimes our interpretation differs slightly from that of the Line Managers, so having these profiles to hand can result in a deeper understanding of the assignment for both customer and service provider.
Obviously the more often Accreate works with our partners (both employers and potential job seekers), the more intuitive we become – hence why it pays to develop long term relationships. It is also important to note that a professional service is always based on accommodating the customer and their requirements – some will want more detail, some less.
Our Value Proposition?
In understanding the above process – both visible and behind the scenes; the Value Proposition and reason clients choose to work with us is based on a professional, discreet and extremely thorough process which is fully communicated, documented and presented to our customers in report form.
So if your organisation requires this type of service, why not reach out to one of our Practice Leaders today!