The Future of Your Executive Search Firm

April 22, 2019 Tom Clark | Comments Off

For better or for worse technology has already influenced the recruitment process and even the executive search industries. From job portals, online to professional networking websites, technology has swept through almost every industry.

For over a decade now we have seen several disruptors emerged in the field of recruitment and the most prominent platform is LinkedIn. Even before LinkedIn came into existence, companies were in a constant need for recruitment firms to help hire the best candidate. Sadly, recruitment firms could not fulfill the requirement of providing the relevant candidates due to lack of network.

With time things, have changed. Candidates and companies can now access platforms where they can fill in those gaps. This option was open even when the organizations were not particularly looking to hire a new candidate. LinkedIn, a professional network offered both professionals and businesses to demonstrate their brandings not just at a local network but globally as well. It has become easier for organizations to screen the right candidate and reach out to them, this helps in building the employee-employer relationship.

The challenges faced today

With technology moving at a rapid pace, it can be challenging for executive search firms to stay in sync with today’s job market. For such a scenario, the executive recruiting firms need to understand that staying relevant in today’s job market without being tech savvy can be a challenge. The field of recruitment is still at a stage where a lot of improvisation is yet to be made. The services and recruitment process followed by recruiting firms a decade back is not going to work in today’s fast-paced market.

Technology has taken over, dashboard, relationship building, client engagement, IT data management, etc. are certain capabilities that the client expects from the executive search firm. Presently, executive search firms started building leadership training to enhance the placement rate of candidates. In addition to this, they have also added services like monthly fixed retainers that will help accompany newer offshore companies getting into the zone. 

Having an established pattern that evaluates both client and candidates’ engagement, providing data on roadblocks, and having escalation activities are projected towards having efficient client – candidate activity. Most importantly, it is crucial to have a platform where candidates can showcase their interest to executive search firms, making them a potential candidate.

These days there have been instances where due to huge disruption on availability of employer and employee applications found online recruiters will need to get back to the clients to get a brief about the requirements of the candidate.

With such disruptions, it has become crucial for executive recruiting firms that they stay in-sync with the market trends, keep up with the training sessions and stay motivated.

In today’s scenario keeping up with the industry’s standards is crucial for every firm, else surviving in this industry can be a challenge. There are end number of executive firms available in the market, the firm that stays relevant and keep up with the market trends will be the sole survivor.