Days, Weeks, Months? The answer you least likely want to hear – ‘it depends’. But it does.
What it depends on:
- If the client team is all aligned, onboard, and communicating regularly to keep the process moving.
- If all shareholders and executive leadership teams agree on a compensation budget and it is ready to go.
- If the team has agreed on a firm interview structure with timing SLAs between each stage and are sticking to it (not adding in stages after agreement).
- If all involved have conducted research or asked for specialist guidance on precisely what they need this person to do versus the proper budget for the search.
However, Innovex dedicates itself to guiding you through every step of this process and alleviates all stress by saving you time and money to gain the candidate you want and need to grow your business.
This guide will advise on how long executive search takes, the process, and how we, Innovex work and can help you.
How Executive Search Firms Work
Executive Search firms, broadly speaking, work with you to clarify the brief of the role and the interview framework and do all the heavy lifting for you. E.g. post-market research, sourcing candidates, compiling a shortlist, interviewing these before presenting, and setting up interviews for you.
What Innovex will do for you, step by step:
- Execute a detailed brief with all stakeholders involved to ensure all are aligned.
- Design a unique research strategy to map geographical areas and industry pools and identify business aspirations.
- Create an interview framework that you approve, allowing us to assess the agreed skill sets and personality types.
- Identify and provide a research list of candidates ranging from 80-150 people.
- Approach this research list, gaining a minimum engagement rate of 50%.
- We provide weekly updates via phone and email throughout this process, alongside 24/7 access to our Executive Search platform.
- Interview each relevant candidate thoroughly.
- Provide a candidate report, including CV, interview notes, and recommendations.
- Agree on a shortlist from the longlist for you to interview.
- Organise your interview appointments swiftly.
- Advise throughout the interview process. Also, provide candidate feedback direct and confirm the next steps.
- Secure chosen candidate.
How Long Does An Executive Job Search Take – A Timeline
Typically a search can take between 7 weeks to 2 months. Innovex commit to the below timeline:
PHASE 1: PROJECT BRIEFING IN MORE DETAIL
Jake, our Founder, and CEO will take a personal approach to manage your project from start to finish. He will conduct meetings with you to refine the brief and gain buy-in from all stakeholders involved. Included in this will be candid discussions in order to gain clarity around an agreed unique research strategy with mapped geographical areas and industry pools aligned with business goals.
At this point we will also agree on an interview framework, this document outlines the process we follow in assessing the agreed skill sets and personality types ensuring culture/team fit.
PHASE 2: MARKET APPROACH
Kick-off! We get to work and identify a research list of candidates ranging from 80-150 people. We then approach these candidates, gaining feedback from them on the opportunity. The usual engagement rate is 50%. To keep you up to date with this process we provide weekly calls and regular email communication in addition to 24/7 access to our Executive Search platform, Loxo.
PHASE 3: INTERVIEW AND OFFER
Interview time! We alleviate the most time-consuming aspect of hiring from you and provide you with reassurance knowing that we have vetted them before they have even made it to your inbox. Each candidate is interviewed thoroughly by our research team and our CEO/Founder before even meeting you.
Each candidate also then receives a personalised/standardised candidate report, including CV, interview notes, and recommendations.
Jake will have a meeting with all stakeholders involved and agree on a shortlist from the longlist for the client to interview. Along the way providing key insights, data, and experience from his industry knowledge. We then also provide candidate feedback direct and set up all interviews for you – yet another time-consuming task alleviated for you! We book these in swiftly to avoid disappointment.
Once a candidate is successful and chosen we then negotiate and secure the candidate.
To learn more about our Executive Search process, please see HERE to find out more.
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