Picture this. You have just secured your next investment round, the money is in your account, and you have your board chasing you on when your first hire for your leadership team will be. Feel the pressure building up? Don’t worry. Innovex is here to guide you through this sometimes challenging process. Save you time, money, and stress by providing flexible hiring services to secure and retain effective and sustainable leadership talent.
This guide will help you to understand what Executive Search is.
What is Executive Search?
Executive search is the hiring service, specifically for C-suite and leadership roles.
Exceptional leadership is key to the success of any business, so when you need to conduct CEO, Leadership, and Board of Director searches, Innovex is an Executive Search firm that helps you find the right candidate for not only now but the future of your business with a stress-free process.
How do Executive Search firms work?
Executive Search firms work with you to set a brief for a specific C-Suite or leadership role and then go out to the industry to find this candidate by shortlisting and interviewing for you. The firm interviews for you against strict criteria to save you time and put forward candidates to select for an interview process. The client conducts final round interviews, and the Executive search firm then negotiates on the compensation package. The Executive search firm is there to take all the stressful, painful, and time-consuming aspects of hiring away for you.
Our Executive Search Consultants will provide an up-to-date view of a market area and identify candidates from relevant target sites. Innovex considers their professional skill set, experience, and working methods and ensures an excellent cultural fit.
Who we help
- PE & VC Backed: We deliver the candidate who will compliment a founding CEO and/or board members. Therefore, relieving any stress, you may have high-pressure shareholders.
- Startups & Scale-ups: We work with companies from Seed through funding rounds to pre-IPO. We love the challenge of working with start-ups whose functions may not yet be in place. So we work with you to change this.
- Public companies: We find the people who can give a more established business a competitive edge, either driving transformation and digitalization of the product/service or breaking into new markets.
What is an Executive Search consultant?
An Executive Search consultant is an experienced person who manages the hiring process for you from start to finish, specifically for C-suite and Executive Level roles.
Our team is built of experienced and specialised consultants guiding you through each step in the process. Values to look for in a consultant which we pride ourselves on are:
What makes Innovex different? Take a further look HERE
How it works, and how do Executive search firms find candidates?
What we do for you:
- Execute a detailed brief with all stakeholders involved to ensure alignment.
- 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.
What are the benefits of using an executive search firm?
- Access to global executive networks.
- Executive Search firms will find the highest performing candidates from a search list of up to 80-150 people in their specialist field, rather than the first four that apply to an advert.
- Executive search adds more layers of security and process to reduce the risk of hiring the incorrect candidate; for example, the Executive Search firm will have already briefed the candidate in detail and interviewed for over an hour before they make the shortlist or meet the client. Agencies speak to each candidate for 15 minutes and then send you a quick summary.
- We provide a lot of data related information to inform realistic decisions to hire the best for a business wanting to impact. This is helping clients to navigate the very challenging candidate-driven market we find ourselves in.
- Saves you time. Hiring a leadership team is an incredibly time-intensive process if done internally. Hiring an Executive Search firm saves you precious time and, therefore, money.
Retained Search Firm Vs. Contingent Firm: Why we are not your usual Executive search firm
Contingent search agencies hire lower more operational level roles. Whereas Executive Search hire C-suite Leadership team roles.
How to find an executive search firm that can create impact and make a difference:
- Contact us HERE and see what our clients say about us HERE
- Search on LinkedIn
- Search on Google
- Ask your network for recommendations.
Additional recommendations from our CEO and Founder, Jake Parish.
- How often do you benchmark your hiring suppliers? Be in the know on what is out there. Jake encourages clients to do this quarterly.
- It is good to have more than just one supplier. For example, we advise clients to have a variety of different suppliers, all supplying in their number one specialist level and area.
- Move fast during the hiring process and have contracts with your search firm agreed ahead of time so that they are ready to go as soon as you are. Move slowly, and you run the risk of losing the best candidates.
- Think ahead. Have a supplier list of Executive Search companies set up and ready to go so that you can move fast upon securing the funding. Regular RFP’s are a great way to find the best Executive Search firms. Your future self will thank you for this.
Take a look at our Executive search page HERE to find out more.
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