Executive search and traditional agency recruitment have some similarities, but when confidentiality is paramount and nothing less than the perfect candidate will do, the difference is like fishing with a net versus fishing with a spear.
What’s the difference?
Both support business in their hiring needs, but that’s where the similarity ends.
Traditional recruitment agencies help business fill a broad range of vacancies. They can begin work with as little as a job description and will advertise roles on job boards or through their own channels, provisionally screening candidates. They work on volume and offer access to a wide, generalised talent pool, but will struggle to attract the highest calibre executives by posting ads on LinkedIn…
Executive search firms specifically find and engage senior level or highly skilled individuals through a discreet and confidential process. Search partners specialise in their chosen sector and offer strategic consultancy to business leaders at the highest level.
They need specific expertise in areas like research, market mapping, and candidate assessment. They’ll help you manage the entire process, from refining the role and drafting the remuneration package to onboarding the perfect candidate.
Which one is right for you?
It depends on your hiring objectives. If you can find a good agency recruiter, they’re a great option to help you fill junior to mid-level management and less specialised positions where a variety of candidates may fit the bill – particularly if you don’t have the manhours to spare on casting a net and sifting applications.
Traditional recruitment agencies charge less and they generally work on a contingency basis, where the client pays once a new candidate is in place. Does that make them a more cost-effective option? Again, it depends on your objectives.
Executive search professionals usually only work with a handful of clients at a time, and they charge a percentage up front as a retainer – this ‘retained search’ model reflects the level of expertise, detail and resource involved.
It also reflects the greater level of trust between search partners and their clients. Our partners work directly with business leaders to fill critical roles at crucial times – a CEO to guide a transformation, or an experienced MD to steer a business through an acquisition, for instance.
When only search will do
With critical hires, confidentiality is usually paramount. Say you’re looking to replace someone already in post, for someone to lead an unannounced new market entry, or for a specific skill set that might tip off a competitor.
Where recruitment agencies’ cast a net into the market for all to see, we use in depth market mapping and competitor analysis to identify potential candidates discreetly, wherever they are. When you engage a Netiro partner, you can trust that your project will be treated with appropriate sensitivity – avoiding unhelpful speculation or signposting your strategic intentions.
Clients retain a Netiro partner where they need an expert who understands their sector and appreciates discretion – when the consequences of a bad hire are too serious to risk anything less… and getting the right person first time is the only option.
Finding the perfect candidate
To do that, we’ll first seek to understand your business, your objectives, culture, and aspirations. We’ll use our sector expertise to help you define the role and the skills, experience, and personality types that best fit your requirements.
The Netiro way is consultative and our partners spend decades building their market knowledge, so prepare to be challenged. We can also advise on broader people strategy issues like leadership coaching, succession or restructuring.
The perfect fit is likely passive, meaning they aren’t actively looking. That’s why executive search is proactive. With deep sector insight and extensive professional networks, we map the talent in your sector, among your competitors, in adjacent and related sectors, and further afield where necessary. We know the perfect candidate might come from somewhere unexpected… somewhere a traditional recruitment agency will likely miss.
Executive search should deliver a premium client experience with as little or as much input as you wish. Once you’re happy with your long list, we begin discreetly approaching candidates and whittling them down. You should feel confident that you’re working with senior operators who know how to have conversation at the right level and will represent your brand in the most positive manner.
We can handle all communication and support you through the interview process, ensuring you have everything piece of information you need to make the right decision.
“The detailed pre-interview pack was 56 pages, with profiles, background notes, CVs and psyche assessments. We were spoilt for choice.”
Netiro client, CEO, manufacturing
Trust over time: The Netiro way
The Netiro way is unique. Our partners are industry veterans with client relationships that span decades. We understand the value of building trust in long-term relationships.
As we support you to find the next perfect candidate… and the next, our insight deepens, bespoke processes are refined, trust builds, and so does the value of our consultancy.
Our unique model offers clients easy access to sector specialists who are personally empowered to deliver however they feel best fits your objectives. They will never hand your brief off to a junior – there are no Netiro juniors.
In executive search, relationships start with success, but they’re built on trust. So, if you have a critical hire on the horizon, get in touch with one of our partners and let’s build an effective way of working together.
Find your perfect search partner. Get in touch with us today!
