When should a healthcare company hire an executive search firm?
Hiring an executive search firm is the perfect solution for healthcare companies facing a variety of challenges. Maybe an internal search has dragged on for too long and become stale or it has been difficult to find just the right candidate. So when does a healthcare organization know when it’s time to abandon an internal search assignment and hire an executive search firm?
Company is too busy
An executive search for a Director, Vice President, or C-suite executive will typically take more than just posting a job description. Finding the right talent is hard work! Hours go into the process and when a company’s HR team unsuccessful, it can be a major strain on the organization. Not only from an HR perspective, but all of the other executive team members who have to pick up the slack of the open position.
Executive search firms only have one job function – finding the best candidate.
Thinning out the applicants
When conducting an internal search, the response rate for an executive level opening can be overwhelming. The wrong candidate may get through while the perfect match is eliminated, just from getting overwhelmed with the sheer volume of resumes coming in. Keep in mind, large organizations may have 50 – 100+ openings at any given time. Executive search firms specialize in knowing who to let through and dedicate the time to make a company’s search their priority.
A key leader left with little warning
If a key leader left immediately, executive search firms know who is available NOW and can reach out to potential candidates with little to no notice. Search firms specialize in maintaining relationships as well as an understanding of what’s happening and who’s available in the marketplace. . A company going it alone would post the job and then wait for resumes to come in.
Using an executive search firm ensures that a company does not settle on a candidate too quickly just to fill an opening. If leadership is rushing to fill a sudden vacancy, they may feel the need to hire one of the first people who apply. Executive search firms know the caliber of who else is may be in play and when to wait for the best possible candidate.
Search can branch out beyond region
Great candidates may exist beyond the region where an organization is located, but the only way to know that is to have a strong pulse in the industry. A job posting appearing in a regional site will not be seen by that great CEO across the country, not knowing the perfect fit exists somewhere else. Executive search firms know where the best talent can be found either regionally or nationally.
Reeder & Associates has more than 25 years of experience placing executives in healthcare organizations. To set up an appointment to determine whether or not this is the right time to hire an executive search firm, contact us here.