What Healthcare Organizations Should Consider When Selecting an Executive Search Firm
Many companies hire executive search firms to find top–notch employees within their fields. It is an efficient use of resources, helping to narrow in on exactly the right candidate for the job. This is especially important when recruiting at the senior executive level and higher.
Consider the Firm’s Size
When a healthcare organization considers hiring an executive search firm, there are a few things to keep in mind. To start, bigger is not necessarily better. Big search firms recruit and hire across multiple industries. Because their scope is so broad, they may not understand the subtle nuances of hiring within the healthcare field. Innovations in healthcare IT, more sophisticated use of robotics in surgical procedures and advances in serious and terminal illness treatment mean this arena — and the players within it — change constantly. Healthcare companies need to work with search recruiters focused on their field because it is such a fast-paced environment.
Consider Who You’re Working with Directly
Organizations within the healthcare field all have needs unique to their business and using a smaller agency guarantees someone seasoned in the industry is handling placements. At a boutique executive search firm, the owners handle all of the accounts, whereas in a larger firm, clients are handed off to lower level managers. At the executive level, junior consultants should not be handling these clients on their own. It is also likely a client will have more than one point of contact within a larger search firm.
Consider the Number of Clients They Work With
Typically, as part of their contract, executive search consultants guarantee they will not recruit from their clients for a period of time after they are retained. A major drawback to considering larger firms is they typically have a lot of clients. In turn, this means there are usually a large number of companies the search firm cannot recruit from which tends to complicate things and lengthen a search. Boutique firms limit their clients on purpose. Shying away from largest companies as this gives them access to a much larger talent pool.
Consider the Firm’s Results
Fact-checking measurable results is another consideration when hiring an executive search firm. How long is the average search process? What is the turnover rate for placements? Losing an employee at the executive and C-suite levels can cost millions of dollars and happens quickly. Choose a firm that hires the right employee in a reasonable timeframe. If a firm keeps an updated database of clients, the job search begins before the day the firm is hired – not after. A successful executive search firm always knows who the best candidates are in their fields and can recommend someone quickly.
Hiring the wrong candidate is an extremely expensive mistake, particularly in the healthcare industry. Choosing an executive search firm by following the guidelines we have listed will minimize risk and ensure your organization hires the best talent.