When it comes to running a business, your employees are the most important resource you have. Quality employees are the most important part of your business, they are the hardest to replace, and the hardest to find. For any kind of non-human resource, you can just go out and buy the tool you need. To hire a person, you have to go through a process that best indicates whether or not he or she can be productive on your team. The hiring process is very complicated and arduous, you have to make sure that you are asking the right questions and reviewing the correct resources. If you are wrong, then you could cost your team and your business a lot of time and money. Because of the difficulty of accurately predicting whether or not someone will be an effective member of the team, hiring processes have grown larger and more costly. Additionally, human resources departments have grown larger and larger over the years. If you do not have a massive HR department, or if you don’t want to redirect their energy towards finding new executives to fill spots, you need to outsource your need.
Executive Search Firm
Talented executives are few and far between. They are definitely in high demand throughout the market. That is why it is often so hard to find a good one, and that is where executive search firms come into play. These are organisations that scour the globe to find great executives and match them up with human resources departments that have expressed a need. These firms are incredible time savers because they have a lot of resources and connections all around the world. A firm like Carmichael Fisher is going to be full of talented employees who have connections with executives and other human resources departments. They can put out a call that your business is searching for a certain kind of person. They will field responses from other agencies, businesses, and individuals and give you a list of only the most qualified applicants.
Internal vs External Hiring
Internal versus external hiring is a very big decision that comes up any time a high-level vacancy occurs. Do you promote someone already working for you or do you hire someone completely new? Each option has its advantages. If you hire internally, you won’t have to spend a lot of money or time searching for someone. You also already have all of their paperwork on file. However, you will still create another vacancy in your company that will require you to do some hiring. Essentially, internal hiring creates a chain of vacancies that you have to fill.
External hiring fills a need without creating other vacancies; however, the time you save from avoiding the chain of vacancies will likely be spent on finding a good candidate from outside the company. Moreover, you have to do all of the paperwork and interviewing. That is why an executive search firm is so helpful. The very best ones actually assess your current employees as well as others when they are searching for executives for you. They can advocate for internal or external hiring depending on your circumstances.
If you want to save time and hire the right executive, choose an executive search firm.