Do you have a suspicion that one of your executives is going to retire or has been looking at other opportunities? Or maybe one of your current senior executives is showing signs that they might not be the best fit for your organisation or the role itself?
These situations are not only difficult to navigate but must also be handled effectively with a sense of urgency. This is why working with a retained executive search firm will not only provide a quick solution to this problem, but also eliminates the future risk of making a bad hiring choice.
Here are the top signs that it may be time to start searching for executive search firms:
A current top executive isn’t the right fit
If a senior or C-Suite executive is not the right fit, either for the organisation’s culture or the role itself, the company can be sent in the wrong direction. This can be due to incorrectly handling problems, missing golden opportunities or making fundamental errors. Sometimes there are behavioural issues such as narcissism which creates tension and an uncomfortable atmosphere within their own team and other departments.
When it comes to C-Suite and leadership positions, psychopathy is a common trait. However, most candidates with this personality trait become ineffective leaders due to a lack of empathy. Executive search firms thoroughly assess potential candidates, not just for their previous experience and qualifications but also their personality traits, ensuring you are hiring executive talent that is best-suited to the role and the culture of your organisation.
A key executive has one foot out the door
Do you have a feeling that one of your key executives has ‘one foot out the door’? Filling an executive position with the right talent can be difficult, especially if you are caught off-guard with short notice. An executive search firm can conduct succession searches ahead of a possible opening. This way if your executive suddenly hands in their resignation, you already have a pool of suitable candidates ready to be interviewed.
Experiencing a rapid upscale
Experiencing rapid growth is ideal for any business. However, it also creates a need for effective leadership. If a senior executive is not found quickly, it can cripple certain areas of the business such as production, sales and marketing. Working with a retained search firm will not only source, identify and assess potential candidates, but some executive search firms offer other services such as Leadership and Board Services to uncover and improve gaps in experience, skills and more.
A critical position still hasn’t been filled
Searching for the best-suited executive talent can be a lengthy process if handled internally, resulting in frustration. The longer an executive position isn’t filled, the longer a business and its departments will suffer. Working with executive search firms that have in-house research departments means their headhunters can source and present the best-suited executive talent in a matter of weeks – not months.
If you are experiencing any of these issues, don’t make the mistake of not taking action. Search online for a leading executive search firm and ensure your organisation has the most effective executives to grow your business.