Executive Search is a specialized branch of management consulting which assists companies in the identification and hiring of talented senior executives.
Executive Search involves thorough and pro-active research and talent identification in specific and appropriate candidate markets and is tailored to each client's needs. Research is conducted in clients' competitor organizations as well as in all relevant business and industry sectors. Executive Search does not involve advertisements to attract candidates but focuses on business research as well as personal and professional recommendations. Executive Search methodology enables consultants to individually approach candidates who are not actively looking for a new job but who could be motivated to consider alternative professional opportunities.
The consulting part of a search project consists of 3 stages. The first stage includes an in-depth study of the client organization and its strategy; the preparation of the job description and candidate requirements; definition of the search strategy (target companies and individuals); a discussion of the compensation package; agreement on the internal client interview team/process and planning of the project time schedule. The second stage is the most complex and time consuming. It begins with the implementation of the search strategy with its extensive individual approaches and intensive marketing of the position to potentially qualified individuals. This is followed by the introduction of qualified and interested candidates to the client and active participation in, and management of, client-candidate contacts and negotiations, including contract drafting and reference checking. The third stage lasts up to one year after a successful placement and consists of regular contacts between the client and the search consultant in order to ensure the successful integration of the appointed candidate into the client's organization.
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