Why Traditional Recruitment Methods Don’t Work for Executive Search: How to Uncover Hidden Leaders
As talent acquisition evolves, our strategies for securing top executives must also adapt. Traditional recruitment methods, though effective for general roles, often fail in executive search. This inadequacy likely drives the projected global growth in executive search (ES), expected to grow by 7.5% over the next decade.
As a boutique executive search firm with a global reach and an impressive 97% success rate, we are experts at uncovering hidden leaders. This article explores why conventional approaches are insufficient for senior management roles. We then take a closer look at the methodologies to excel in identifying top leaders.
The Shortcomings of Traditional Recruitment
Traditional recruitment and executive search are related yet distinctly different subsets of talent acquisition. However, one executive search exists because the conventional recruitment process has its limitations. Discover some of them below.
Relies primarily on active job seekers
Traditional recruitment channels, such as job postings and online job boards, are effective in reaching active job seekers. However, for high-caliber executive roles, the ideal candidates are often not actively seeking new opportunities. These professionals, known as ‘passive’ or 'latent’ talent, are typically already thriving in similar positions at competing organisations.
While sometimes general recruiters might also approach passive candidates, their success does not depend solely on that. In contrast, executive search firms, in the vast majority of cases, depend on their success in allocating and attracting leaders who are not actively searching for a career change. These candidates, while deeply engaged in their current roles, can be enticed by strategic opportunities that align with their career goals.
Tackles broad, less industry-specific searches
Traditional recruitment often targets broad, less specific role requirements, such as "5 years of experience in SQL." In contrast, executive roles require highly detailed job descriptions. For example, an ideal candidate could be summarised as: “a Director Treasury with refinancing experience within the automotive industry in Japan.”
Executive search consultants are on the hunt for niche experts.
When hiring top-tier leaders, the skill assessment must go beyond generic qualifications to include unique industry experience and expertise. This might involve understanding market-specific challenges or specialised processes, often linked to the geographical nuances of the market.
Employs less amount of time and resources
While general recruiters also prioritise quality in their placements, the roles they typically fill are not high-level leadership positions. Consequently, they do not usually invest the same amount of research, time, and resources as an executive search consultant would when seeking a Senior Director or a Regional Vice President. General recruiters are adept at making swift placements, effectively addressing immediate needs.
In contrast, executive search places a strong emphasis on the quality and long-term success of shortlisted candidates. Headhunters bring a specialised skill set and extensive resources, enabling them to connect with top leaders such as C-level executives, VPs, and Directors. Most agencies, constrained by limited resources, build transactional relationships with their clients that conclude with the placement. At Blue Lynx Executives, we provide continuous support beyond the final interview stages, ensuring the enduring success of your new executive hires.
Settles down for ‘good enough’ instead of ‘great’
At Blue Lynx Executives, we have adapted Jim Collins’ "Good to Great" business approach to candidate profiling. Our job is to help you distinguish between merely good candidates and truly great ones. Why? Because you don't want a 'good enough’ Vice President or Director. Key leadership roles require uncompromising excellence.
We begin by discussing with clients what a good candidate looks like for the role. Then we dig deeper to uncover what transforms them into a great one. This often requires a detailed look into the long-term strategic goals of the organisation. Traditional recruitment lacks the rigorous evaluation and comprehensive research needed to identify these great candidates, whose profiles align in three key areas: technical capabilities, cultural fit, and leadership potential.
Executive Search Firms: How Do They Work?
Considering all of the above, it's clear that executive search requires a distinct approach and experienced headhunters. Below, we will cover the process that our consultants use, whether they do contingency or retained search.
Executive search firms deploy a more proactive and strategic process than traditional recruitment. So, how do headhunting companies find candidates? For us at Blue Lynx Executives, the short answer is: we leverage our global networks, industry insights, and proprietary databases to connect and attract the right leaders.
The process behind our executive search success
We have developed and use a methodology that we call Executive Search 2.0 to identify and attract top-tier talent. This approach has helped us achieve a nearly 100% placement success rate for senior leadership positions. Here's a breakdown of our executive search process:
Step 1: Briefing
We start by thoroughly understanding the client – your needs, long-term goals, company culture, and specific executive role requirements.
Step 2: Talent Mapping & Market Analysis
Guided by the ideal candidate profile and the client brief, we explore the market to pinpoint talent across industries and locations. We also gather competitive intelligence on your business’ position in the industry.
Step 3: Blue Lynx First Approach & Candidate Assessment
We compile a list of all candidates that meet your search criteria and reach out to them. This initial approach provides invaluable insights, allowing us to refine your offer and give you real-time feedback on candidates' expectations.
Step 4: Shortlist
We provide you with a shortlist of top-tier talents who perfectly or nearly perfectly align with your requirements.
Step 5: Client Interviews & Successful Hire
We arrange interviews with your selected executives and provide live updates and negotiation support throughout the process. We ensure everything runs smoothly to secure an accepted offer.
Step 6: Continuous Support
We don't abandon you once the placement is made. We stay by your side to ensure a seamless transition and onboarding process for your new hires. Always just a call away, we're here to answer any questions or address any concerns.
The final touch: whole division building
After successfully placing the new leader in your organisation, we can go a step further and handpick the entire team below them. This is a 'whole division' building approach, in which we leverage our expertise in both direct recruitment and executive search. This way we ensure complementary skills and optimal performance.
How We Uncover Hidden Leaders
Know where to look & leave no stone unturned
Not everyone is on LinkedIn – an unfortunate, yet undeniable reality that significantly challenges recruiters everywhere.
Relying solely on the LinkedIn talent pool means depending on candidates to keep their profiles updated with relevant keywords and to respond to messages. Senior managers often remain inactive on the platform, and some don't have profiles at all.
This is where executive recruitment excels beyond traditional talent sourcing methods. Exec consultants explore a broader talent pool and use strategic approaches to reach the best candidates for their clients. For example, we once connected with the ideal candidate for a technical role by tracing their technology patent. This expert didn't have a LinkedIn account, and his company initially denied his existence.
But, Blue Lynx Executives aren't easily discouraged. After navigating multiple gatekeepers, we finally got in touch with him and presented a job offer from an industry competitor.
Understand what makes them tick
Hidden leaders, or passive candidates, are professionals who excel in their current roles and are not actively seeking new opportunities. These top executives have a high action threshold, meaning they are unlikely to consider a new offer unless it genuinely appeals to them.
Convincing senior leaders to spare a moment of their busy day requires a deep understanding of psychology and exceptional interpersonal skills. This is where Blue Lynx Executives excel – getting a foot in the door and making them reflect on what might be missing in their current role. We present new opportunities as the perfect change they didn't know they needed.
Turning a 'no' into a 'yes' (or at least a 'maybe') is crucial for successful placements. It involves understanding their career aspirations and presenting the new opportunity as irresistibly compelling. What makes executive search consultant at Blue Lynx different: we have mastered the art of rejection turnaround.
Discover niche leadership potential
When filling executive roles, clients often look for very niche, industry-specific skills. While soft leadership skills are often transferable across industries, technical expertise in a specific line of work often prevails. At Blue Lynx Executives, we adopt a granular approach to sourcing candidates with precise qualifications.
Borrowing the 'good vs great' approach, our headhunters prioritise specific industry experience in their search for leaders like VPs, SVPs and Directors. This requires a thorough understanding of our client's operations and the transformative impact of the new hire. With this insight, we target candidates not just from the industry but from direct competitors, ensuring a perfect match for success.
Use strategic talent insights for competitive advantage
A major part of the executive recruiter is doing research in the most comprehensive way.
We do labour market state analysis and provide benchmarking to identify leaders who can propel an organisation forward. At Blue Lynx Executives, we tap into a global talent pool, where we source executives capable of leading new market entries or enhancing existing strategies. This thorough and expansive approach ensures our clients access a broad spectrum of top-tier talent, giving them a competitive edge.
- A full market breakdown – Once briefed by our client, we thoroughly assess the market and industry, understanding their position among competitors, current challenges, and the pivotal role of the new leader, whether they will enter a new niche, expand geographically, or grow locally.
- Talent allocation analysis – We examine the talent pool to determine the number and distribution of candidates who meet our client's criteria. Our consultants analyse where talent resides both geographically and within the industry. Based on this analysis, we create a custom pipeline tailored to each project and client.
- Live benchmarking - We do this in two phases. First, we present top-tier candidates (8+ out of 10 profiles) actively working under real conditions. Then, we compare real-time compensation packages for similar roles, enabling clients to adjust their offers to meet actual candidate expectations and stay competitive.
In conclusion
Traditional recruitment methods are insufficient for the complexities of senior management roles. By actively seeking out passive candidates, emphasising industry-specific skills, and providing strategic talent insights, Blue Lynx Executives excel in uncovering hidden leaders who drive organisational success.
Blue Lynx Executives offers unparalleled expertise for companies seeking top-tier executive talent. Contact us today to discover how our executive search strategies can help you find the right leaders for your organisation.