Executive Search Instructions Increase as Skills Shortage takes hold

As the market continues to improve, we have seen a rise in instructions for executive search assignments for Senior Executive positions as companies seek to plug skills gaps.
Executive Search Consultancies suffered most during the recession, and throughout the banking crisis Executive Search instructions have been few and far between. Even once the market started to pick up last autumn, contingent assignments (payment on completion only) was the preferred method used by product providers.
However, the nature of some company recoveries mean their requirements are now moving beyond this. Certainly for senior assignments some of our clients are making it clear that they are no longer prepared to compromise on quality. They would prefer to be absolutely certain that their chosen candidate is the best person for the job. As the only way of covering all options, a retained executive search is sometimes the only choice.
Understandably, companies were reluctant to retain a Search consultancy at a time when it was perceived that it was relatively easy to find good staff. However, some clients with an eye for the future are increasingly questioning whether this form of instruction really ensures they see the best available candidates for each role.

What is different about executive searches this time around?
Salaries are higher - typically £100k basic salary.
Requirements are specific - key skills and/or experience.
There are more candidates available, so the process is more complex and more candidates are being interviewed.
Referencing is becoming more detailed.

Focus on skills in short supply-
Knowledge of web trading
RDR
Direct sales
Telephone trading
Non advised sales
Compliance
Platform specialists

Don’t compromise on quality. Focus your expenditure on importing key skills where they do not exist within the company. If you want the best, only a retained executive search will deliver.

Back to headlines