Jerry K. Fong, an Executive Recruiter in the Los Angeles office of Morgan Samuels, discusses his perspective on the benefits of leveraging an executive search partner. Jerry drives value for his Fortune 500 clients by helping them build high performing teams one key executive at a time.
In today’s competitive landscape, top-performing companies understand when to tap into the robust capabilities of talent acquisition firms. When you have an important position to fill in your company, it’s natural that your first instinct may be to turn to your internal Human Resources department. In many cases, however, an executive search firm is better equipped to successfully identify and recruit the best possible candidate for the job.
What are the benefits of leveraging an executive search partner?
Clients value our services because they need to hire transformation talent in a very short period of time. Additionally, clients need to optimize the valuable time of their own key leadership team by only having them meet with candidates who meet and exceed their very specific requirements. Let’s examine these value drivers in greater detail.
Access to the Best Talent: Executive search firms like Morgan Samuels increase your probability of identifying and attracting the very best talent in the marketplace. The quality of the placement is the ultimate litmus test to the success or failure of an executive search. As most Hiring Managers understand, the most qualified person is likely to be treated well by their current employer, and correspondingly is reluctant to pursue a change. High potential candidates often stay “off the radar” simply because they are more focused on driving value for their companies. Executive search firms utilize sophisticated tools to canvas the entire marketplace to uncover these prospects which increases the size and more importantly the potential quality of the talent pool.
Oftentimes, clients seek our assistance to identify talent outside of their industry. As an example, a manufacturer may want to find a phenomenal Customer Relationship Manager or a Chief Information Security Officer from the realm of internet retailers. That is where highly diversified executive search firms can also drive value - we have reach and visibility into industries, companies, and individuals where your Human Resources team might have limited access.
Speed to Hire: Executive search firms are built to quickly execute complex assignments to identify and recruit top talent in less time. We understand that your desire is to bring the senior leader onboard as quickly as possible to start driving value right away. An executive search firm has the ability to provide instant scale to an overloaded Human Resources organization.
As an industry leader, Morgan Samuels demonstrates an average cycle time of just 76 calendar days! This is critical because the earlier you bring on board this missing piece of your leadership team, the faster you can begin to realize value - whether it is through top line growth, driving down costs or mitigating risks through the implementation of best practices and methodologies.
Efficient Use of Time from Your Leadership Team: Yes, that’s right. Executive search firms can actually save you time as well! At Morgan Samuels, we partner with our clients to invest more time upfront to clearly identify the critical requirements and the expected outcomes the placement will spearhead once onboard. That allows us to scour the marketplace accordingly and only present the four to five best candidates who exceed your expectations. This enables our clients to concentrate on the core competencies of running the business rather than interviewing a parade of mediocre candidates that may or may not meet your needs. When interviewing for a C-level position, clients typically spend a full day with each candidate. If you are interviewing 12 candidates for the position, that is 12 full days allotted for interviews! That is a tremendous allotment of time from the “difference makers” in your organization.
Attentively, executive search firms like Morgan Samuels focus on efficiency, narrowing down the candidate pool to only present the top four to five candidates. We scour the marketplace and examine an average of 250 individuals who could be potential candidates for the position. After substantially vetting the candidates, we present you the top four to five. Additionally, we compile and provide such an extensive profile that when you actually meet these candidates, you feel that you know them more completely than you probably know your next door neighbors.
Most executive search firms present their clients with 10 to 12 candidates. That is not an efficient use of your time. At Morgan Samuels, we only present the absolute best of the best. In fact, our slate of candidates is typically so strong that clients attempt to hire more than one of the candidates in 1 out of 5 assignments!
Strategic Thought Partnership: This is a strong differentiator for Morgan Samuels. We truly partner with our clients to understand your strategic priorities and then collaborate with you to identify the human capital strategy to achieve your goals. Whether this involves reshaping your organization, executive coaching and succession planning, or simply reframing a role that you already have in mind, we harness 43 years of human capital consulting experience to coauthor the go-forward strategy with you. You cannot provide thought leadership without having the best talent, and our team is second to none.
Relationship Building Opportunities: Executive search firms like Morgan Samuels can absolutely help you build your business network. It’s quite common for our clients to provide us with feedback that we unlocked the door to a new customer, shepherded the start of a new alliance partnership, or helped them understand a key supplier better. We can foster potential business development relationships which can ultimately provide greater insight into the competitive landscape, increase sales, and impact the bottom-line for your company.
Specialization: Our clients are Fortune 500 companies that lead their respective industries by specializing in their core competencies and driving sustainability differentiation. Along those same lines, we specialize in attracting the best and brightest talent in the world with speed! Bringing top talent to the table is what executive search firms do best. And we’re great at what we do here at Morgan Samuels. It is our passion.
Sources for Market Intelligence: Executive search partners can also act as incredible sources for market intelligence. During the course of a search, we amass substantial non-proprietary information regarding market trends, compensation and organizational structure. A recruiter at Morgan Samuels is making dozens of calls a day to top executives in your industry. We arm our clients with invaluable data points regarding the market’s perception of your brand positioning, your key differentiators and your reputation as an employer.
As Human Capital Consultants, Morgan Samuels can help you understand how the leading companies in your industry incentivize their top talent, how they have organized their leadership teams and laid out succession plans to enable sustainable growth.