A strong, humming economy is virtually never bad news for employers, with one exception—when it comes time to hire for executive and C-level positions. Strong economies mean that all of the top-tier, STAR executive talent is likely already employed and enjoying competitive benefits. This is particularly true in competitive industries like ecommerce, CPG, and private equity.
If your business is trying to recruit a product management executive and you’re not contracting with skilled, professional product manager recruiters, you’re already a step behind. Here are a few ways your hiring process is underperforming if you’re trying to secure top talent without recruitment professionals by your side.
Your Executive Hiring Process Is Too Long
There are two key reasons that brevity in an executive hiring process is crucial. One of them is money, particularly when a corporation opts for an internal hiring process. The longer you spend seeking, interviewing, and ultimately rejecting mediocre candidates, it impacts the bottom line—loss of revenues. The second reason is that the true STAR talent is not going to be on the market long. Gifted candidates get snapped up quickly. In fact, the chances are good they’re all already employed.
You’re Not Sourcing STAR Talent
The right executive recruitment firm will have deep industry networks that reach employed professionals you wouldn’t be able to source on your own. That STAR candidate you need to revolutionize your ecommerce team has been noticed and isn’t handing out resumes. The only reliably successful method for plucking an ecommerce rock star from among the talent pool is partnering with talented, expert ecommerce recruiters. Recruiters that specialize in ecommerce or any other competitive industry will have the contacts, the know-how, and the sourcing skill needed to find candidates with demonstrated records of success in the role you need to fill.
You’re Not Investing in a Professional Partnership
When a business needs their accounts balanced, they enlist the services of professional accountants. They would hire professional electricians to rewire an office. An important, specialized task should be done by specialized professionals. Internal hiring teams often just don’t have the time, technology, and skills necessary for sourcing and evaluating true top-level talent. Recruiters that specialize will have deep industry expertise and a more comprehensive understanding of an industry as a whole. Seek out a boutique executive recruiting firm with decades of combined expert experience, a detailed understanding of how to assess soft skills and specific culture fit, and everything else it takes to ensure the best C-level hire possible.