For most organizations across diverse business niches, hiring new employees for various mid and junior level positions is an ongoing process. That is why a majority of small and medium level business ventures, use in-house HR professionals for handling such recruitments. However, when it comes to recruiting candidates for top management posts, even the biggest players in the field choose to seek the services of the most renowned and professional executive search companies that not only have access to a vast talent pool but also possess the necessary expertise to shortlist the most appropriate candidates as per the job requirement.
The primary focus of most executive search companies is on finding the most suitable candidates for top executive posts within the client organization. This is because the agencies are well aware of the negative impacts of choosing the wrong candidates. Bad recruitment cannot only cause financial loss to the client organization but also affect its goodwill and hamper its progress. In fact, it is believed that bad recruitments can cost anywhere between 50% and 300% of the annual salary for the post. In addition, it hinders the execution of projects and delays critical decision making, which can cause major business loss for the organization. Most importantly recruiting the wrong candidates for a top management post can deeply impact the performance of the employees working under them, which in turn can be detrimental for overall business growth.
In view of the above facts, it is only natural that most professional executive search firms tend to avoid suggesting the wrong candidates to the client organizations. In case, the job profile requirements are not met by the candidates in the vast talent pool that these agencies have access to, they might suggest the option of advertisement recruitment to the clients. This helps the clients to reach out to a greater number of prospective candidates possessing the required qualification, skills and experience. In addition to using the traditional method of advertising the vacancy in print media, modern business organizations can also exploit the benefit of advertising on online job portals and even social media sites.
However it is important for the business organizations to understand that using the option of advertising the vacancy is not a guarantee of finding the right candidate. In order to attract the right candidates, the following key factors need to be ensured while taking out an advertisement.
- Providing accurate details of the position, title, rank
- Offering clarification about status of hiring namely probation, contractual or permanent
- Brief yet precise summary of the duties and responsibilities
- Minimum qualification and experience required for the post
- Exact salary range and whether or not it is negotiable
- Desired set of soft skills
- Closing date of application acceptance
- Any other documents required to be submitted with the application
One of the biggest challenges of advertising a vacancy is to shortlist the best candidates suited for the job from the vast sea of applications received. This is where the expertise of an executive search firm can come in handy. These firms have the necessary skill and the acumen to find the most appropriate candidates for the position.