When it comes to hiring for senior-level positions, organisations often have to decide between executive search and executive recruitment services. Although both services aim to help organisations find top talent, they have different approaches. Understanding these differences can help organisations choose the best service for their specific needs. This blog post will explore these distinctions, keeping in mind the unique challenges of New Zealand's labour market.
What is executive search?
Executive search is a highly specialised service designed to attract high-calibre leadership talent. These firms tap into their extensive industry networks to identify potential candidates who may not be actively job-seeking - also known as "passive candidates".
With an in-depth understanding of the executive recruitment process, these firms are adept at assessing organisational needs and identifying candidates who align with them perfectly.
They also have the resources for thorough background checks, reference checks and psychometric assessments, ensuring that you make informed decisions about whom to hire.
In New Zealand's tight labour market, where the unemployment rate is low, executive search is a particularly useful method. The ability to reach passive candidates can be a game-changer when skilled workers are scarce.
What is executive recruitment?
Executive recruitment takes a broader approach, focusing on finding suitable candidates for positions across all levels, including senior roles. Firms offering this service typically have a vast database of candidates interested in exploring new opportunities and leverage online job boards and other marketing channels to reach an even wider pool of talent.
This approach can be beneficial if you're looking to fill a position quickly or working with a limited budget but still want access to quality candidates. However, such firms may lack the deep industry expertise or extensive network characteristic of executive search firms.
Making a choice: what does your business need?
The choice between executive search and executive recruitment hinges on your specific needs:
For critical senior-level positions where finding the absolute best candidate is paramount, executive search is likely your best bet.
If speed or budgetary constraints are significant factors, or if you're hiring for multiple levels within your organisation simultaneously, consider executive recruitment.
It's worth noting that New Zealand's labour market adds another layer of complexity. With rising wages and shortages in skilled workers across sectors like technology, finding the right fit can be challenging.
In such an environment, services like executive search become invaluable as they offer access to top-tier talent - even those not actively seeking new roles that might otherwise remain off-radar.
Concluding thoughts
Whether you choose executive search or executive recruitment largely depends on your organisation's unique needs and circumstances.
Both services offer distinct advantages: while one provides depth through specialised focus (executive search), the other offers breadth through its wide-ranging approach (executive recruitment).
Remember that successful hiring isn't just about filling vacancies - it’s about finding individuals who will contribute significantly to your business' success story over the long term. Therefore, take time to understand what each service entails before deciding.
Want to know more?
To understand more about executive search versus executive recruitment, contact us today.
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