Good value executive search for financial services - what are we talking about? Cheap executive search for financial services? Well as someone once said “if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur”. Are we therefore talking about expensive financial search for financial services? Taking a usual fee and adding 20% to it? Of course not. A service which only mega-corporations can afford? Definitely not.

What we’re talking about is value. Good value executive search for financial services. Like many service firms, a key differentiator is your talent. This unlocks relationships, this delivers expertise to clients, this helps you achieve the strategic aims of shareholders. Importantly, quality talent improves your enterprise value or share price. A team move, often cheaper than an acquisition, but a move which can accelerate growth is a tried and tested way of increasing value. What value would you ascribe to a hire, which significantly improves the value of your business? Or to a hire which solves your current business problems?

Executive search doesn’t cost more than contingent recruitment. However, payment is made in stages as the process develops, but in terms of value for money it far outperforms paying a contingent fee. Executive search is a service which can unlock the very best of the talent market, exclusively for you. It can help identify off market talent, the selection process is rigorous, the data and reporting extremely useful, and appointment of the highest quality of candidate – invaluable.

For us, the key ingredients can be broken down into the following:

• Industry expertise – the executive search firm should have a deep understanding of the financial services sector, including specific roles, regulations, and challenges. This expertise helps in identifying candidates with the right skills and experience.  
  
  
• Network and connections – a strong network within the financial services industry enables the executive search firm to tap into a pool of qualified candidates, who may not be actively seeking new opportunities.  Your executive search partner may well know individuals who’ve overcome the same problems your current firm has.
  
  
• Customised approach – your search partner will tailor its approach to the unique needs of the financial services client. This involves understanding the organisational culture, specific job requirements, and the desired leadership qualities.
  
  
• Transparent process – a transparent and communicative process is essential. The search firm should provide regular updates on the progress of the search, share insights into the market conditions, and be open about any challenges faced during the recruitment process.
  
  
• Focus on diversity and inclusion – given the importance of diversity in the workplace, a good executive search firm should actively seek diverse candidates and promote an inclusive hiring process. This aligns with the growing emphasis on diversity and inclusion in the financial industry.
  
  
• Risk mitigation – identify potential risks in the hiring process and develop strategies to mitigate them. This includes assessing candidates not only for their technical skills, but very importantly for their cultural fit within the organisation.
  
  
• Long-term relationship building – a good executive search firm should aim to build relationships with its clients. This involves understanding the evolving needs of the financial services industry and staying updated on trends that may impact hiring.
  
  
• Accelerated integration – a comprehensive executive search service extends beyond the recruitment phase. The firm should provide support during the onboarding process and follow up with the client and the placed executive to ensure successful integration.

Ultimately, it’s about the quality of the service, the transparent process and candidate hired. Their impact on your business and the satisfaction in knowing that the widest possible market has been considered and all suitable candidates approached. It’s a calculation of the value having the best available in your business means to you. It’s also reminding yourself that you don’t pay anymore than you would if you hired via a contingent recruitment firm. In short, you’re making your money go further, which is the very essence of value for money.