During the time period after World War II, the pace of the global economy quickened. Consumer demand, industrial and technological innovation, and competition made it very difficult for organizations to successfully identify, recruit, develop and retain the people resources needed to keep up with the economy.
Business organizations in the late 1950’s did not have the skills, time, or a consistent process for recruiting and retaining the quality human capital required to meet and exceed their business objectives.
As a result, the Executive Search industry developed as a functional off-shoot of the early management consulting firms.
Benefits of the Early Executive Search Industry
- Recruiters were skilled at recruiting
- Cycle time was reduced
- Quality candidates that “fit” the hiring organization were justified financially
- Retention improved due to a consultative approach
Why It’s Still Relevant Today
It has often been said the Internet changed everything. It obviously had a huge impact on the search industry with companies like Monster.com and LinkedIn emerging. They have impacted the paradigm for lower-end recruiting by both decreasing cost and cycle time for many organizations. However, even with the downturn in 2008, the competition for top talent remains high. Both technology and the pace of business are accelerating, leaving hiring managers little time or expertise to hire high quality employees. Retained executive search is more critical than ever. Contingency recruiting is about transactions – people in seats. Retained search is about relationships and getting the right people on the bus so an organization excels. There is high value being provided by retained search firms today.
What You Should Seek In An Executive Search Partner
- A strong track record of success
- World-class reference clients
- A relationship based on mutual trust
- Innovative HR processes and technologies
- A commitment to quality and getting the placement right