21

December

How the World of Executive Search is Changing

There is no doubt that technology and the rapidly-shifting business landscape have impacted the world of executive search. The market has changed and so have the tools and methods used to succeed.

What specifically has changed about executive search recently? Quite a bit. While much of the industry looks the same, some changes are driving the industry forward and enlisting the help of innovations to stay ahead of the curve.

Smarter Talent Searches

Executive searches are getting smarter every day. They must keep up with the fast-paced speed of today’s on-the-go business world. Smart searching not only helps to expand talent pool, but it can help take the hassle our of screening candidates. Using browsing data, many companies are personalizing the hiring process.

This data helps to serve positions that are more relevant to a candidate’s interests, whether by company, industry, or title. Not only can this personal experience save time for recruiters and hiring managers vetting candidates, but it also saves those same candidates time. A streamlined, candidate-focused hiring process creates a much more positive experience, one that is likely to foster great candidate leads during future talent searches.

Digital Disruption

The business news cycle is continuously talking about artificial intelligence and its effect on all industries. Just as “the cloud” took the business world by storm, AI is booked as the solution to all headaches that face many businesses. However, what is AI doing in the world of executive search?

Automation is the real advantage of AI in the recruiting industry. Programs that automate candidate screening, job posting, and even client and candidate interactions through chatbots. These necessary tasks that would typically take a lot of time away from the search are being automated and giving executive recruiters more time to find and place candidates.

Although the time savings that AI offers any industry are great, many experts a leery of full automation. Much of the executive search industry is based around face-to-face interactions; a trend that likely won’t be replaced by machines.

Data and Regulations

The other side of the coin surrounding technology and data in recruiting is the new rules and regulations that come with it. The collection of users’ browsing and personal data has been a hot-button issue concerning both privacy and security. With many large-scale data breaches in the news, governments around the world are cracking down on what data can be collected and how it can be used.

Strict compliance with new regulations is imperative for any hiring director, but especially executive search firms. One failure can be costly and could even lead to a business being forced to shut its doors. Make sure your team is not only aware of the changing regulations affecting executive search, and make sure you have safeties in place to prevent any incidents

Consulting Partnerships

On top of the changes facing talent searches, the expectations of executive search firms are shifting too. Many firms reach out to their partners and client outside of active searches to act as a consultant. By keeping in contact, the search firm can offer extra services to address the needs their clients have.

Along the same line, this constant communication allows search firms to identify areas that may need more attention than others and adapt their services to serve their clients better. This allows the firms to be agile and make sure they are effective, but also to build new and ongoing relationships even when clients aren’t in need of talent.

Are you looking for an executive search partner to go above and beyond to suit your needs?

Let MJS Executive Search Find You Transformational Talent

Does your company need a dynamic and forward-thinking leader? Get in touch today and learn more about how we find and place transformational talent.

 

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