1. Client Meeting
The process starts with hiring a client company meeting the search firm and outlining its search requirements, organisational strategy, corporate culture and other key aspects. The search company, then delves deeper into the company's structure and search for lucrative job opportunities and then define a candidate profile which aptly matches with the needs of the organisation.
2. Market Analysis
The search firm indulges in a deeper analysis of the market and create a job profile after considering all the factors. The purpose of doing market analysis is to get the nerves of the market and the competitive environment. The candidate specification document created at this stage is used in the entire recruitment process.
At this stage the search firms explore each and every strategy and source to grab the top talents available in the market place by delving deeper into the market. The various databases are collected and analysed by team members. They make a judicious use of social media tools to get the necessary talent. Through this a list of potential clients is created which is called talent mapping. After talent mapping, search firm starts identifying whether the candidates are suitable for this particular job profile or not.
4. Creation of a short list
The executive search firms conduct a number of internal meetings and interviews with the candidates to identify the potential candidates. A number of client companies give their own shortlisting formulas to the search firms, else they do it on their own. Once short listed, the executive search firms conduct a basic background checking of the candidate and verify the credentials. The shortlist is then presented to the client company.
5. Further narrowed list
The client company then works with search consultants for further narrowing down the list presented by search firm; by focusing on reference checks and SWOT analysis of the candidate. Then the remaining candidates are called for an exhaustive interview with the people from the client company.
If the client company selects a candidate, then offer and negotiation talks take place. The search consultants make sure that during the negotiation the needs of both the parties are satisfactorily met.