Executive search is a specialized recruitment service wherein, organizations pay certain agencies to find qualified candidates for senior positions in the company. Executive search firms NYC also work to find candidates for jobs with a specialized skill set, in the public and private sector.
How to start an executive search firm
Starting an executive search firm can be lucrative but requires a lot of hard work and liquid assets. Below are the basic steps to start an executive search firm.
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1.Find your niche
Executive search firms Vancouver work in a specific niche. Hence, the first step to starting a successful firm is to find the right niche.
For people with specialized careers, this niche will be easy to find. Use the most successful executive search projects completed in the niche as examples to help your firm attract business. For others, it is best to choose the industry in which you have most successfully completed executive search projects.
No matter what niche you choose, specializing will give you an advantage if you have direct experience hiring executives in this niche.
2.Proving your success
Identify the highest-profile executive search projects that you completed in your niche. These will be the examples you show to your client company. Also, identify what executive search projects you have completed outside your niche that can still be used as good examples for clients.
3.Assess your competitors
Once you decide on a market, you should assess the other staffing agencies you are competing with. You can do this using simple SWOT analysis and the 4 Ps analysis. This will help you determine how you stand out and where you need to improve.
4.Build Your Brand
Begin by creating your logo and user-friendly company website. This will attract more clients. You must also create an account on social media platforms and LinkedIn.
5.Create a marketing plan
Identify the target audience within your niche and some companies that you can serve better than your competition. Then, create a marketing structure and find out what tools and skills you can use. Finally, pick the right channels to connect with these people.
6.Secure Executive Recruiting Talent
Secure talented executive recruiters for your firm before you sign your first client.
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7.Invest Executive Search Tools
To make your executive search firm's NYC successful, you need good digital executive search tools. These tools should manage communication with clients and candidates, gather extensive career information on candidates and identify passive candidates.
8.Find Your First Client
Now, all that's left to do is to find the first client for your executive search firm. While engaging with a client, you must prove that you are trustworthy, experienced and capable of handling their most important hires.
9.Promote your firm
This is important to further attract businesses. Promote your firm to people in your network and ask them to talk to people in their network. You can also post advertisements on social media platforms or directly approach companies on job search platforms and LinkedIn.
How much can you earn?
Executive search firms Vancouver earn 25%-35% of the placed candidates first-year salary. Executive recruiters work on retained bases. This means that unlike a recruitment agency, which are only paid if a candidate gets a place, executive recruiters work to get paid upfront and even receive additional payment once the job is done.
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