There are quite a few executive search firms in the Boston area and other regions as well. But, you wonder, which is the best? And, how do you know it is the best? What determines that?
I’ve had these questions presented to me regularly, after all, I run an executive search firm. As a matter of fact, someone asked me that yesterday.
Let’s start with some assumptions.
- You need to hire a C-Level executive, perhaps a CEO for a family-owned or closely held business where there is no successor in the company. Sounds simple. Some firms may offer this service. It can include –
- developing a position announcement,
- development a confidential company and position profile,
- developing a psychometric assessment specifically for the position, and then presenting candidates with a series of psychometric assessments,
- conducting extensive and detailed preliminary interviews,
- conducting thorough reference and background investigations,
- aiding clients in the interview and candidate evaluation process, and
- negotiating terms and conditions of employment,
- to name more than a few.
- But what if you add in a succession-based planning process for the owners? Is this different from the few executive search firms in Boston that you are familiar with?
This can include –
- Working with ownership and the executive team to determine the functional and dysfunctional parts of the business,
- Identifying what needs to happen to improve those dysfunctional parts,
- Identifying ways to improve those functional elements along with the dysfunctional elements to develop
- an actionable growth strategy that the executive team and that new CEO can implement over time.
- You need a vision for the C-Level executive to pursue.
- Yes, if you have developed a succession-based planning process with the owners and their executive team, chances are you have developed a vision (as well as a mission, goals, and actionable strategies).
- Taken together the vision will enable that CEO to implement the succession and growth strategy for the owner.
- The strategy and plan will look out at least five to seven years and include revenue and valuation targets.
- You want an executive search firm that is local, yet regional, perhaps national, and international.
- It’s a good strategy to look retain an executive search firm that has the ability to conduct and executive search to find the best candidate for a client company. Most candidates are employed, yet they may not be within the immediate geographic reach of the client company.
- You want personal service.
- Is that too much to ask? If you are researching executive search firms in Boston – or any region for that matter, find out what level of attention your executive search process will be provided.
- Is there a executive search consultant who will provide your firm continued personal and professional attention?
- Will the personal service want to understand your company’s culture, environment, workforce, customers, vendors, community – the legacy that you want your company to embrace?
- You want guarantees on the search results.
- This sounds simple, but oftentimes it is overlooked.
- Simply stated – is there a guarantee if either the selected candidate or the company decides the new CEO is not working out?
- Ask what that guarantee is, and how long it will last, and under what conditions?
- Simply put – The Executive Suite provides up to a one-year guarantee.
I trust these simple, yet effective comments help in finding an executive search firm in Boston. Remember, owner and company-specific needs should be considered and addressed.