In a new article, “12 Reasons Why Companies Hire Executive Search Firms“, Hunt Scanlon Media (HSM) has partnered with UK-based executive recruiting organization CNA International to discover why and when retaining a headhunting firm is advantageous.
HSM writes, “…At the end of the day, while you can get a lot of lift from employee referrals, job postings, and of course the big daddy of them all – LinkedIn – there is no service available…to simply download a thoroughly vetted, interested, and qualified A-player. Nothing, it seems, is comparable to an executive recruiter.”
Our Chairman Russ Reynolds is featured in the article, with his commentary serving as one of the top 12 reasons companies hire executive search firms:
“You lack internal bench strength and have few successors to your senior executives. If you sense a key executive might be on the verge of leaving or that you could benefit from top-grading, a succession bench might help you tee up executive hires in advance of need. Three quarters of HR leaders in a recent poll identified leadership succession as their primary internal challenge. And it is at the very top of companies where succession planning can, and often does, go lacking. “My advice for every company is to be prepared,” said Russell S. Reynolds Jr., founding chairman of RSR Partners, a leading board and executive search firm based in Greenwich, Conn. Mr. Reynolds said that beyond fiduciary and human resource reasons, it is simply good business sense to “know who your successor is at all times.” Proper corporate governance, he added, warrants that boards and sitting chief executives be “very close on the issue” and have a confidential succession game plan in place at all times. “One has to assume that things can go wrong, and they often do,” he said. “Any good CEO or board chairman worries about this and has a plan.” A good search firm, he added, can of course be a huge help.”
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