Posting a vacancy online, turning to LinkedIn and approaching your own network. At first glance, hiring in-house looks like a logical and efficient way to find a new CFO, Finance Director or senior finance professional. Yet for key positions in particular, the best candidate rarely comes forward on their own.
The difference lies in reach
The most important difference lies in reach. An organisation searching on its own mainly comes into contact with candidates who are actively looking or happen to be open to a move at that moment. A specialist executive search firm approaches the market far more broadly. It is precisely the professionals who are well settled and not actively applying who can be interesting for a next step. They usually do not respond to a vacancy, but are sometimes willing to have a well-considered conversation.
More than a matching CV
A successful search also demands more than finding a matching CV. In finance especially, experience, leadership style, personality and cultural fit matter just as much. Someone can be excellently qualified on paper yet still not fit the phase an organisation is in, or the dynamics of a family business, a multinational or a PE-backed company.
An independent perspective
An external search partner also brings an independent perspective. Is the role profile realistic? Does the remuneration match the market? And is the organisation actually looking for the right type of candidate? Right at the start of the process, a critical conversation can prevent a great deal of wasted time and wrong choices.
Time you win back
On top of that comes the time saved. Identifying, approaching, speaking to and assessing suitable candidates is labour-intensive. For a board or HR team, this is often something that has to happen alongside day-to-day work. For an executive search firm, it is daily practice.
The added value therefore lies not only in finding more candidates. Above all, it is about access to the right candidates, a careful selection and a better-founded decision.
Because for an important finance position, the goal is ultimately not to find someone as quickly as possible. The goal is to find the right person.