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  • Writer's pictureMeyrick Consulting

The Real Value of an Executive Search Firm


It's been a while since we spoke about what we do, but rather than tell you how we place high performing leadership talent within the food and ingredients industry - and how we have have supported businesses of all shapes and sizes, dotted right across the globe. I didn't want to do this. So, instead I've put together an outline of "the real value" an executive search firm can offer your business. Even if Meyrick Consulting isn't right for you - you really should consider building a relationship with a firm BEFORE you have that need.


But why exactly should you consider engaging with an Executive Recruiter? Well, These hiring experts can save you time, money, help improve your team's dynamics, reduce lost opportunity, and minimise the threat of making a bad hire! Plus, with their industry knowledge and connections, they can help you in so many other ways outside of filling that business critical role.


Why should we take notice?

Executive Recruiters are not your average recruitment company. They're the superheroes of the hiring world, with the know-how, expertise, and network to find, engage and assess top leadership talent quickly!


Time is Money

"Time is money" is a popular adage, and it couldn't be more true when it comes to the hiring process. Your time is valuable. You've got a business to run, a bottom line to optimise, and countless other tasks vying for your attention. The last thing you need is to spend countless hours wading through hundreds of CVs of mismatched candidates, only to find that none of them really hit the spot.


There are many studies out there claiming it takes xx days to fill a leadership role and whilst we often require 4-6 weeks to get a quality shortlist to a client, the real time to hire comes after this.


Most interview processes at this level include at least two interviews, three stages can be normal. Remembering that often the best candidates are currently in a job, then add in the fact you will have multiple stakeholders to sync with - scheduling interviews can be a challenging task. Let's add 3 weeks for all three stages (and this is optimistic).

Then consider the notice period of the person you want to hire. Some organisations have 6-month notice periods in place for key leadership roles.


So in reality, even the most streamlined, proactive approach to filling a role could take up to 12-months when handled internally. The reduction in time to hire an executive search firm offers isn't just a reduction in time, it's a massive reduction in the cost too.


Missing the point...

Sometimes, no matter how hard you try, your team just can't seem to get it together. Maybe there's a lack of leadership, or perhaps your team is just not working cohesively. Whatever the problem may be, it can have a serious impact on your business. And, if you're missing key players it can be even more devastating.


An executive search firm will be assessing leaders regularly, placing them inside companies just like yours. Imagine spending every day doing a single, highly specialised job - you'd become pretty good at it right? Well, this is the real value of an executive search firm. They understand what makes a great leader and have the expertise to identify, engage and assess top talent in your industry.


A lack of leadership within a single department can create chaos, leading to reduced morale, failure to achieve key business objectives and even loss of current team members.


Loss in Revenue and Opportunity

When your business is missing key players, it can result in a loss of revenue and opportunity. For example, if you're lacking top talent in R&D, you may miss out on important breakthroughs that could take your business to the next level. Similarly, if you're missing key players in Supply Chain, you may struggle to reduce costs, which could impact your bottom line.


But, with an Executive search firm in your corner, you can be confident that you have a partnership capable of filling those key leadership roles quickly with as little pain as possible.

This is the importance of building a relationship with an executive firm before you have a need.


Here are just two examples of business critical leadership roles that have a direct and immediate impact on a businesses success:

Developing at pace...

R&D is critical to the success of any Food and Ingredients manufacturing company. Without top talent in this area, you risk missing important breakthroughs that could take your business to the next level. The technologies being developed in the food and ingredients industry are plentiful. Staying ahead of these developments is key to staying ahead of your competitors.


An Executive Recruiter can help you find top talent in R&D. They understand the importance of this area and have the expertise to identify the best candidates for your company. With their help, you can ensure that your R&D team is well-equipped to drive innovation and bring new products to market.


Cost engineering...

Supply Chain is another critical area for Food and Ingredients manufacturing companies. It plays a key role in reducing costs and maximizing profitability. But, without the right team in place, you may struggle to achieve these goals.


By untilizing the network of an executive search firm you can quickly identify the key players in this space - those capable of transforming bottom lines and creating profitability.


Conclusion

I'm not saying we have the answers to all of your business woes. But, by not having a strong partnership with an industry specialist executive search firm - you could be opening up your business to unnecessary risk.


Meyrick Consulting is a specialist executive search firm operating exclusively in the food and ingredients industry. Let's start by building a relationship before you have a need!
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