Executive search and Headhunting: What’s That, What’s the Difference, and How to Reach Effectiveness

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Let’s say you want to lure Bozoma Saint John, ex-CMO at Netflix, to your company. After she started working at the company the number of subscribers increased by 1.5 mln, having reached the mark of 209 mln. All that only in three quarters! Bozoma Saint John had promoted Uber and PepsiCo. She is an award winner of Ad Age’s 50 Most Creative People, Innovators & Stars 40 Under 40, and Fortune’s 40 Under 40. She replenishes the Forbes list of the most influential chief marketing executives in 2021. It is not enough just to send her a mail-in LinkedIn to heat up her interest in your offer. You have to use Headhunting methods.

Here’s another case. A CTO to develop one of the most expensive start-up products, whose main clients are governmental authorities, intelligence agencies, investment banks, and hedge funds is needed. The average company’s project costs $5,8–100 mln. It turns out there is a need to hire a technical director with demanding qualifications. A candidate is required to have process management experience on project teams, degree and professional development of employees’ tasks, launch and support different processes within the company. Finding a perfect match for the position is a key issue. To make it come true, they use an Executive search approach (or IT Executives search as it is also called).

Let’s discuss with Anna Reznikova, Head of Recruitment at ITExpert, how these search technologies work, the difference between Executive search and Headhunting, and how to succeed using both approaches while tech recruitment.

What is Executive search in recruitment?

Executive search is a top executive selection approach. They hold leading positions at companies and in most cases are in the passive job search. The feature of our method is focused on getting a top manager with high skills and deep experience for the vacancy but without having to request an exact professional.

Regardless of vacancy level, executive searching always combines several factors:

• high-grade position (C-level, VP);
• rare or uncommon mix of skills and technologies;
• lack of specialists on the market.

The main task of HR managers and recruiters during Executive search is to find the best candidate available, including those who are already employed.

What is C-level

C-level is the common name for the highest roles with the prefix “Chief”. Following this explanation we talk about managers who determine strategic business development and take part in major decision-making processes at the company. For example, the CTO is in charge of architectural decisions and plays a crucial role in choosing a tech stack.

Here are some of the most widespread positions of the C-level:

• CEOs (Chief Executive Officers) control all business operations, make key decisions, and are responsible for the success of the organization;
• COOs (Chief Operating Officers) are responsible for putting the strategy into practice and business plans creating, ensuring the smooth operation of the company;
• CFOs (Chief Financial Officers) are responsible for long-term budgeting and financial risk analysis, as well as for financial statements control and general financial situation;
• CMOs (Chief Marketing Officers) create and implement marketing strategies;
• CTOs (Chief Technical Officers) have such superpowers as determining tech development vision, choosing key programming languages, frameworks, tools, and architectural decisions, managing the tech team;
• CCOs (Chief Cybersecurity Officers) are responsible for the development and implementation of cybersecurity, information security, and systems resilience to cyber attacks strategy.

CEO, CTO, CMO, and other C-level specialists selection are referred to as an Executive search.

What is Headhunting?

Headhunting is a request to lure a particular person from a particular company. Let’s say, the client needs to hire Noah B., who has 20 years of experience in the IT field, 10 of which he holds leading positions in FinTech companies. Furthermore, Noah is aware of all FinTech specifics, business structure, and how to scale it.

So how does headhunting work?  Let’s imagine there’s Noah B. who is not looking for new employment opportunities. However, according to research, nearly 70% of specialists are likely to leave their current organizations to develop their careers. Headhunters start to communicate with “that one” candidate cultivating their interest to the job offer to involve the company representatives subsequently.

What’s the difference between Executive search and Headhunting

These terms seem to be disparate, but mishmash happens frequently. Hiring C-level specialists might be quite challenging. As long as you look for rare specialists it’s insufficient to publish a vacancy description and wait for responses with abandon. Sometimes there are only 5–10 relevant candidates on the market. Then the line between Executive search and Headhunting slips away while a recruiter searching for a CEO or CTO plays a so-called headhunter role and creates personalized offers.

Headhunting strategy, in return, often uses tools and approaches of Executive search, when it is essential to know the audience deeply, have an “A” from networking, and be flexible in communication. Consequently, executive search and headhunting services have a lot in common.

Executive search and Headhunting: how to start

Executive search agencies and Executive search specialists monitor up to 40 competing companies rather than access candidate databases. Before presenting CVs to the client, these specialists conduct 3–4 interviews with potential candidates. Whenever you operate executive search recruitment, it is crucial to find a balance between the employer’s expectations of candidates’ skills and the professionals who are open to new opportunities.

Headhunting works in a contrary fashion. Before attempting to lure a specialist, clarify the conditions under which they would be willing to change jobs and join your company. Keep in mind that if a person easily leaves their previous job, they may start considering other opportunities again in the future if better offers come along.

Top tips for Executive search

As for Executive search, it deals with strategic planning, mandatory goal decomposition and precise task formulation. When starting the search, the recruiter must clearly understand who they are looking for and have a detailed vision of the desired candidate for the position. Additionally, it is significant to follow these four rules.

#1 Analyze competitors

Monitor the main competitors in the field where the desired specialists might be found. If possible, talk to former or current employees of these companies. Their experience will create opportunities for the drawbacks of working for competitors and provide a more objective picture, in particular, being shown.

#2 Conduct employer analysis

Consider the pros and cons, the corporate culture of the company where you are seeking a C-level specialist. Is the employer’s product/project attractive and catchy? Which feedback do employees provide about the company? What sets it apart from others? Analyzing both tangible and intangible benefits will help you to involve candidates in dialogue and handle any objections.

#3 Develop a unique selling proposition (USP)

Think about what your company can offer to a manager within the framework of Executive search. Your goal is to convince the candidate that your vacancy represents an outstanding change in their career. To do this, prepare a compiled accurate list of arguments for “why we are better,” including growth prospects and the benefits the position offers to the specialist.

#4 “Package” the vacancy

Executive search not only describes the vacancy but presents it in a way that truly stands out to the candidate. Make sure the job description is compelling and prepare supporting materials showcased. That could be a current company video, CEO interviews, virtual office tours, media coverage, and a welcome book.

For example, Deloitte Touche Tohmatsu’s Chinese division launched an online tour in the format of a video game on their job page. Candidates could virtually visit offices in Beijing, Shanghai, or Hong Kong, interact with employees, and “walk through” workspaces, conference rooms, and training centers. As a result, candidates who responded were more engaged and interested in working at Deloitte.

3 principles to help you succeed in Headhunting

From headhunting recruitment examples to practice: we’ve compiled three key principles from professional headhunters.

Principle 1. Act quickly

The faster you respond to candidates, the less time they have to interview elsewhere. Statistics show that 23% of candidates lose interest in a company if they do not receive a response within a week after the interview, and another 46% lose interest within the first two weeks.

Principle 2. Speak the same language

Use psychological mirroring techniques to build rapport. This communication tool helps you click with the person, improving contact and increasing trust. Mirroring involves copying the communication style, speech tempo, and vocabulary of the candidate. However, avoid overusing this technique to prevent it from being perceived negatively.

Principle 3. Remember, there are no rejections

Well, almost no rejections. In sales, there is a belief that 9 out of 10 objections are excuses. Similarly, in the job market, real reasons for candidates’ refusals are often concealed. Therefore, you need to dig deeper to uncover the true objection.

How ITExpert helps in searching C-level executives and rare specialists

Skilled employees can transform a small startup into an international corporation — there are plenty of successful examples in business history. ITExpert helps build strong teams: hunting for C-level specialists, forming core teams for startups, finding personnel for R&D centers, and hiring A-players — top performers with ideas that will drive the team and help the business grow.

Our team consists of 25 recruiters who guide candidates from the first message to the offer. We work with all specialties required in the IT field. ITExpert recruiters possess technical knowledge and experience in filling various positions, even the most challenging ones, such as a Clojure engineer or a senior Java developer from the EU who has relocated to another country. We offer a candidate replacement guarantee. Our mission lies in matching smart, highly skilled professionals with excellent IT projects.

ITExpert recruiters track the effectiveness of hiring strategies, and work speed, set priorities, and utilize all available resources for candidate search. We captivate highly qualified professionals with the company during the Executive search and headhunting process and make offers that are hard to refuse.