Filling more general or lower-level positions can often be done successfully in-house, but finding top executives, especially in a niche field like Payments, FinTech or eCommerce, typically requires more direct recruitment knowledge and necessary time to devote to the endeavor that may not be available within your organization. An ideal solution is to outsource recruitment for higher level positions to an executive recruiting firm. Learn more about the benefits of using a recruiting firm to find top executives in your niche:
More Targeted Candidate Pool
Recruiting firms focus on searching for top prospects, networking, and maintaining relationships, so they tend to have not just a more expansive candidate pool, but one that is high quality and industry-focused. By working with a recruiting firm, you are likely to receive more qualified leads, as opposed to advertising on your own, in which you may be dealing with a limited or overly general candidate pool.
Success Rate of Hires
The advanced level of knowledge recruiters have in evaluating candidates tends to result in a higher success rate of hires than if you do it on your own. They know how to assess for skills and qualifications, but also how to determine cultural fit, interpret personality traits, and uncover red flags. Working with a niche recruiting firm can cut down on bad hires, which are especially detrimental to organizational success at the executive level.
When you’re trying to attract the best of the best in terms of executive candidates, working with a recruiting firm can provide you with industry expertise and best hiring practices they have experienced with comparable companies. You can gain an insider perspective on what has been shown to be effective for companies within your niche, stay up-to-date on current compensation trends, and learn what candidates really want in a potential employer.
Length of Hiring Process
When you’re dealing with top executive level candidates in a specific niche, time is truly of the essence in terms of extending an offer. Since recruiting firms handle much of the time-consuming preliminary screening, you and any other decision-makers within your organization will be in a better position to make the final call in a timelier manner and prevent the risk of losing your top choices to a competitor.
If you’re considering working with a recruiting firm to find top executives, turn to IMPACT Payments Recruiting [link to website]. IMPACT has been proud to serve the payments and fintech ecosystem since 2000. As the largest firm in North America dedicated to this industry, we pride ourselves on introducing our partners to the best talent in today’s market that are not found on job boards. With the largest network of payments and fintech candidates worldwide (110,000+), we have placed more than 3,150+ professionals worldwide with an industry-leading retention rate of 94% of candidates still employed after one year. With several members of our staff coming from the industry and holding numerous chairs on payments and fintech-related committees, we can adhere to our client’s every need, while having an intimate understanding of the candidate profile they seek. This allows us to help our partners quickly locate, attract, and retain the right candidates.