Like any quest to find the perfect hire, there are variables that affect the outcome of the search such as industry and position requirements. How quickly a position is filled relies heavily on the client’s rate of response regarding feedback, interviewing candidates, and offer presentation. Other factors such as difficulty of the search and a candidate’s personal timeline for making a career transition impact the search. Understanding industry trends are critical for setting the expectations of a search; however, it is important to keep in mind that a trend is not a guaranteed result.
C-Suite executive searches focuses on the recruitment of executive-level management such as the chief executive officer, chief operating officer, chief financial officer, and other positions. Most commonly, this level of recruiting requires a high degree of discretion, accuracy, and flexibility. All C-Suite positions impact the organization and often play major roles in setting strategy and leading the organization to a more profitable and competitive future. Therefore C-Suite recruiting should be done by industry experts who are able to successfully navigate this critically important level of an organization.
Looking specifically at C-Suite Recruiting, a hiring manager or search committee may wonder what the recruitment metrics may look like. JMJ Phillip Executive Search examined the past 5 years of placements to determine what industry standards for C-Suite searches looks like. On average, it takes 200 candidates sourced who match the requirements as laid out on paper. Out of those 200 candidates, on average 18 candidates are submitted to the client, who are interested and meet predetermined requirements. From there, roughly 16 interviews are conducted before a hiring decision is made. This creates an 89% interview ratio for client submissions, which is the highest ratio across all sectors of recruiting.
This data is important because it allows the hiring committee to set expectations of a search. Overall, C-Suite recruiting patterns illustrates a trend of precise candidates that will successfully fill the search. In future articles, we will discuss the variations across each level of an organization to better understand recruitment patterns.