An executive search is a key event in the life of an organization. Recruiting, hiring and evaluating a potential new executive is not only a basic function of management, but in fact may be the most important task management or a board undertakes. Hiring the wrong person can be a disaster financially, politically and strategically. The cost of replacing and retraining a top-level executive is estimated to be a minimum of 2 times the annual salary of the executive. Retaining a mediocre hire sets back the organization's forward momentum and sends a negative message to the staff, clients and competitors.
Executive searches conducted by search professionals typically produce significantly better outcomes for two reasons.
First, candidates are of higher quality. As a neutral third party, Brooke Chase Associates, Inc. confidentially reaches out to select executives that are currently employed. Rigorous screening and personal interviews produce finalist candidates who are performing well in their current roles and motivated to pursue your opportunity
Second, a search consultant brings a fresh perspective to the organization, focusing on "fit for the corporate culture" as well as the position criteria. You can teach skills, but if there isn't a good cultural fit, the new executive will have marginal or even no success at all.