Michael Thornton

“Exploring the Value of Executive Recruiters in Attracting Top Talent, Part 3” In my previous blogs, we laid the groundwork for understanding why executive search firms justify their fees, initially focusing on the critical, often overlooked factors of Expertise and Casting a wider net. In today's blog, I will delve into another crucial reason why executive search consultants are worth what they charge: cost. Employers persist in misinterpreting the actual cost of recruiting for high-value leadership positions. This can be divided into two key categories: direct recruitment costs and, more significantly, the cost of making a poor or incorrect choice or mishiring. From a tactical standpoint, recruiting costs extend beyond simply posting a job on platforms like LinkedIn and Indeed. It encompasses the salaries and benefits of the recruiting and employment staff and the line managers involved in the hiring process (who are not as productive in their regular roles while engaged in recruiting activities). Additional hidden or often overlooked costs include travel and entertainment expenses for in-house recruiting staff, external research, and source development costs, ATS/CRM databases and maintenance expenses, reference checking and degree verification, and clerical costs associated with managing responses from numerous unqualified candidates. They add up quickly and should be considered when estimating the true cost of recruitment. The cost of mis-hiring is not to be taken lightly: Misplacements lead to displacements that necessitate replacements. According to the Conference Board, 50% of senior-level hires leave within 18 months. That is a staggering statistic. It's a common misconception that the replacement cost is solely measured in the hard costs listed above. However, these only represent one-third of the true cost of a mis-hire. The remaining two-thirds encompass mistakes, missed opportunities, lost business, disruptions, lawsuits, etc. Depending on the source, the true cost of a mis-hire can range from five to twenty-five times an executive's base compensation. For instance, for an executive with a $250,000 base salary, a mis-hire could cost between $1.5 million and $6 million. Engaging a reputable Executive Search firm is not just a cost but an investment in risk mitigation and enhancing your business value. #retainedexecutivesearch #leadership #careers #talentacquisition #management

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Navigating the landscape of executive search requires a keen eye for talent and an unwavering commitment to diversity. Here's how we at Clarion Chase broaden our horizons to ensure a richly varied candidate pool: Expand the Search Horizon We look beyond the usual channels. By tapping into diverse professional networks and forums, we uncover hidden gems in the industry. Embrace Global Talent Our search is borderless. We explore talent from different regions and cultures, appreciating the unique perspectives they bring to the table. Forge Inclusive Partnerships Collaborating with organizations that champion diversity is key. These alliances help us reach a wider array of candidates. Transparent Communication We're clear about our commitment to diversity in all our communications, setting the tone from the outset. By implementing these strategies, we're not just filling positions—we're shaping the future of the industry with a tapestry of talent that reflects the world we live in. For insights into securing top-tier talent or to explore opportunities within advanced technologies, visit clarionchase.com. #ExecutiveSearch #Diversity #TalentAcquisition

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In the second episode featuring Stewart Pavitt we discuss his transition into #leadership and key learns from his career 🔔 Stewart Pavitt discusses the importance for compassion & empathy, as well as learning how to deal with people as individuals, understanding how to change your communication to suit your audience. Finally, he shares advice on having the personal discipline to excel in the areas that don't require talent 🚀 https://lnkd.in/gAQazcjH

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💰 Over-reliant on IT contractors? 🦄 Can't find the tech skills you need for your team? 🎯 This is Recruit train deploy done differently 📞Talk to me about how we're helping businesses face into critical talent shortages through tailored programmes that deliver the tech skills you need in Cyber, Software Development, Data and Process Automation

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Exploring the Benefits of Executive Recruiters in Attracting Top Talent, Part 2: In my previous blog post, I highlighted why executive search firms are of value and how they offer crucial services to meet the needs of clients seeking to recruit top talent. Talent that is not only aligned to support corporate objectives, has a consistent track record of delivering results, but importantly, also fits seamlessly into the corporate culture. A leader who will ultimately provide a higher return on your investment in human capital. As promised, this blog will delve into two key areas that illustrate how retained search consultants add value: Professional Expertise and the ability to Cast a Wider Net. Professional Expertise: External Executive Search professionals possess unparalleled knowledge of the employment marketplace. While many organizations have internal recruiting teams, these teams, due to their nature as part of the company, may have a limited and biased view of the job market. Similar to why physicians do not treat family members, internal recruiting teams are susceptible to internal pressures and cultural influences that an outsider would not be affected by. Skilled search consultants have the experience and knowledge to identify the best sources of talent. Search professionals possess the tools and resources to access the top talent in the market. Individuals who are the best fit for the job, not just those actively seeking a job. Casting a Wider Net: Just as a professional fisherman will have more to show than a weekend angler, executive search consultants are immersed in the job market every day. They have access to hidden talent sources that may never be reached through company job postings, internet job boards, or alumni associations. While these channels may yield occasional successes, it often requires sifting through numerous unqualified candidates. A executive search consultant can provide a curated selection of targeted, well qualified candidates, leaving you with the task of choosing the best fit for your organization. In conclusion, hiring a guide can significantly increase your chances of catching what you are fishing for when it comes to securing top talent. #attractingtoptalent #Careers #Cornerstone #culture #hiringandpromotion

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Hiring in the social space? Get some guidance on salaries and skillsets for the various roles. Link in the comments for our downloadable guide👇 #creativenatives

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Contingent recruitment panels/PSAs don’t work, in my opinion. The thought that you’ll get a better spread of candidates & recruiters will work harder for you in competition is an utter falsehood. I’ve decided not to take on any contingent work or be a part of any panel agreements unless I’m used exclusively for specific roles. When clients engage me exclusively, they place their 100% faith in me to deliver. I feel that pressure every day. I lose sleep over it & it profoundly motivates me to ensure I deliver them the best possible talent there is available. When you’re working contingently, it’s a sprint race; you cut corners, don’t qualify people properly, and you’re just trying to get to people before others call them & sling their CVs to the client. It leads to a terrible candidate/client experience; you don’t have time for due diligence or in-depth sourcing, meaning you won't access the best available talent. #softwarerecruitment #contingent #exclusive #panels #psa

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Facing skills shortages in the UK? We specialise in connecting businesses with skilled remote professionals to fill those gaps. Let’s discuss how our global talent pool can help you overcome these challenges and scale your business effectively. Book a call: https://lnkd.in/eBGnA97E #remoterecruitment #UKBusinesses #outsourcing #hiring #remotework

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If you were feeling swamped with graduate applications this round; You weren't alone. Clients have reported a big uptick in applications in round one of this year. Need help building an efficient and candidate friendly selection process for your graduate and/or internship recruitment? Talk to Talent Solutions!

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Spring has sprung, and so has opportunity! 🌱 The UK job market is buzzing with a 15% surge in vacancies this season. For businesses keen to capitalise on this growth, the answer lies in smart, strategic partnerships. Enter TTS 24-7, your ally in the recruitment realm. We're not just about filling roles quickly; we're about crafting connections that count. Our bespoke talent sourcing is designed to dovetail with your unique company culture and skill requirements, ensuring each placement is more than a fit—it's a fusion. Our approach is tailored, not templated. We understand that the right match goes beyond the CV. It's about understanding the heartbeat of your business and syncing it with candidates who don't just meet the mark but raise the bar. Ready to revolutionise your hiring process? Let's talk. Reach out to TTS 24-7 and explore a collaboration that's built for the long haul. Your next game-changing hire is just a conversation away. Send me a DM or call me direct on 01506 63 33 60! #RecruitmentRevolution #TTS247 #TalentSourcing

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Are you curious about the insights of industry leaders on DEI in recruitment? Thanks to our partners at Access Volcanic for this video on the changing dynamics of DE&I. Explore the changing dynamics of DE&I with industry figureheads including Ann Swain and Neil Carberry who share their insights about the challenges and opportunities facing the recruitment industry. Watch the interview to gain valuable insights into the current landscape and how the industry can act as a catalyst for change and move the agenda forwards. Watch the interview here 👉 https://lnkd.in/eWEQwsax #DEI #DiversityandInclusion #RecruitmentIndustry #BusinessImpact #ukrecruiter Louise Triance ⭐️

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Maximising recruitment processes is made easy with content marketing. If you're unsure of where to begin, head to our blog page for a step-by-step guide on how to utilise content marketing to create a successful strategy today. https://lnkd.in/eJtAJ4tZ

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Are we all coming back to the office more? Interested to read that 79% of employers and 74% of employees say their companies are prioritising a return to in-person work. Are employers and employees that aligned? LHH's 2024 Workforce Trends Report is your key to understanding what top talent craves, so please click on the link and download your copy. https://lnkd.in/eCGhh697 #onelhh #recruitmentsolutions #workforcetrends

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Medical Staffing. Who’d have ‘em? 🤔 Me, that’s who! As the market tightens up, agencies need to start making far better decisions about who they bring into their recruitment teams. 🎯 And who better to than somebody with a robust understanding of workforce management, budgets, financial processes, and governance/compliance? 💼📊 People often speak about doctors leaving permanent roles to become full-time locums and the general consensus is ‘because they can.’ When Medical Staffing start to move into the agency space, it will be ‘because they need to.’ With MSPs and VMS’ taking over Medical Staffing functions across the NHS, it seems only right for employees to start looking at where their skillsets can be effectively deployed, and where they can be far better remunerated for less work and less pressure. 💰 We are now in an economy where financial stability supersedes (sometimes blind) loyalty, and when I hear people in our industry complaining about Medical Staffing (slow responses, not proactive etc. etc.), I think – wouldn’t you be the same? 🤷‍♂️ In a role where you are managing highly paid doctors, held at ransom by highly paid agencies who may earn more commission per hour for one doctor than your hourly wage? Think again. So as things change, get proactive! There are hundreds of locum agencies and insourcing providers out there who would value your expertise and pay you well for the pleasure. And we’re one of them! Click the link below to find out more. 📲👀 https://lnkd.in/gpjNQaci

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In the most recent #EvoInspires we hear from Stewart Pavitt. Stewart shares his experiences from a successful career in tech, progressing from Junior level to CTO level. 📢 With plenty of time left in his career, Stewart discusses the importance of keeping up to date with tech in the AI era - regardless of what stage of career you're within 💡 https://lnkd.in/ezirPVm2

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🌟 Embrace the Future of C-Suite Hiring with 'Executive Intelligence' 🌟 Are you ready to revolutionize your executive hiring process? At Executive Integrity | B Corp™, we're introducing Executive Intelligence—a cutting-edge platform designed to transform how you approach C-Suite recruitment. 🔍 Our platform is engineered to streamline hiring, elevate talent selection, and seamlessly secure ideal matches for your leadership roles. But what exactly does 'efficient recruitment' mean to you? ✨ Faster hires? ✅ ✨ Reduced commercial downtime? ✅ ✨ Lowered hiring costs? ✅ ✨ Ensured 'perfect match'? ✅ If these resonate with your goals, it's time to explore a smarter way forward. Curious to learn more? Click the link in the comments to visit our landing page and discover how Executive Intelligence can redefine your hiring strategy. Let's shape the future of leadership together! #ModernHiring #EfficientRecruitment #CandidateManagement #ExecutiveIntelligence

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