In the relentless pursuit of top-tier talent, businesses are perpetually grappling with the decision between in-house recruiting and executive search services. Each approach boasts distinct advantages and challenges, making the choice a pivotal one for organizations seeking the perfect fit for their key positions. Let`s have a look at how to navigate the nuances of both methodologies to empower decision-makers with the insights needed to align their talent acquisition strategy with organizational goals.

The perks of In-House Talent Recruiting

The allure of in-house recruiting lies in its perceived cost-effectiveness. Organizations can sidestep the substantial fees associated with executive search firms, redirecting those resources towards other strategic initiatives. Internal recruiters are also armed with an intimate knowledge of the company’s culture, values, and specific job requirements. This familiarity becomes a valuable asset in identifying candidates who not only possess the requisite skills but also seamlessly integrate into the organizational fabric. On top of that in-house teams seemingly excel at responding promptly to hiring needs, ensuring a streamlined and efficient hiring process while they can, at the same time, always keep an eye on identifying and nurturing internal talent. This focus on internal growth contributes to enhanced morale and increased employee retention.

The perks of Executive Search Services

While the internal solution sounds quite useful, it can be missing some integral aspects for hiring success. One of which being the access to a larger talent pool. Executive search firms specialize in casting wide nets, accessing an extensive talent pool. This proves particularly advantageous for high-level executive positions where finding the right fit can be a challenging endeavor.

In the realm of specialized roles, executive search firms bring a wealth of industry-specific knowledge to the table. Their expertise is instrumental in identifying candidates with niche skills and experience. Furthermore, engaging executive search services liberates senior leaders and executives from the intricacies of the hiring process. This, in turn, allows them to focus on strategic decision-making and core business functions. And: For positions shrouded in sensitivity or confidentiality, executive search firms offer an additional layer of discretion, mitigating the risk of leaks or internal disruptions.

Which way to go?

In the conundrum of in-house recruiting versus executive search, a one-size-fits-all solution remains elusive. The optimal choice hinges on factors such as the nature of the position, budget constraints, and the urgency of the hire. A nuanced approach, perhaps a hybrid strategy, might be the panacea. By amalgamating the cost-effectiveness and cultural acumen of in-house recruiting with the broader talent pool and specialized expertise of executive search services, organizations can forge a comprehensive and effective talent acquisition strategy. Regardless of the path chosen, the crux lies in aligning the recruitment strategy with the overarching goals and values of the organization. The talent hunt, after all, is a strategic endeavor that necessitates a carefully calibrated approach. If you like to exchange ideas around this, get in touch!

by Stephan B. Breitfeld

Der Beitrag The Talent Hunt Dilemma: In-House Recruiting versus Executive Search erschien zuerst auf Blog | kanzlei.jobs.

23. Januar 2023

By Stephan Breitfeld 

I recently read an article written by a young woman, explaining why she didn’t strive for a career. Why indeed she thought we should stop working altogether and enjoy some unemployment. Of course the article was probably meant to ruffle some feathers but it got me thinking: Do we actually still have something of a „generation contract“?

What contract do generations have?

The „generation contract“ is a concept that refers to the social and economic expectations and obligations that exist between different generations. It is a kind of unwritten agreement between different age groups, where each generation has certain responsibilities towards the others. However, in recent years, the generation contract has become less clear, and the expectations and obligations between generations have shifted. There are several reasons for this change, including demographic shifts, economic insecurity, and changes in social values.

Let’s have a closer look at the latter: Changes in social values have led to a shift in expectations between generations. Younger generations may prioritize individualism, personal fulfillment, and social activism over the traditional values of hard work and respect for authority. This can lead to conflicts with older generations who may not understand or appreciate these values. The validity of the generation contract is a matter of debate, and there is no clear consensus on whether it still holds true in today’s society.

Everybody’s signature?

On one hand, some argue that the generation contract is still relevant and necessary. They argue that each generation has a responsibility to support the others, both financially and socially, and that this is essential for the sustainability of society. On the other hand, there are those who argue that the generation contract has become less relevant in today’s society. They argue that economic, demographic, and cultural shifts have made it more difficult for different generations to connect and work together.

Ultimately, whether the generation contract is still valid or not depends on one’s perspective. While there may be some truth to both arguments, it is important to recognize that the relationships and expectations between different generations are complex and multifaceted. It is up to each individual and society as a whole to determine how they want to approach these relationships and obligations, and to work towards building a more inclusive and sustainable future for all generations. Despite these challenges, it is important for different generations to work together and find common ground. The generation contract is not a one-way street, and each generation has a responsibility to support and respect the others.

In the end, the generation contract is being renegotiated constantly. While older people might want to cash in on their contribution during their work lives and discover a younger generation that seems unwilling to do their part, there is a huge demographic problem, that no generation can ignore. What does it take to reinstall the balance? Is the contract even still there? What do you think?

Der Beitrag The dying wish for a career – can we dig out the generation contract? erschien zuerst auf Blog | kanzlei.jobs.

20. Dezember 2022

By Stephan Breitfeld 

If you ask me to characterize 2022 with just one word, I’ll go with “extreme”. And perhaps “uncertain”. Aftermath of the pandemic, rampant inflation, raging war – all of those are factors that are changing and influencing the business climate keeping the race for hiring senior talent remain extremely strong. Now, as another challenging year is coming to its end, let’s take a look at where current trends lay and what the important takeaways for the upcoming (hopefully less challenging or at least more certain) year are.

Retirement wave and post-pandemic supply shortage

Don’t want to sound cynical, but let’s face it: baby boomers are getting older. This, of course, has direct repercussions for the executive search, since the average age of pharma leaders is 58 (check out this study of CEOs at the Top 50 Biopharmaceutical Companies (2018), a quite interesting read). The retirement wave in MedTech, Pharma, and Biotech has heightened the demand for Director/VP level personnel to fill the gaps of senior retirees. So, keep your eyes open – new directors are needed, and they are coming!

Although the COVID pandemic has become rather history (well, at least in some places), its consequences are going to haunt us for years to come. The post-pandemic supply shortage is a real problem, and it should be dealt with respectfully. It is responsible for creating strong demand for transformation managers, whose value has grown significantly in the past year. You see, identifying an area of opportunity within a company and implementing processes to change its performance for the better – a very simple description of what a transformation manager does – is something of increased usefulness in turbulent times.

What else is in demand?

At this point, sales and marketing have taken the central stage. Together with more traditional business development and R&D sectors, they make the most demanded functions in MedTech, Pharma, and Biotech. But wait, it’s not that straight forward! It’s crucial that successful candidates demonstrate experience in transformation (see above). And keep in mind interim management – there is a higher demand for those positions currently, as executive search doesn’t always keep up with the changing trends and stormy business climate.

Sacrifice to be made…

Another interesting development is that HR teams are increasingly using Recruitment Process Outsourcing (RPO) for middle management positions (external providers rejoice!). Hiring specialists for the analysis of a particular position’s requirements, the process of alerting qualified individuals to the opening of the position, the screening and selecting of qualified applicants, can at times be more efficient than relying purely on the in-house HR team.

Also, good news: we can see a substantial increase in middle management salaries! On the other hand, increasing amount of job seekers are willing to sacrifice part of their salary for more freedom and work-life balance. Does it have to do with the post-COVID sentiment, or with the idea that millennials and Gen Zs are less inclined to think in “classic” capitalist terms of financial success and hard work? Or maybe a bit of both…? Time will show.

What the future holds

And finally, please allow me to present the elephant in the room! Geopolitical conflict (aka an outdated way of dealing with disagreements, aka war) is raging in Europe, which had significant repercussions on pretty much every aspect of business environment. If economic and geopolitical circumstances do not improve in 2023, very high demand for people who do the groundwork (blue collar) is expected together with a restrained market for Management and C-level positions. Let us stay hopeful, for good always prevails.

In any case, Merry Christmas and Happy New Year!

Der Beitrag Executive Search trends for 2023 erschien zuerst auf Blog | kanzlei.jobs.