The Eight Stages of a Search Assignment to Find the Very Best Property Talent

Perhaps you’re facing the departure of one of your C-level leaders.

Or, your Development Director has decided to leave unexpectedly.

Either way, a crucial area of your property business requires a strategic leadership change.

Executive Search firms can play a valuable role in helping property businesses find top talent for such critical roles.

Whilst the very nature of an Executive Search demands discretion and confidentiality, it’s important – for you as the client – to have full knowledge of the process.

In this insight, we’ll summarise the different elements of what you should typically expect from your external search partner – and some questions to ask along the way.

Stage 1 – Briefing Session

This initial briefing plays a crucial role in identifying the right candidate and the overall success of the Search.

But even before this session, the Search firm should have done their own research. They should already have a good grasp of your business and its context.

The Briefing Session is where all stakeholders collaborate to further understand your specific challenges, business culture and clarify your strategic objectives.

It’s a time where all stakeholders can define and agree on the competencies, responsibilities and objectives of the Search assignment, as well as the required skills and industry experience for the position.

It’s an important time when all stakeholders can review and amend the job description as required

The Briefing Session is when timelines, scope and parameters of the Search including target companies, individuals and the Employee Value Proposition, are all approved.

Having these foundations in place, allows the Search firm to take a clear message and compelling offer to the target talent pool.

Questions to ask:

  • Is the Search Firm simply agreeing with your brief or are they providing constructive, consultative feedback on your requirements?
  • Does the Search firm fully understand the needs of your business, the hiring manager and all the stakeholders involved?
  • Has the Search firm clearly demonstrated their process and laid out the milestones of their Search process?

Stage 2 – Agree on Candidate Briefing Pack

Following the Briefing Session, the Executive Search firm should create and share a bespoke Candidate Briefing Pack.

The pack will be used to promote the opportunity, your property company, and to engage with candidates.

The Candidate Briefing Pack will typically include:

  • Company Overview – with an overview of the company together with its mission, vision, values, culture and ambitions. This will help candidates understand the organisation and whether they align with the company’s ethos.
  • Job Description – clearly outlining the responsibilities and scope of the position, as well as location. It will include information about the team structure, reporting lines and KPIs.
  • Ideal Candidate Profile – describing the skills, experience, and qualifications required for the role, as well as the core competencies, leadership qualities and personal attributes, essential for success.
  • Compensation and Benefits – outlining the salary, bonuses and any other benefits. Clarity will help manage candidate expectations.
  • Progression Opportunities – highlighting potential development opportunities within the business. This can also help attract top talent.
  • The Interview Process – detailing the stages and format of the assessments. This manages candidate expectations and helps them research and prepare.

Stage 3 – Researching the Talent Pool

Once the Candidate Briefing Pack is agreed, the Executive Search firm will move in to the Research and Identification phase of the assignment.

This involves systematically mapping the entire market to identify all qualified candidates, who appear to have the right credentials for the job role.

Using their extensive network of contacts and property sector knowledge, the Executive Search Consultancy will seek out talent with the capabilities and experience to match the position.

Successful candidate identification is about much more than just posting the job role on social platforms or flicking through a little book of contacts.

They’ll use tried and tested methods, often developed over years to identify the broadest spectrum of talent.

This will far exceed what internal talent acquisition teams can achieve.

In-house teams on their own are often constrained by their bandwidth, networks and Search confidentiality requirements.

The aim of Researching the Talent Pool is to develop a comprehensive longlist of highly qualified candidates.

It’s work that requires time, perseverance and patience – leaving no stone unturned in finding the very best property talent.

Questions to ask:

  • Is the Executive Search Firm looking outside of the obvious ‘active’ candidates on LinkedIn to find the best ‘passive’ talent?
  • Or are they simply posting a job advert and hoping for applicants?
  • How are they representing your company & brand in the market?
  • Are they presenting the opportunity to diverse candidates?

Stage 4 – Assessment & Video Profiles

An Executive Search firm should use agreed competency-based assessments to move towards presenting a shortlist of candidates to the client.

Carefully screening and evaluating potential candidates, will eliminate those who do not meet the minimum qualifications or align with the company’s culture.

The Search firm should carry out in-depth interviews with the longlisted candidates against the core functional and behavioural requirements of the job role.

These interviews will assess candidates’ skills, experience and qualifications, as well as their cultural fit.

In most cases, this involves several phone conversations or video calls with the candidate.

Video profiles can also be gathered. They offer a more holistic view on the candidate and provide an in-depth understanding of the candidate’s personality, characteristics and suitability.

They will also ultimately help the client make an informed decision and save critical time in the hiring process.

Questions to ask:

  • Are the Executive Search Consultants evaluating the candidates fairly and consistently against agreed criteria?
  • Do the interview notes or video profiles highlight the KPIs that you are looking for?

Stage 5 – Shortlist Agreement

Depending on what was agreed in the initial Briefing Session, the Search Firm will either jointly select the shortlist with the client or present a confidential shortlist of those they deem to be qualified and suitable for interview.

In addition to the video profiles mentioned above, the shortlist will normally include the candidate’s CV or Resume and any relevant supporting information.

Supporting candidate information can include their highlighted strengths for the role, the reasons they’re looking for a new role, salary expectations and any competencies not evident on their CV.

We complete the full search & then jointly select the shortlist for interview on completion.

Alternatively, we can present candidates as they have passed our assessment & we deem them suitable for an interview. The approach we take will be discussed & confirmed during the briefing session.

Questions to ask:

  • Is the Executive Search Firm providing all the information required for the hiring manager to make an informed selection?
  • How have they justified a candidate’s inclusion in the shortlist?

Stage 6 – Interviews

Once the shortlist of candidates is agreed and presented, internal interviews can take place.

If required, an Executive Search firm may help the hiring manager design a structured interview process, and coach the wider hiring team on effective interview techniques.

This can be valuable for team members with limited experience of interviewing, and can help to avoid hiring biases.

The Search Firm will confirm the format of the interviews with all candidates, arrange for them to meet the relevant stakeholders and complete any internal assessments.

Acting as the liaison between the hiring business and the candidates, the Search Firm will help maintain the momentum of the Search.

The Search Firm will also communicate the client’s feedback to both the unsuccessful interviewees and the preferred candidate.

Stage 7 – Presenting and Managing the Offer

After the hiring team has made their decision, the Executive Search firm will present the offer to the chosen candidate.

Once reference checks have been taken, the Search Firm will support both parties through the process to acceptance.

They can assist with negotiating compensation packages and employment agreements, to ensure both parties reach a mutually agreeable compensation structure that aligns with the candidate’s expectations and the company’s budget.

The Search Firm can also help address any compensation-related concerns.

They may also provide guidance and support during the on-boarding process to ensure a smooth transition for the new hire.

Questions to ask:

  • Did the Search Firm advise you of the candidate’s salary expectations early in the process?

Stage 8 – Delivering Onboarding Excellence

Once the candidate has signed a contract, the start date has been agreed, it’s time to start thinking about delivering a great onboarding experience.

Providing a warm welcome will help set the tone for a new hire’s career journey, and set them up for success in their new role.

Executive Search Firms can help advise clients on the key elements – preparation, orientation, training and integration – that will make onboarding effective for both parties.

Once the candidate has started in their new role, the Executive Search partner should remain in regular contact during the initial 6 months, to ensure a successful journey for all sides.

Successful Executive Search Assignments result from ongoing, transparent communication throughout the process.

As a trusted advisor to both the hiring property business and the candidates, an Executive Search firm is often the catalyst to leading all parties to a positive outcome.

Their profound understanding of a business’ vision, culture and leadership needs often leads them to become a long-lasting strategic recruitment partner.

Want to know more about how we go about finding the highest calibre property professionals for our clients?

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