5 Reasons Banks and Credit Unions Need Industry Specific Search Firms

02.24.2014

So you are a community bank or credit union and are looking at search firms to fill your next senior level position. What are the advantages of going industry specific?

ACCESS: Search firms that have substantial history and longevity in your market will have a much deeper internal database of potential candidates. Instead of having a database filled with many industry titles and candidates, a banking specific search firm will ONLY have a database of bankers. Therefore, tapping into that access should substantially reduce hiring times as well as deliver higher quality applicants.

EFFICIENCY: Because your banking search firm only job is to talk to and recruit bankers, you are able to utilize an industry specific professional team dedicated to your hiring need, freeing up more of your time and resources. Furthermore, it is important to partner with a firm that has an efficient way to communicate their candidates to you throughout the hiring process.

PRIVACY: A reputable baking search firm will maintain the highest amount of confidentiality regarding your institution and the position being sought. MORE INFORMATION: Executive Search Firms are third parties; therefore, they can mine for more information such as reporting and salary details, as well as other sensitive data that might not get disclosed to you right away. Moreover, search firms, more often than not, can coordinate and perform reference and background checks.

EXPERTISE: You wouldn’t want to have a master plumber work on your roof. Therefore, to get the most ROI for your hiring needs, especially if it is for a higher level position, it makes the most sense to choose a firm that ONLY recruits and specializes in the banking industry.

Smith & Wilkinson is a banking specific executive search firm that has operated since 1998. Our staffs of highly trained recruiters deliver unparalleled results for the hundreds of banking clients throughout the Northeast. For more information on Smith & Wilkinson visit www.smithandwilkinson.com, call us at 207.510.6666.

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