The best advice that I got in the recent past was to use Executive Search Firms (ESFs) to hire senior management. This came from my mentor, Sanjay Anandaram. He said it is the senior management that makes an organisation what it is. Even a 10 per cent improvement in the management team can result in multifold improvement in the organisation.
To hire for our senior management team, we used to use friend networks, job portals and professional networking portals like LinkedIn during our initial days. This worked, but it was time-consuming and at times ineffective. Besides, some of the best candidates were not looking for jobs, which meant they were not present on the job portals.
For the last few years, we have been using ESFs. They are expensive, but they have proved to be quite effective. Their search is based on mapping and networking. They map the organisational structures of almost all the companies in the industry, and network with most potential candidates. At times, they are also pretty accurate at evaluating candidates.
In the course of building our team, we have met and hired some of the best people for the job in the country. This increased our confidence, opened up many possibilities, and caused multifold growth.