Post on 02-Apr-2022
Introduction
For far too long, talent data has remained scattered, stored
across individual inboxes, spreadsheets, and documents. Not
only does this hurt productivity within your search firm, but it
also has negative implications for your clients, resulting in missed
opportunities and bad hiring decisions.
Thrive TRM is collaborative, real-time Talent Relationship
Management software that allows the entire hiring team to
visualize talent all in one place. Combining the best features of
an Applicant Tracking System (ATS) and Customer Relationship
Management (CRM) platform, Thrive TRM goes one step
further by enabling recruiters and team builders to deeply
connect candidates with search teams and other stakeholders.
From the initial kickoff meeting to the day a contract is signed,
Thrive TRM provides clients complete visibility into your
search process, creating an experience that is more valuable
and engaging. Internally, Thrive TRM increases productivity
and accelerates speed to hire by automating much of the
administrative work executive recruiters are often saddled with.
In this eBook, we outline the six stages of the executive search
process and map out how Thrive TRM’s innovative features apply
to each. Keep reading to learn more about how Thrive TRM can
supercharge your executive search process, leading to more
successful placements, happier clients, and future searches won.
THRIVE TRM IMPROVES YOUR EXECUTIVE SEARCH PROCESS IN THREE DISTINCT AREAS
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COLLABORATION
Build a true partnership with clients by
inviting them to prioritize candidates, share
assessments and feedback, and send and
receive activity notifications as they happen.
VISIBILITY
Increase trust and foster a sense of
accountability by giving clients access to
your candidate pipeline, compensation
information, search status, and much more.
EFFICIENCY
Close searches 15% faster with Thrive TRM.
Spend less time creating status reports and
more time winning searches.
Phase 1: Search KickoffThe search kickoff is what ultimately sets you up for a successful placement
further down the line. Using Thrive TRM, you’re able to collaborate with
clients from the very beginning, inviting hiring managers and key executives
to view by-the-minute updates and add their feedback on the targets
discussed.
As a recruiter, the more you know about the position to be filled, the company
behind the position, and the industry itself, the better you’ll be able to fill
positions with the right candidates. Thrive TRM allows you to aggregate
crucial intelligence, demonstrate real-time reporting, and track your pipeline
all from a single dashboard. Whether you’re doing research independently
online, observing company dynamics directly, or talking to individuals to get
different perspectives, Thrive TRM makes it easy to organize your data all in
one place and reference it later in the search as needed.
During this initial research phase, Thrive TRM’s Target Companies feature
allows you to see how many candidates you have within your selected target
companies for that search, as well as how many candidates within the search
are outside of your target companies. In one click, you’re able to see a filtered
view of all candidates that previously or currently worked at the company
you’re looking to target. This allows you to easily see if you have enough
coverage so you can prioritize and focus your sourcing efforts moving
forward.
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Using Thrive TRM, you’re able to collaborate with clients from the very beginning, inviting
hiring managers and key executives to view by-the-minute updates and add their feedback on
the targets discussed.
OBJECTIVES
• Understand the client’s
business, company culture,
strategy, position, and key
pain points
• Develop search plan,
set targets, and discuss
specifics
• Search committee is given
access to Thrive TRM,
which provides real-time
access to status updates
• Begin candidate outreach
DELIVERABLES
• Formalized spec
• 50-80 target companies
identified
• Prospective candidates
identified
KEY THRIVE TRM FEATURES
• Dashboard
• Target Companies
TIMELINE
• 1-2 weeks
PHASE 1 AT A GLANCE
Phase 2: Search ProcessPhase two of the executive search process involves heavy market research,
aggressive candidate outreach, and initial candidate interviews. As you
prepare your long list of candidates using referrals, contacts, and market
intelligence, Thrive TRM speeds up your search process and helps you find
hidden talent by allowing you to segment your talent pool into specialized
groups.
The more data you have on your potential candidates, the more you can
gauge whether they fit the qualifications you’re looking for before you engage
in recruiting them. Thrive TRM provides data analytics that can be easily
understood and used in recruiting, focusing on the data that will matter most
and centralizing it into one unified resource that makes tracking and ranking
candidates easy.
As you identify the right people, Thrive TRM allows you to quickly import
candidates, using the multilingual enterprise-grade Resume and LinkedIn
Profile Parser. The Thrive TRM Chrome Extension makes it easy to create
and/or update contacts from web profiles. This allows you to create candidate
profiles with ease, storing everything from the candidate’s experience,
compensation data, resume, and references all in one place. As you add to
your long list of active candidates, the search committee will be able to access
the information at any time, seeing who you have already connected with and
offering their feedback along the way.
One of the major benefits of Thrive TRM at this stage is that it saves
you countless hours spent creating documents for weekly status calls.
Traditionally static documents that could take up to two hours a week to put
together, these reports were not previously reusable or easily shared across
networks. With Thrive TRM, search reports can be pulled in 60 seconds or less. The reporting dashboard eliminates manual data entry errors and allows
you to collaborate around your talent data in real-time with key decision
makers.
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Thrive TRM speeds up your search process and helps you find hidden talent by allowing you to segment your talent pool into specialized groups.
OBJECTIVES
• Conduct market research
using referrals, contacts,
intelligence, etc.
• Identify and initiate
contact with prospective
candidates
• Prepare a long list
DELIVERABLES
• 60-100 candidates
identified and phone
screened
• Aggressive candidate
outreach (continues until
search is complete)
KEY THRIVE TRM FEATURES
• Talent Pools
• Resume and LinkedIn
Profile Parser
• Thrive TRM Chrome
Extension
• Search Report
TIMELINE
• 2-4 weeks
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PHASE 2 AT A GLANCE
Phase 3: Candidate EvaluationDuring the candidate evaluation phase, your search team is busy conducting
deep-dive interviews, evaluating top prospective candidates, and comparing
them against the candidate specification. With so much happening in a short
period of time, it can be easy to lose track of resumes, candidate assessments,
and notes taken during your client update calls. Thrive TRM solves for this by
allowing you to import your collective intelligence into one unified resource
that can be accessed from anywhere with any device.
Thrive TRM’s Email Integration tool allows you to automatically log outreach
and notes from Gmail. And if you don’t use Gmail, you can still blind copy
(Bcc) Thrive TRM to log email outreach. This is a huge time saver when trying
to schedule interviews and conduct informal referencing, which you’ll want to
be able to refer to later in your search.
As the short-list is narrowed down, clients are able to provide their input in
real-time, adding comments, endorsing candidates or demoting them, using
thumbs up or thumbs down. With Thrive TRM’s Candidate Assessment tool,
you can add customizable criteria based on what success looks like for that
particular client. Should this change as the search progresses, criteria can be
adjusted to better reflect that.
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OBJECTIVES
• Extensive assessment via
personal interviews
• Prepare to present
selected candidates to
client
• Informal referencing begins
DELIVERABLES
• Candidate short-list
prepared
• 10-20 structured
interviews conducted in-
person
KEY THRIVE TRM FEATURES
• Email Integration
• Customizable Candidate
Assessment Criteria
TIMELINE
• 3-5 weeks, can be
repeated or “rebooted”
depending on client
approval
• Client/candidate
interviews continue
Thrive TRM allows you to import your
collective intelligence into one unified resource that can be accessed from anywhere with any device.
PHASE 3 AT A GLANCE
Phase 4: Presentation of Candidates
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Communication is key when working with the search committee to prioritize
candidates and come closer to a final decision. Thrive TRM facilitates this
collaborative decision-making process by allowing you to share assessments
and feedback seamlessly, and send or receive activity notifications as they
happen.
Thrive TRM allows you to take notes on client feedback during update
calls, or invite clients to enter in their feedback directly. The Quick Link
Assessment feature allows you to easily send a reminder to anyone involved
in the search, following up with them to provide feedback within the platform.
Even if someone doesn’t have access to Thrive TRM directly, the Quick Link
Assessment feature will still allow you to collect their feedback and scores
within the platform. This is especially useful in late-stage interviews, when
candidates may be meeting with many different people within the company.
As you work with the client to narrow down that shortlist, confidential
reports can be created in Thrive TRM including candidate overviews,
assessments, career highlights, notes on their unique experience, and any
references that were conducted. This report can be viewed by the client
within Thrive TRM, or can be easily exported as a PDF document.
Thrive TRM allows you to share assessments and feedback
seamlessly, and send or receive activity notifications as they happen.
OBJECTIVES
• Introduce top qualified
candidates to client
• Present confidential
reports of shortlisted
candidates to client
• Client/candidate interviews
continue
DELIVERABLES
• 8-12 candidates presented
to client
• Shortlist of 2-4 candidates
developed
• Detailed reference checks
conducted
KEY THRIVE TRM FEATURES
• Quick Link Assessment
• Confidential Report
TIMELINE
• 2-4 weeks, can be
repeated depending on
client approval
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PHASE 4 AT A GLANCE
Phase 5: Candidate AcceptanceIn the beginning of the search process, clients are less concerned with
compensation and more eager to meet the best possible candidates for
the job. However, as the search process progresses into the final stages,
compensation data plays a larger role in the final decision and contract
negotiations. With Thrive TRM, data such as base salary, bonus, and private
company equity is gathered throughout the entire search, and kept readily
available for the hiring team to reference when the time is right.
Once a final candidate has been selected, Thrive TRM assists as you position
the offer to the candidate and negotiate a package that’s beneficial to both
parties. Thrive TRM provides you access to robust compensation data for
the total candidate pool, as well as for the active candidate being offered a
position.
Using Thrive TRM, you can view real-time market compensation data for
the position you’re currently hiring, as well as compensation data for the
individual candidate. This will help as you manage the candidate acceptance
process, relaying important market data to your client and offering feedback
to help them extend an informed offer. Internally, Thrive TRM assists as
you and the client work together to make tough decisions that may impact
whether or not your top candidate accepts the final offer.
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OBJECTIVES:
• Assist in contract negotiations when needed
• Clarify expectations
• Hiring of candidate
DELIVERABLES:
• Candidate offer extended
• Acceptance process managed
KEY THRIVE TRM FEATURES:
• Real-Time Market Compensation Data
TIMELINE:
• 1-3 weeks
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Thrive TRM assists as you position the
offer to the candidate and negotiate a
package that’s beneficial to both parties.
PHASE 5 AT A GLANCE
Phase 6: Feedback ReviewThe search process doesn’t end when a candidate accepts an offer. What
happens in the following days, weeks, and even months can impact the
likelihood that you’ll secure repeat business with existing clients and win
future searches that are similar in nature. Thrive TRM helps you keep track of
past searches, schedule check-ins with new hires, and gather client feedback
to continually improve your process.
When a candidate accepts an offer, you’re able to document their new
company, role, salary, and start date within Thrive TRM. With Thrive TRM’s
Task feature, you can set reminders to wish a placement good luck on their
first day or follow up in a month to see how they’re adjusting. By scheduling
these check-ins periodically, you’ll be able to better assess how successful the
placement is, and pass along that feedback to the client if requested.
From an internal perspective, Thrive TRM allows you to gather feedback
from clients on what went right with the search, what could be improved
for next time, and if they have any hiring needs in the near future. This
information won’t be visible from the client’s side, but can help your team
with business development opportunities. Having this type of data on past
searches not only provides you leverage to win more searches with that
client, but also provides social proof for other prospective clients who may
have similar needs.
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OBJECTIVES:
• Follow up regarding successfully placed candidates’
performance
• Remain in contact with client and candidate
• Evaluation of search process and result
DELIVERABLES:
• End of search surveys sent to clients
• Set reminder to monitor new hire for up to 6 months after job
placement
KEY THRIVE TRM FEATURES:
• Automated Task Reminder
TIMELINE:
• Ongoing
Thrive TRM helps you keep track of
past searches, schedule check-ins with
new hires, and gather client feedback
to continually improve your process.
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PHASE 6 AT A GLANCE
ConclusionThrive TRM is an active database that keeps an ongoing record
of what’s happening right now with your search. Increased
transparency benefits your clients, who are able to collaborate
with your team directly to ensure the best possible candidate
for the job is hired. Your search team saves countless hours on
administrative tasks, instead focusing their time on analyzing
crucial hiring intelligence and building up your talent networks.
Lastly, your search firm is able to win more business. By having
all of your talent data in one place, you’ll be in a better position
demonstrate the effectiveness of your search process and point
to examples of successful placements.
Over 560 top executives have been placed using Thrive TRM. If
you’d like to learn more about how Thrive’s Talent Relationship
Management software can help you win more searches and
accelerate your speed to hire, contact us today to schedule a free
demo.
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