Finding Top Talent: Executive Search in Iceland

Companies are constantly on the lookout for qualified and committed workers and many qualified people are desperately searching for the right company to work for. The bridge between them are the executive search firms. Executive search is very well developed in Iceland. There are specialized agencies like Swapp that understand the exact needs of their client companies and recommend suitable candidates to them. There are different models for this process. The client companies can submit their requirements to the executive search firm. The candidates can approach the companies to place them appropriately.

The employment agencies maintain a database

The way recruitment companies work is to create a database of candidates and store them in a specific order so that they can be easily found later. This can be done in folders by function or level. When companies register their need for managers in Iceland, they may want to recruit managers at different levels. There are senior executives, managers, vice presidents and so on. The Icelandic company in charge of the executive search would first access their database to see if there are suitable candidates. If they don’t find enough or the right candidates, they have to advertise the position.

The Process Employed by the Executive Search Firms

The best companies involved in executive search approach the task professionally. As soon as the client company communicates its requirements and agrees to the fees, etc., work begins at the agency. As already mentioned, the agency's existing database is checked first. If no suitable candidates are found, the position is advertised.

The agency now has several channels at its disposal to reach potential candidates. The agency may have a mailing list of executives who are sent a detailed email with a description of the position, a brief introduction to the hiring company and the salary offered.

If the job needs to be advertised, there are also several options here. There are online job search platforms that can be used by the company conducting the executive search in Iceland to publicise the requirement. Those looking for assignments will search for vacancies on these websites. Many of them have a system for sending out job adverts where the candidates’ profiles match the requirements.

It is then up to the candidate to contact the recruiter. Once they have received a sufficient number of candidates, the agency will move on to the next steps.

They will begin by sifting through the CVs received and speaking to the candidates on the phone to form an initial opinion on the candidate’s suitability for the advertised position. Shortlisted candidates will then undergo a series of tests to assess them further. This may include a psychometric test to assess the candidate's personality.

This is followed by formal interviews, first by the company conducting the recruitment in Iceland and then together with the client company’s managers. As a final step, the person is appointed by the company.

Some of the recruitment companies offer additional services, such as salary structuring and drafting the letter of employment. Icelandic law stipulates that employees must be issued with a letter of appointment. Many companies have collective bargaining and collective agreements. Nevertheless, letters of appointment must be issued to individual employees. Again, in many cases there are conditions that are discussed and agreed between employers and employees outside the collective agreements.

Employers who are new to Iceland and who are unfamiliar with the conditions in Iceland will find these agencies very useful in guiding them through these processes.

If you wish to do recruitment in Iceland, contact the Swapp Agency.