How does an executive search in Santiago work, step by step?

How does an executive search in Santiago work?

It works as a targeted search process: the position is defined in collaboration with the company, candidates are identified and contacted—many of whom are not actively seeking employment—the best candidates are evaluated, and the final decision is supported through the onboarding process.

The typical steps are as follows:

1. Overview of the position and the company's context.
2. Definition of the profile and evaluation criteria.
3. Market mapping and compilation of a list of target companies and positions.
4. Confidential contact and interviews with candidates.
5. Interviews and psychological, occupational, and technical evaluations.
6. Background and reference checks.
7. Presentation of finalists with complete reports.
8. Company interviews, job offers, and negotiations.
9. The candidate's resignation from his current job and start date.

The following sections explain what should happen in each one. The total duration depends on the specific nature of the position, the availability of decision-makers, and the time it takes for the candidate to leave their current job; therefore, any timeline must be evaluated with these factors in mind.

What makes Santiago's executive market unique?

What sets it apart is that many parent companies are concentrated in the capital, and the circles within each industry are relatively small, which makes networking valuable and confidentiality a sensitive issue.

This has several practical implications for a search:

• Reputation spreads quickly. A bad contact or a poorly handled proposal can become common knowledge among industry insiders, affecting both the consulting firm and the company.
• Informal references are plentiful. They are tempting, but they can put a candidate in a difficult position if he or she has not yet informed his or her employer.
• Many positions are based in Santiago, but the operations are not. In industries such as mining, management may live in the capital and travel frequently, which must be made clear from the outset because it narrows the pool of candidates.
• Location and format influence the decision. Commuting within the city and whether classes are in-person or hybrid may factor into the candidate's assessment, especially if it means changing an existing arrangement.
• Active candidates aren't always the best fit, and neither are passive ones. It's a good idea to include both groups and evaluate them using the same criteria.

How do you properly define a job description?

It is defined based on the results the executive must achieve and the context in which they must achieve them, rather than solely on their years of experience and credentials.

A useful job description answers specific questions: What problem does this person need to solve in their first year? To whom do they report, and how much autonomy will they have? What team will they inherit? What went wrong with previous holders of this position? What kind of leadership will work within the company’s actual culture?

Distinguish between essential and desirable requirements. Each additional requirement narrows the pool of candidates, and a lengthy list often masks the fact that decision-makers have not yet reached a consensus. If the CEO is looking for a transformational leader and the board expects continuity, the consulting firm will evaluate candidates based on criteria that will not hold up in the final interview. Aligning decision-makers at this stage saves time later on.

Job postings and candidate profiles must avoid discriminatory criteria, such as sex, age, marital status, origin, or maternity status, unless there is a legitimate, legally reviewed reason related to the position. The Labor Code also prohibits making employment contingent on the absence of financial obligations, although it provides for exceptions that include managers with general administrative authority and those responsible for safeguarding funds.

How do you find candidates who aren't looking for a job?

They are identified through market mapping, which pinpoints the companies and positions where such experience is likely to be found, and then those individuals are personally contacted with a confidential offer.

Mapping is one of the key differences from recruitment through job postings: it starts with the market rather than waiting for applicants. It is combined with other sources, and each one contributes something different:

Before you begin, agree with the consulting firm on which companies should not be contacted—for example, clients, affiliated companies, or partners. Also ask if there are any restrictions due to other projects or clients of the consulting firm, as these could limit the scope of your search.

How is the reservation maintained during the search?

We continue to limit who is aware of the process, describing the position without identifying the company at the outset, and obtaining permission from each candidate before sharing their name or requesting references.

Confidentiality works both ways. The company may be replacing someone who still holds the position, or launching an unannounced line of business, and therefore needs discretion. The candidate, for his or her part, risks losing his or her current position if his or her employer finds out. To protect both parties:

• Determine which employees in your company will be involved in the process, and use an internal name that does not reveal their job title.
• Decide when your company will be disclosed to candidates and under what confidentiality agreement.
• Do not ask for references from people at the candidate's current company without their express permission.
• Manage personal information in accordance with personal data regulations: Law 19.628 and Law 21.719 also apply to the processing of applicant information.
• Avoid sending resumes by email to people who are not involved in the decision-making process.

What is evaluated in the finalists?

We evaluate technical skills, verifiable work history, leadership style, cultural fit, and potential using methods that allow us to compare candidates based on the same criteria.

A competency-based interview should focus on specific situations and outcomes, rather than just opinions about what the candidate would do. Psychological and technical assessments complement the analysis without replacing the judgment of decision-makers. You can learn more about their uses in this article on psychological assessments.

When seeking references, try to speak with former supervisors, peers, and people who have worked under them. Ask about specific examples: what results they achieved, why they left, how they managed a team in crisis, and under what conditions they performed best. Questions about debts or personal circumstances require special care: verify beforehand that the candidate is legally eligible for the position.

A useful finalist report is not limited to a favorable biography. It should include the candidate's motivation, salary expectations, availability, identified risks, and questions that decision-makers should explore further.

Why Do Searches Drop Off in the Final Stage?

Deals fall through mainly due to poorly negotiated compensation, counteroffers, slow decision-making by the company, a lack of alignment among decision-makers, or terms that are revealed too late.

Also consider the notice period. The Labor Code requires an employee to give at least 30 days’ notice when resigning, although the actual notice period may be agreed upon differently with your employer. Coordinate your start date by taking this into account, along with any outstanding vacation time and the completion of your current responsibilities, and prepare the contract and its attachments in advance.

How do you choose a consulting firm, and what questions should you ask?

Choose a consulting firm that explains its methodology, demonstrates knowledge of your market, identifies who will do the work, and provides a written statement of fees, terms, and guarantees.

Fees and payment terms vary depending on the position and the consulting firm, so be sure to compare the full proposal. These questions will help you distinguish between them:

• Who will actually handle my search, and how many other cases are they handling at the same time?
• How will you map out my market, and when will I be able to review that map?
• Which companies can't be contacted because of their commitments to other clients?
• What reports will I receive, and how often will I be given updates?
• What warranty do you offer, under what conditions does it apply, and what is excluded?
• How are fees calculated, and when are they paid?

If you'd like more general guidance, check out our guide on how to choose a headhunting firm, as well as this explanation of how headhunting works in Chile and a comparison between headhunting and traditional recruitment.

How does Wiseplan conduct an executive search?

Wiseplan has developed a comprehensive process that includes defining the candidate profile, recruitment and pre-screening, psychological and technical assessments, background and reference checks, and comprehensive reports to select the finalists.

According to its website, it evaluates each candidate’s technical skills, cultural fit, and potential. Its recruitment sources include the WiseSearch database, an executive networking platform, job portals, agreements with trade associations and institutions, and online professional networks. Its expertise spans the selection of professionals and executives, including senior leadership and management, and it offers a satisfaction guarantee for its processes; the terms of this guarantee should be reviewed in the specific proposal.

Frequently asked questions

How long does an executive search in Santiago take?

There is no set timeline: it depends on the specifics of the position, the number of potential candidates, the decision-makers’ schedules, and the start date of the selected candidate. Ask the consulting firm for a phased timeline based on your profile, not a generic promise.

How much does it cost to hire a headhunter?

Fees vary depending on the level of the position, the complexity of the search, the payment terms, and the consulting firm. Request a written proposal that specifies the basis for the calculation, when each installment is due, any additional expenses, and what happens if the search is canceled.

Can the search be kept confidential if the position is still filled?

Yes, that’s one of the reasons to use a consulting firm. You should limit the number of people who are familiar with the process and disclose the company’s identity gradually. It’s also a good idea to work with legal counsel to determine how a potential separation will be handled.

What is the difference between executive search and regular recruitment?

Traditional recruitment typically focuses primarily on active candidates who respond to job postings. Executive search adds market mapping, direct contact with individuals who are not actively seeking employment, greater discretion, and a more in-depth evaluation for critical positions.

Is it possible to find an executive in Santiago to work in other regions?

Yes, but the location should be clarified from the very first contact. A relocation affects the family, compensation, and tenure. It’s important to decide whether the position requires living in the area or allows for frequent travel, and to also consider candidates from that region.

What should the company contribute during the process?

It must provide honest information about the position, a realistic salary range, accessible decision-makers, and prompt feedback. A consulting firm can expand the market reach, but the process is undermined if the company changes the job profile or delays its responses.

If you have a key position to fill in Santiago or elsewhere in the country, you can talk to Wiseplan and review the profile, budget, and market for your search.