The roles and responsibilities of headhunters in CEO recruitment

Abstract

The Icelandic labor market is characterized by persistent underrepresentation of women in executive positions. CEO recruitment has faced criticism, and headhunters face scrutiny for their role in the process. This study aims to explore the CEO recruitment process in Iceland, focusing on the role of headhunters in the process. The research questions are: how do headhunters perceive their roles and responsibilities in CEO recruitment? And how do they experience the role of headhunting in the gender imbalance of CEO positions in Iceland? The findings indicate that headhunters are pivotal in shaping this process by compiling a list of candidates based on their professional networks and insights. However, the selection process tends to be informal, and executive positions are rarely advertised. Implicit biases appear to affect who is included on the candidate list, based on masculine leadership traits, which can hinder women’s progression to top executive roles. The findings suggest that although headhunters aim to enhance gender balance, women are frequently overlooked due to traditional evaluation criteria that favor masculine characteristics. Headhunters’ ultimate goals are to fulfill their clients’ preferences for ideal candidates. The main contribution of the study is to shed light on how a process that appears unbiased can perpetuate gender biases and how headhunters can foster greater diversity in CEO recruitment by altering their practices. The study underscores the necessity of adopting a gender-sensitive approach in recruitment to promote gender equality at the highest echelons of the business sector.