Why Executive Search is Broken for SMEs

A Technology-First Approach to Leadership Hiring

We sat down with Peter Bone, Managing Director of Impact X, to discuss why SMEs need a fundamentally different approach to leadership hiring, and how they're using technology and data to transform an industry that hasn't changed much in three decades.

Executive search hasn't evolved much in 30 years. Whilst the business world has transformed dramatically, especially for SMEs operating at breakneck speed, traditional search firms are still using the same old playbook built for corporates. When we ask Peter what's fundamentally broken in the conventional model, he doesn't hold back: it's slow, opaque, and obsessed with pedigree over whether someone can actually do the job.

"The conventional model is built for corporates, not so much for scaling businesses," he tells us. "What's broken is this assumption that real quality takes ages and costs a fortune. We're flipping that by using real-time data, tech-enabled research, and transparent workflows to find brilliant candidates wherever they happen to be hiding."

Traditional firms love their "big business" approach - endless timelines, eye-watering retainers, and rigid processes that make about as much sense for SMEs as a chocolate teapot. Rather than relying on the infamous "black book," Impact X blends technology, talent intelligence, and properly personalised service.

We asked him how this tech-driven approach really works: "We blend experience, advanced technology and talent intelligence to identify the right talent based on actual data. This means candidates get evaluated on stuff that matters, reducing bias and massively increasing the chances of getting the right person in the door."

Let's talk challenges...

The challenge for businesses within the small to mid-sized market is tricky because they don't hire at executive level very often. When they do, it feels like everything's riding on it - because it kind of is. "The biggest challenge is uncertainty," he explains. "They often don't know exactly what they need, or how to spot it. Get it right, and the business takes off; get it wrong, and it's painful in every possible way."

His advice for those hiring executives for the first time is straightforward: "Start with clarity. Don't get hung up on fancy job titles - work out what business outcome you actually need. Think about how this person fits with your existing team, your values, and where you're trying to get to."

When running searches for scaling businesses, they look for specific signals that predict success. "We look for adaptability, self-awareness, and evidence of building from ambiguity. It's not about someone who's 'been there, done that' - it's someone who's done it in a resourceful, hands-on way."

Perhaps most importantly, their approach focuses on building for the future, not just filling today's gaps. "Rather than just filling a gap, we help companies think carefully about where they're going - and who can take them there," Peter explains.

The reality is that in today's market, the best leaders aren't waiting around. They're busy building, scaling, and solving problems, usually not even thinking about a move. Leadership hiring isn't a numbers game anymore; it's a strategy game.

If your next leader is going to shape your next chapter, your hiring approach should reflect that ambition. Contact the Impact X team to learn more.