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Why do you use executive search firms?

My company is considering to use an executive search firms for executive hire. Tell me under what situations that you would use executive search firms? what are the good advantage? Thank you!
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Major advantage is that this saves a LOT of time and if you find the right firm, they can help bring several qualified candidates according to your needs. (which in-house HRs may not have sufficient resources)
But an obvious disadvantage is that it costs, and sometimes, executive search firms tend to beautify their candidates in order to get their commissions......