Should you hire an executive search firm to handle your next major executive hire? Here are five mistakes companies often make when they don’t:

1. Minimize urgency – In this day and age, everything is urgent, right? However, a key vacancy at the top executive level is especially pressing. Vacancies can slow business performance, growth, and revenue as resources are allocated to fill the gap. Delegating the search to a professional allows you to focus on running the business. You may also consider hiring an interim executive to maintain continuity while the executive search takes place.

2. Assuming you have the same information as everyone else – Sure, everyone you need is on LinkedIn. Or are? Unless your organization is willing to pay for corporate access that allows a full view of the LinkedIn database, you’re not seeing the whole picture. The information you are viewing is also not rated and is simply a summary of the candidate’s skills and experience. Executive search firms use LinkedIn as a complementary tool to their own database of prequalified candidate information. The search data that companies have access to is the result of years of collective work and evaluation by trained professionals.

3. Absolute sense of your company’s ability to attract top talent – When Yahoo! If you want to hire a Google executive, you’ll typically hire a retained executive search firm to make the call. Executive Search professionals are independent third parties, and those who work for reputable firms always have their calls returned. Additionally, they are adept at selling opportunities to people who aren’t necessarily looking to leave today and addressing the negative bias candidates may have about companies. Does your HR department have this kind of experience?

4. Poor management of top talent – Locating highly sought after talent is one thing. Managing candidates through the hiring process is another. And it is just as important. How often have you found the candidate of her dreams only to discover that she can’t get him? Many variables can come into play, including challenges with compensation, relocation, competitive bids, etc. Search firms are experts at attracting and landing the best talent and managing your expectations along the way.

5. DIY risk – The focus of your business is not the search for the best talent. Given the importance of hiring a key executive for your organization, and in light of the four previous mistakes listed above, can you afford to risk DIY when the stakes are so high?