| a. What are the benefits of utilizing executive | | | | thousand dollars or more), when difficult to fill or |
| recruiters? | | | | requires a thorough recruiting effort, when it requires |
| Experts in recruitment | | | | strict confidentiality, or when locating the best |
| Executive recruiters are specialized professionals. | | | | candidate is more important than filling the position |
| They work at the recruitment process exclusively, and | | | | quickly. |
| survive on their ability to get results in a highly | | | | Contingency recruiters |
| competitive marketplace. Most executive recruiters | | | | Contingency executive recruiters derive their name |
| bring years of experience to their work, and are | | | | from the fact that they work "on contingency." |
| intimately familiar with every aspect of candidate | | | | Employers only pay for their services if an employer |
| identification, sourcing and selection. | | | | hires a candidate referred by their firm. If there is no |
| Executive recruiters are hired to cast a wider net and | | | | hire, then there is no fee due. |
| approach accomplished candidates who are busy | | | | Most contingency recruiters work quickly and uncover |
| working and not looking. Many candidates are invisible | | | | many resumes. They tend to provide more of a |
| from where employers sit, and will not approach a | | | | resume referral service, and spend less time with each |
| public job opportunity without the safety and | | | | client. Because there is no financial commitment from |
| confidentiality of third-part representation. | | | | employers to support up front candidate research, |
| Executive recruiters have the advantage of meeting | | | | contingency recruiters tend to move on to new |
| with candidates outside the interviewing arena where | | | | assignments more quickly once a job opportunity |
| they can build trust and rapport in a neutral and | | | | becomes difficult to fill. Contingency recruiters find it is |
| protected environment. They have mastered the | | | | usually more cost effective to market exceptional |
| delicate art of persuading well-paid, well-treated | | | | candidates to locate job opportunities than to recruit |
| executives to give up good corporate homes for | | | | for employers and locate difficult-to-find candidates. |
| better ones. | | | | Most contingency recruiters fill lower to middle |
| Executive recruiters remove a tremendous recruitment | | | | management positions where candidate marketing can |
| burden from management by presenting a limited | | | | result in greater chances for success due to the |
| number of qualified candidates who are usually | | | | greater number of job opportunities. However some |
| prepared to accept an offer. They also are skilled at | | | | contingency recruiters will not market candidates and |
| dealing with counter-offers, and managing candidates | | | | will only recruit for employers. |
| until they are safely on board with their new position. | | | | The relationship between contingency recruiters and |
| Committed to confidentiality | | | | their clients is usually less intense, with less personal |
| Executive recruiters understand the privileged | | | | contact and a lower level of mutual commitment. It is |
| relationships they have and are committed to strict | | | | not uncommon for an employer to use several |
| confidentiality -- both by professional ethics and | | | | contingency recruiters on a single search, while |
| common sense. | | | | continuing to try and fill the position on their own. |
| Many employers want to keep hiring decisions and | | | | Contingency recruiters usually manage eight to twenty |
| initiatives confidential from competitors, customers, | | | | assignments at a time, and maintain a one year |
| employees, stockholders or suppliers to protect against | | | | "candidate hands off" policy. They will usually present |
| unnecessary apprehension. Management resignations | | | | candidates to multiple job assignments, and often face |
| are often private matters and require immediate | | | | pressure working similar assignments with different fee |
| replacements before the resignation becomes public | | | | levels. Contingency recruiters generally guarantee their |
| knowledge. Sometimes employees need to be | | | | placements for thirty to ninety days, but some offer no |
| replaced without their knowledge. For these | | | | guarantee. Although the placement fees are usually |
| assignments, an executive recruiter is usually the only | | | | twenty five percent to thirty five percent a candidate's |
| confidential solution. | | | | annual compensation, many contingency recruiters are |
| Candidates also need the confidentiality which | | | | willing to negotiate their fees and some charge as little |
| executive recruiters can provide. Many candidates are | | | | as fifteen percent. |
| willing to hear of outstanding opportunities, which could | | | | It is best to utilize a contingency recruiter when the |
| advance their careers, but few are willing to explore | | | | position is entry or mid-level management, when filling |
| those opportunities on their own in fear of jeopardizing | | | | the position rapidly is more important than locating the |
| their current position. An executive recruiter is a | | | | "ideal" candidate, when filling multiple positions for an |
| third-party representative that knows how to gain the | | | | employer with the same skill set, and when it is |
| confidence of nervous candidates. | | | | important to fill the position at minimum cost.c. Where |
| Objective professional counsel | | | | to look for an executive recruiter |
| The objectivity and feedback from an executive | | | | The best place to find a good recruiter is to begin with |
| recruiter is invaluable to an employers. Recruiters know | | | | an in-house referral. Talk with the human resource |
| how to advise and counsel management so that the | | | | department and employer managers to see what |
| best hire gets made -- the choice with the | | | | experience they have had with executive recruiters. |
| longest-range likelihood of mutual benefit and | | | | Check with colleagues in other departments, peers at |
| satisfaction. They can help employers evaluate their | | | | other employers or the local trade associations for |
| expectations, and bring industry expertise to assist with | | | | additional recommendations. Another place to find |
| the development of job descriptions, reporting | | | | comprehensive lists of executive recruiters is to |
| relationships and compensation programs. They can | | | | purchase one of the major recruitment directories |
| also usually provide investigative reports on candidates, | | | | such as The Directory of Executive Recruiters, by |
| third party referencing, personality testing, foreign | | | | Kennedy Publications, Hunt Scanlon's Executive |
| language proficiency assessment, relocation | | | | Recruiters of North America, or visit the many Internet |
| assistance and other specialized services. | | | | directories of recruiters such as the Recruiter's Online |
| Executive recruiters help balance the emotional | | | | Network at What to look for in selecting an executive |
| reactions and biases of corporate management. | | | | recruiter |
| Likewise, the recruiter can act as a skilled intermediary | | | | A proven track record. A good recruiter should have |
| -- a diplomat, if you will - to clear up misunderstandings, | | | | up to seventy five percent in repeat customer |
| straighten out miscommunications, and tactfully convey | | | | business, and completion rates that exceed eighty five |
| each party's concerns to the other during negotiations. | | | | percent. |
| Cost effective investment | | | | Search results. For each assignment, find out how |
| The use of executive recruiters should be viewed as | | | | many candidates will be sourced, contacted and |
| an investment in improving the quality of an | | | | interviewed, and how many finalists will be presented. |
| organization's managerial might. The right choice can | | | | Availability. If a recruiter is working on more than three |
| dramatically increase a employer's value; and that | | | | current assignments, you can expect limited attention. |
| value rises exponentially moving up the management | | | | Junior associates are no substitute to the quality |
| chain. The fees associated with any particular search | | | | recruitment offered by an experienced pro. |
| become almost incidental considering the ultimate | | | | Performers. Recruiters should be doers not overseers. |
| payback. | | | | They should conduct the entire search from initial client |
| A good way to view cost is to measure the cost of a | | | | discussions to research, recruitment, interviewing and |
| bad hire. When an incompetent new employee makes | | | | final selection. Many recruiters will send their most |
| bad decisions, hundreds of thousands -- even millions -- | | | | accomplished recruiter or "rainmaker" on presentations |
| of dollars may be lost. This employee will have to be | | | | to secure the assignment, but quickly pass on the |
| replaced and the overall downtime for having the | | | | work to junior associates. Find out if others will be |
| position unproductive can be staggering. Employers | | | | involved with the assignment and what their roles will |
| often engage executive recruiters to ensure that such | | | | be. |
| trauma and expense are kept to a minimum.b. Types | | | | A recruiter not a recruitment firm. The recruiter is the |
| of Executive Recruiters | | | | one performing the search, not the firm. |
| There are basically two types of executive recruiters: | | | | Industry specialists, not generalists. Specialty recruiters |
| retained fee and contingency fee. Both retained and | | | | are more capable of completing an assignment quickly. |
| contingency fee recruiters perform the same essential | | | | Knowing where to go to find the best talent, and |
| service. However, their working relationship with their | | | | having the ability to quickly gain their confidence of |
| clients is different, and so is the way these recruiters | | | | talent is essential for a timely result. Recruiters that |
| charge for their service. Retained and contingency fee | | | | specialize within the employer's unique segment of |
| recruiters each bring certain advantages and | | | | industry are often more effective. |
| disadvantages to particular kinds of executive | | | | Appropriate position specialists. Recruiters often |
| searches. Cost in fees is basically the same (twenty | | | | specialize in lower, middle or executive level |
| five percent to thirty five percent of a candidate's first | | | | assignments. Find a recruiter that specializes in the |
| years compensation), with the exception that | | | | level position the employer is looking to fill. |
| out-of-pocket expenses are usually reimbursed for | | | | Trade association involvement. Association |
| retained recruiters. | | | | involvement helps establish a recruiter's reputation and |
| Retained recruiters | | | | network of contacts. Find out what personal |
| Retained executive recruiters derive their name from | | | | involvement and contributions the recruiter has made |
| the fact that they work "on retainer." Employers pay | | | | through participation in trade committees, writing articles |
| for their services up front and throughout the | | | | for trade magazines, giving talks at industry events, |
| recruitment process. Retained recruiters are typically | | | | and other prominent networking avenues. |
| paid for the search process regardless of the | | | | Twelve month guarantee. Make sure if the new hire |
| outcome of the search, however most retained | | | | resigns or is terminated within twelve months, the |
| recruiters allow employers to cancel the search at any | | | | recruiter provides a replacement at no professional |
| time for prorated rates. | | | | fee. |
| Retained recruiters provide a thorough and complete | | | | Recruiters with good references. Validate recruiter |
| recruitment effort, often involving multiple researchers | | | | claims of successes and industry involvement. Speak |
| and recruiters on a single assignment. They usually | | | | to references that can discuss recent |
| create detailed reports on the employer, the position, | | | | accomplishments, ethical recruiting practices, and prove |
| their research and recruitment efforts, candidate | | | | long-term, repeat business. |
| resumes, interviews, reference checks and other | | | | Premium service. Cost is usually the lowest factor on |
| tangible services that add value to the search process. | | | | any hiring survey when employers are questioned on |
| They tend to work in partnership with the employer, | | | | the most important factors looked for in selecting an |
| offering expert counsel throughout the search, and | | | | executive search. The old adage, "you get what you |
| requiring exclusivity and control over the hiring process. | | | | pay for" is true in most cases when hiring an |
| The retained recruiter may participate in all client | | | | executive recruiter. |
| interviews with candidates, all related discussions within | | | | Reasonable blockage. Check "off limit" policies. Find out |
| the client employer, all negotiations, offers, and | | | | what firms are "off limits" to the recruiter (protected |
| settlements. While the process may take three or four | | | | firms that cannot be recruited from). If those firms are |
| months, the hire is typically guaranteed for a year or | | | | likely sources to fill the position, do not work with a |
| longer. Because a retained executive recruiter spends | | | | recruiter who cannot touch those executives. |
| so much time on behalf of each client employer, she | | | | National capability. A national recruiter can often recruit |
| can only work with a few clients at a time (usually two | | | | a localized market effectively, but a local recruiter |
| to six). Retained recruiters will usually present | | | | rarely can recruit a national market effectively. It is |
| candidates to only one employer at a time and will | | | | even far more important to find a successful recruiter |
| maintain a two year "candidate hands off" policy. | | | | who will locate the best candidates than one who |
| It is usually best to hire a retained recruiter when an | | | | happens to be based nearby. |
| assignment is critical or senior in scope (seventy five | | | | |