Matching People to Jobs

Executive search firms help businesses and organizations to find the right people for their jobs.

Executive Search Firm

Executive search firms recruit talented members of the workforce to work for different companies and firms. These agencies will work with clients to find the right person for the right job. Executive search firms are usually independent, third-party companies who will help with the initial interviewing, negotiating, and contracting of the new employee. Generally, people don’t look at executive search firms to find them a job; they are not employment agencies. They act on behalf of the company only. These kinds of firms operate with a high level of professionalism and integrity. There are two different kinds of search firms: retained and contingent searches.

Retained Search

Retained executive search firms demand an upfront retainer fee. Fees and how the fee ration is divided up depends on each company and each contract. One way to divide the fee is to make payments in thirds. One-third of the payment is given at the beginning, one-third during the interview process, and one-third when the right candidate has been found. But in a retained search, the fee is based on the time and expertise used to recruit talented individuals. In this case, the search is customized for the client and the organization’s needs.

Contingent Search

In a contingent search, executive search firms are paid only if there is a successful match between client and the company. In this case, the client pays the executive search firm a percentage of the candidate’s first year salary. That percentage will depend on the firm and the contract that the recruiting firm and company or organization will sign. Even though the payment schedule is different from a retained search, both styles of firms do the same kind of job.  These kinds of search firms also work with clients on a higher percentage fee basis. That way, the search firm can shoulder more risk when it comes to finding employees for their clients.

Pros and Cons to Each Style of Search Firm

When it comes to senior level roles, clients often prefer to work with search firms with whom they worked in the past. In this case, it’s often because of a successful collaboration between parties. This leads to a deeper relationship between executive search firm and client. This makes for a good balance between passing off resumes and offering insightful advice about the job market as a whole.

Companies and organizations can either take on a retained search firm or a contingent search firm to help them find good people for their various work positions. There are different kinds of payment options that clients can use, but that has to be negotiated through the contract and depends on which type of executive search firm is used. No matter which firm is used however, executive search firms should always operate with professionalism and care for the type of job they are matching. No matter what the job, an executive search firm can find a match for its client: the company or organization.

Executives Unlimited, a top-level executive search firm, provides services such as recruitments and placements, executive search, and other non-profit executive search services for various industries. To know more about the role of an executive search firm, you may visit eHow.

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