Contingency Or Retainer: Choosing An Executive Search Firm For Your Business Is Best
Executive search firms probably call at least a half-dozen times a week, so it's a valid question why even look into choosing an executive search firm for your business. It's tempting, and it might ev...
Relations with executive search firms come in two flavors, contingency and retainer. With a contingency relationship there is no promise that that firm won't be one of two dozen, all looking for that childhood development therapist you want to fill in the staff. The retainer relationship, by comparison, is exclusive. Make them earn it.
Let's say a recruiter calls you, saying that she represents a therapist on a hospital staff with drug and alcohol rehabilitation experience. As she is somewhat knowledgeable about your medical office, she thought she would see if you had any need. You say no, but then tell her about your interest in a therapist with a childhood development background. You describe the person you're looking for in more detail.
You feel you're ready to move on to the bit about the 15% standard fee you offer, having described the person. However, the recruiter has more questions. The questions might seem peculiar. She wants to know whether the therapists often socialize after work, or take lunch together. She asks about expectations of pro bono work, about whether any of the therapists practice integral approaches. It's getting annoying. It seems the recruiter is making a nuisance of herself. In fact, it's the moment you should first begin to realize that this recruiter isn't just another headhunter, but a cut above.
Any experienced recruiter has a file cabinet full of office manager resumes. This is the moment when, if he's like most, he'll simply pull one out, inflate that candidate to the stars, and try anything to get you to interview her. Not once did he inquire anything about the job description that he didn't offer. The person he's describing has already been interviewed and turned down at several other companies. It'd be a waste company time to see him.
A top tier recruiter, like the person you're on the phone with, made sure she got the information she needed on the first call. Once this call ends, you won't hear from her for several days, and maybe more than a week. When she does call back, it will be with an undeniably fine candidate for the position, a candidate the recruiter knows like the back of her hand.
Our pro recruiter should ask for 30%, possibly 25% of first-year salary. Companies often try to impose low fees, 15% for instance, on everyone. In reality, you simply cut yourself off from the best.
The candidate should show up to the interview on time, present well, and be knowledgeable. He should do all the little things, like call or write afterward to thank you for the interview. He should do so because the recruiter properly prepared him. This candidate might be your next therapist in childhood development, and he might not. The recruiter who sent him, though, has helped you in choosing an executive search firm for your business.
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Business owners, you can find complete details about the benefits of using the services of an executive search firm at http://www.spectrumsearchpartners.com/ today.