Benchmarking—the process of presenting your client with potential candidates—is a crucial step in the search process. Regrettably, though, it’s often overlooked. Here’s how to benchmark successfully to guarantee a good search.
Every retained search needs to begin with an established research strategy—a clear set of instructions to follow and refer to throughout the search process. Learn why it’s a crucial first step toward eventually landing the best candidate.
Despite the rise of field-leveling database technologies like LinkedIn—executive search firms that specialize have the upper hand.
Search firms operate under two primary profit models: contingency and retained search.
For the sake of clarity, firms conducting a contingency search are paid only upon the successful placement of a candidate; there’s no upfront cost to the company.
In retained search, on the other hand, the firm takes on more of a consultant role, earning money throughout the engagement for work done continuously.
These contrasts might seem subtle, but if you’re in the market for a recruiter, it’s important to understand them. It might mean the difference between finding the right candidate for your open position or making a detrimentally wrong hire.
Executive Search is an inherently entrepreneurial business. Recruiters who hustle find success. That’s one reason why so many recruiters eventually decide to start their own firms.
Of course, there’s more to it than that. Retained search is an interesting business. You get to work with senior executives at exciting companies and help them solve challenging problems.
If you’re already working in the recruiting industry, branching out on your own amounts to seizing control of your own future. Yet, starting a search firm can be a huge leap. And if you—like many recruiters—are thinking about taking that leap right now, you might not know where exactly to start.