You probably have quite a few questions about hiring a retained executive search firm. This move is one of the best that you can make for hiring employees. But if you're still not convinced about all the reasons as to why you should hire a retained search firm to do executive recruiting for you, then here are some answers to commonly asked questions that should be able to help you.
How does a retained search work?
iPeople, LLC identifies prospective candidates using a proprietary methodology that has proven successful across industries and markets. We personally contact each identified candidate in confidence to determine their interest in, and qualifications for, a particular position. Most candidates view these exchanges as constructive and useful dialogues, which builds interest and commitment as the assignment progresses.
Are you a "retained" or "contingency" firm? How are your fees structured?
Our main focus and priority are retainer-based assignments. That is, we are paid some portion of the fee to begin the assignment and the remainder upon completion. We will accept contingency assignments when they fit our business plan, are in the best interest of our clients, and represent the best use of our services.
Why should I hire a retained executive search firm when I can find employees on my own?
As a company grows, the difficulty of finding employees also grows. This is especially true if you are looking to fill senior-level management positions. As such, hiring a retained executive search firm with all its experience, connections, and track record can be a huge asset. Not only will they have your best interests in mind when they use all their resources to find prospects, but they will also be sure to find only those that have the set of skills needed for your vacancies. Their experience in this field will also yield better results more quickly for your job placement needs.
You will be assured to get only the right people for the job, and this is especially important if you are looking for talent that possesses a rare set of skills. They will find those that have the skills to effectively carry out the responsibilities of the job you need to be filled.
Why do I have to hire and deal with these retained search firms when I can have my own in-house recruiter?
Hiring the services of a retained executive search firm is actually more expedient than letting your own in-house recruiter do the job, and it is more cost-effective as well. This is because the resources that will be assigned to each candidate will be higher in ratio when you use a search firm, compared to when you do this by yourself. The chances are you only have one in-house recruiter to find the best job candidates for your company. Because there are more resources available when you hire a retained search firm to conduct the executive recruiting for you, you will new employees faster. This would save you the money that could be lost when it comes to leaving crucial positions in the company vacant for a longer period of time. Not to mention the amount of time (and money) it would take you to do it on your own.
Why should I have a retained search firm do the job of finding employees for my company if I can get the same benefits by using in-house hiring?
The benefits that come with hiring a retained executive search firm do not stop at getting the best possible candidates for a job vacancy, but also the savings of time, effort, and money. They could also include some value-added services that you would have to do yourself if you did not hire a search firm. These services include conducting pre-interviews of job candidates, conducting background checks, assessing the prospects, screening the job candidates, creating job specifications, and doing organizational structures, among many others.