When you’re looking to fill a senior-level position quickly, you have two options: use retained search solutions or contingent recruiters. A contingent search is the more cost-effective of the two as you pay the recruiter only if you find the right candidate through them. A retained search involves identifying the right candidate painstakingly through screening, evaluation, and interviews. For this reason alone, retained search is the better option for executive recruiting.
Here are the various other ways in which retained search is useful.
Benefits of using retained search solutions
You have recruiters’ (mostly) undivided attention
Retained search firms take up a limited number of assignments to spend the time necessary to evaluate active job seekers and passive candidates. This increases the likelihood of finding a candidate who meets most if not all the requirements of the role.
You can focus on interviews and approvals
With the retained search firm filling your pipeline with candidates that match your criteria, you can focus on interviewing candidates and gaining the approval of decision-makers. Your internal team saves significant time and meets hiring deadlines without stress.
You don’t pay a whole lot more for retained search
There isn’t a big gap between what you pay for retained search solutions and what your contingent recruiter charges you if they place a candidate successfully. Given the quality of hire and time savings you’re assured of when you use a retained search firm, the cost difference will not matter.
How to improve results from executive search
Leave no room for doubt
An executive search firm will be familiar with the marketplace and general expectations of companies belonging to the industry they serve. They will have the assessment and screening tools to identify the best candidates for a role. However, it is you who decides what your ideal executive looks like and what you can offer him/her. Making these details clear to your executive search partner is vital to avoid any misunderstandings and missing out on worthier candidates.
Specifically, you should share these expectations with the executive search firm:
- Mission-critical requirements, soft skills, and any value-add skills
- Your company culture
- Compensation details
- Ideal personality traits and working style
Giving your search partner such key insights will allow them a well-rounded understanding of your needs. Providing these details before they embark on a search will save both parties time and avoid wasted efforts.
Found the right person? Make an offer before your competitor whisks them away!
If you’re slow to act, you risk losing out on top talent. Executive-level talent is always in demand, and it’s possible that your candidate is also interviewing at other companies. Once you have your man/woman, speed up board approvals and make an offer. This way, you’ll have the first shot and the time to negotiate a counteroffer.
Find your next executive through Arango & Associates
Retained search solutions from Arango & Associates are designed to find you the best talent for the most challenging roles to fill. Thanks to our partnerships with SMG Consulting, USA Staffing Services, and Everest Recruiting Solutions, we have a large and diversified talent network for urgent placements and ongoing executive recruiting.