Will an Executive Search Firm Work?
Executive search can be a recruitment service that is used to hire the candidates for a position of executives many organizations. Executives needed in every organization from low to high-level in many departments. Companies who need executives may either hire them directly or can employ a third party firm to hire such executives for them. It’s not easy to hire a suitable candidate for executive position especially handful of not have many contact and processes.
There are firms out there because executive search organizations. These firms work as a vendor for your company’s recruitment. There greater level of benefit of hiring such companies for that recruitment. They have good experience to locate and hiring executives, so they do the task that you in lesser year. As you are running a business, you may not get sufficient to be able to conduct the interviews and choose the individual from a crowd, so it is to beneficial to hire a third party firm to do the task. The position of an executive in the company is of great importance and you cannot take risk of hiring an unskilled and unsuitable person for the place of employment. An executive search firm will guarantee with the hiring of a perfect executive for business.
We will now discuss working of these firms. There are basically three types of executive search kinds. Working of each model is somehow different. We will talk about each model in brief.
Retained Executive Search
In this search model, the company hires a firm to recruit officer or senior executives for it. The fee that the executive search firms charges is usually 30% in the annual salary of the recruited executive and individuals paid in three monthly payments.
Delimited or engaged search
This search model is compared to retained search with certain differences. Similar to retained search, it requires the company pay out for the executive search firm in advance, but with the condition how the fee is refundable in the instance that if the firm won’t be able to locate a suitable executive for the post.
Contingent search
These firms are somehow different out of the above only two. These firms do not obtain the payment in advance, only once the executive has joined the company. These firms usually acquire a 20% for the annual salary of the recruited professional. They receive the payment always from recruiting company not from the hired company.
Executive search firm is a good option for many kinds of businesses. As an executive is a vital part for the firm it also may not always be entirely possible that the company to find the best talent inside of the market, a good idea is to hire a firm can easily do the responsibility for you.
Fortra Executive Search
537 Hamilton Ave #100, Palo Alto, CA 94301
(650) 823-1138
