What is Retained Executive Search ?
Executive search is a specialized type of recruitment aimed at attracting highly skilled senior management talent to an organization. It is typically used to fill strategically important roles, including CEO, CFO, HOD, Managers etc.
In a retained search, a percentage of the agreed price is paid up-front with the remainder payable upon successful completion of the assignment. If the assignment is not completed, the payment is refunded in full.
Our executive search service include working with one of our more experienced executive search consultants, who has an in-depth knowledge of the industry and availability of talents. Better research uncovers high performing passive candidates who are not typically available in the public domain. Hence, executive search usually works with an organization who engage a long-term partnership.
When you approach with a retained executive search, on an exclusive basis, means you engaging with only us one firm at a time. The candidates we provide are generally not interviewing with other companies and may not be actively looking for a job at all.
Retained Executive Search Procedures:
Engage with our professionel - work closely to understand your needs and ensure a successful search.
Perform Needs Analysis and Statement of Requirements - combine the elements after discussion and develop a Statement of Requirements.
Prospect Identification - access our network of industry connections for referrals and recommendations. Finds candidates with the ideal fit.
Prospect Research and Qualification - approach those candidates with the strongest potential.
Presentation - present those candidates who are a viable and real leadership option for your firm.
Carry Out Assessment - working in alignment with your assessment, or utilizing our own proven assessment.
Placement Follow-Up - We available anytime to provide any needed support after placement.
Service Guarantee - Replace new candidates with no extra cost, in case that the candidate leaving within the agreed guarantee period.
Benefit to use Retained Executive Search
1. Higher Priority Level - The upfront structure of retained search ensures that the placement takes higher priority than commission-based placements.
2. Lower Risk of Bad Hires - The focus of a retained search is quality. You’ll often be working with the best of the best recruiters with a high success rate. When it’s crucial to get the right candidate for a high-stakes role, retained search offers a lower risk of a bad hire, and thus a higher certainty and comfort level.
3. Take time to Find the Best - When there’s not a race to complete the search, more time can be taken to ensure the very best and most qualified candidate is found — greatly benefiting the company in the long-run.
4. Finding Rare Skill Sets - A retained search opens up potential candidates who are already employed, meaning they’re able to expand their search to a wider range of individuals — increasing the chances of finding the person with the exact, unique skill sets needed for the niche role.
5. More Proactivity - As mentioned above, retained search takes a more proactive approach, considering those who aren’t actively seeking a new role. This enables a much wider selection than just those who are in a database, answered ads or shown interest themselves.
6. Access to Resources You Do Not Have - Simply put, most companies don’t have the time and resources needed to find the best high-level candidate themselves. Utilizing a retained search firm can actually save them time and money because the process will probably take less time than trying to do it internally.
7. More Customized - Retained search enables a more customized search for roles that are often very unique. It’s not a one-size-fits-all approach, but rather the recruiter takes more time to gain a thorough understanding of what the ideal candidate possesses.
8. Most Vetted Candidates - With retained search, you can have confidence knowing your candidates have been fully vetted — from more strenuous background checks, reference checks and so on, you can know only the most genuinely-qualified candidates, both skill-wise and culturally, will be presented.
9. More Feedback and Real-time Updates - Retained search recruiters will provide you with more helpful information throughout the process, including market intelligence, competition, timelines and so on.
10. Multiple Options to Ensure the Best - Versus providing only one potential candidate to fill the role, most retained search agencies will present a handful of highly-qualified candidates who fit skill, culture and salary requirements, so that truly the best fit can be chosen.