Executive Search Firms
An executive search firm is a type of company that specializes in recruiting executive personnel for their client companies in various industries. Executive search agents/professionals typically have a wide range of personal contacts in their industry or field of specialty; detailed, specific knowledge of the area; and typically operate at the most senior level of executive positions. Executive search professionals are also involved throughout more of the hiring process, conducting detailed interviews and presenting candidates to clients selectively, when they feel the candidate meets all stated requirements and would fit into the culture of the hiring firm, as well. Executive search agencies typically have long-lasting relationships with clients spanning many years, and in such cases the suitability of candidates is paramount. It is also important that such agencies operate with a high level of professionalism. When corporate entities elect to use an outside executive search firm, it is usually because they lack the internal research resources, networks, or evaluative skills to properly recruit for themselves. Using an outside firm also allows the corporate entity the freedom of recruiting from competitors without doing so directly, and the ability to choose among candidates that would not be available through internal or passive sourcing methodologies. Some executive search firms are regional, while others are global. Many specialize in a particular sector.
The contractual relationship between client and executive search firm fall into two broad categories: contingent and retained. Contingent recruiters are paid only upon the successful completion of the "search." Retained recruiters are paid for the process, typically earning a recruiting fee in 3 stages.
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