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Selecting
a Search Firm
Conducting
a thorough and successful search requires a substantial amount of your
time and resources. A company should select a firm who will represent
them (a retained search firm), as opposed to representing the candidates,
and should expect to receive professional services based on experience
and integrity. The following guide will help you receive full value for
your investment.
A retained
executive search firm should:
- Belong to AESC.
- Provide an accurate
assessment of its capabilities to perform the search.
- Tell
you who will be involved in conducting the search.
- Demonstrate a clear
understanding of the position, the company and the objectives of the
search.
- Hold all information
in strict confidence.
- Provide frequent
communication and a consultative relationship.
- Provide regular,
detailed status reports on the search progress.
- Present qualified
candidates who fit the position and the culture of the organization.
- Help negotiate
with the final candidate, representing both parties with skill, integrity
and a high degree of professionalism.
- Provide a reasonable
level of follow-through after a candidate has been hired.
- Be willing to freely
discuss all matters of fees, expense reimbursements, cancellations,
additional hires, and other details prior to a search.
- Be willing to provide
their obligations and responsibilities to you should a newly recruited
professional leave your company for any reason within an agreed period
of time.
- Serve as an excellent
representative of your firm.
The
Search Process
A retained search
process has many steps. You can expect:
- The consultant
to conduct interviews with the client organization to develop a full
understanding of the position to be filled and the qualifications of
the person to be recruited.
- A summary of this
understanding to be communicated to the hiring executive at the outset
of the engagement.
- An engagement letter
of how the search will be conducted with regard to policies on fees,
expenses, guarantees and assurances.
- Original research
to target organizations and potential candidates appropriate to contact.
- An in-person interview
to determine the candidate's suitability and interest in the position.
- The presentation
of several qualified candidates.
- Final reference
checks to confirm the accuracy of judgments and assure relevant information
about the candidate has been gathered.
- Help in managing
the logistics of interviews, schedules and travel arrangements.
- Help in developing
the job offer and preparing the candidate to accept an offer.
- Assurances regarding
the candidate's tenure and not recruiting from the organization.
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Development Group
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