The importance of selecting the right executive search firm should never be underestimated.
Choose a wrong one and your organization may suffer costly delays in filling in a crucial position or be saddled with a new hire who turns out to be unsuitable for the position.
To better gauge the fitness of prospective search firms, make sure you answer these questions.
What executive job search experience do you have? Asking this question will give you a good idea on whether the prospective search firm has established expertise in the areas which are critical to the successful completion of your search.
Certainly, the more examples they can share, the better.
You need to have full confidence in an executive search firm's ability to attract high quality candidates who have the requisite qualifications and skill set for your specific need.
What are your search methodologies, and how can you apply them to my requirements? Discussions with prospective search firms should center on how they intend to go about filling your job requirements.
Urge them to be as specific as possible in explaining their strategies in identifying and attracting candidates and to what extent they can offer recruitment guidance for your organization and the candidates.
How will my organization interface with your firm? It will also be helpful to obtain a detailed account of the processes and mechanics of your partnership.
This should include a clear designation of roles and responsibilities, appointment of a dedicated project or recruitment manager, setting up of project milestones, submission of progress reports and schedule of meetings and consultation.
You will want an executive search firm that is willing to communicate with you and address the search in the manner which is most beneficial for you.
What is the expected time line? Corollary to a detailed scope of responsibilities, is an assurance of sticking to a time line that works for both parties.
The time-critical aspects of the recruitment activities should balance out with your schedule and that of the firm's.
Good executive search firms will readily offer an honest assessment of the time necessary to conduct a thorough candidate search.
How involved will you be in candidate negotiations? Search firms vary in willingness and expertise in liaising between the hiring organization and a candidate in the final negotiation stages.
It's a tricky area to navigate, and you'll want a search firm that can represent and communicate the best interests of both your company and the candidate you wish to hire.
What are your fees? You need to understand how the executive search firm will bill for its services.
A retainer-based approach is often ideal as the expenses can be spread out over the course of the project, although some firms are known to accommodate charging a flat fee for certain projects.
Billable items should be scrutinized and should amount to a compelling package of high value services.
A Few Things to Remember The key thing to remember when evaluating prospective search firms is to be as clear as possible in explaining your requirements for the position, your own expectations and the kind of involvement you're capable of contributing to the process.
Tailoring each question according to your organization's specific needs will also help you obtain the answers you need and from there make a well-informed decision.