Stewart, Cooper & Coon-placing executives in $200K+ positions

  • ABOUT SC&C
  • CONTACT US
  • CLIENT LOGIN
  • STAFF LOGIN
  • MY CART
    No products in cart.
  • Home
  • Individual Executive Placement
    • Client Profile & Successes
      • Video Testimonials
      • Placed Client Interviews
      • Online Reviews
      • Client Success Stories
    • Cutting Edge Branding
      • Why Use an Executive Coach & Career Strategist
      • Career WebFolio©
      • The ViewPoint©
      • The Master Interview©
    • The Basics
      • 8 Executive Career Change Dilemmas
      • Placement Data
      • It’s Not About Job Search!
  • Boards of Directors
  • Military Transition
    • Unique Challenges –Military To Civilian Transition
    • General Officer Program
    • ETAP / CTAP Schedule
    • Meet Military Team
    • Contact
  • Retained Search
    • Why Choose SC&C
    • SC&C Search Process
    • Completed Searches
    • Meet Our Team
  • Career Resources
  • Home
  • Businesses
  • Tips For Business Leaders Partnering With Retained Executive Search Firms
October 5, 2023

Tips For Business Leaders Partnering With Retained Executive Search Firms

Tips For Business Leaders Partnering With Retained Executive Search Firms

by fredcoon / Thursday, 18 May 2017 / Published in Businesses, General executive advice, Recruitment

According to Peter Felix, former president of the Association of Executive Search and Leadership Consultants, and recent statistics, the global executive search market continues toward a hopeful future.

As we explore the direct connection between business leaders and retained executive search consultants, we should know that retained search firms often prove a high-quality investment for employers.

Comparing Contingency And Retained Executive Search Firms

There are differences between a contingency recruiter and a retained recruiter. A contingency recruiter works to supply a greater number of candidates to a hiring company in order to enhance placement odds. While contingency search offers an appropriate option for immediate, shorter term and candidate-focused circumstances, retained executive search firms offer hiring companies a distinct set of necessities:

• Higher-end screening for clients who want only final candidates for selection

• Delicate negotiations required to persuade the candidate to shift to a new position

• C-level placement and commensurate compensation and benefits consideration

• The highest levels of confidentiality

• Extended third-party negotiations

Forbes - Partnering with Exec Search Firms_Shutterstock via Forbes_RESIZE_SMALL

Photo courtesy of Forbes Coaches Council via Shutterstock

C-Level Searches

When it comes to your C-level staff composition, there are two guiding principles to consider when partnering with a retained executive search firm:

• Patience. You’ve entered this agreement to make the right choice, not the fast one. The individual you choose should be with your company for years to come, so avoid rushing the process. Approach this venture as less of a transaction and more of a partnership. Executive search firms have vast connections and networks, often spanning global markets. Be open to sitting down for some qualitative discussions to help your firm find the best possible selection for your needs.

• Foresight. Take the time to develop the qualities you’re looking for to best suit not only the role and position but those that genuinely match the vision and character of your company. Determining whether a candidate will be a solid match three years down the road is quite different from the first impression of a handshake.

Accordingly, there are also specialized guidelines that can help hiring managers improve communication and reach a successful outcome with their chosen retained executive search consultant:

1. Create the right job description. This is the first and most important step in the process. Getting it “right” the first time increases efficiency, decreases misunderstandings and improves not just the search but the quality of the candidates and the sequencing and timing of events. This all contributes to a faster, more targeted search.

2. Inform your consultant immediately when a position becomes available. Quality candidates are in high demand, so when an important role becomes available in your organization, be sure to immediately notify your executive search consultant. The sooner you express your hiring needs, the sooner they can set out to find the right talent for your position.

3. Respond to correspondence from your consultant in a timely manner. Any messages you receive from your search consultant are likely important. Taking too long to respond could mean the difference between filling your available position with promising new talent or not at all. Ignoring important messages is not only wasting your consultant’s time but that of an eager candidate. So be sure to check your inbox on a regular basis.

4. Be ready to interview. Whether you are personally performing the interview or delegating to a team, make sure that the process is organized and ready to go. For instance, the individual(s) responsible for interviewing should be familiar with the candidate’s facts based on their resume and information provided by the search firm. The interviewer(s) should also be ready to deliberate with the rest of team following the completion of the interview.

5. Provide your consultant with the appropriate feedback. Once the interview has transpired and your team has discussed the pros and cons of the candidate as a potential employee, be sure to immediately communicate your findings to your retained executive search consultant. This will ensure that you do not miss the opportunity to hire a quality candidate. If your feedback is less than positive, it will precipitate the next step in finding a new prospective employee, while also allowing the former candidate to move on with his or her own job search.

6. Keep questions employment-focused. Remember that questions and topics of discussion during a job interview must remain centered around how the candidate’s skills and expertise relate to the position itself. To prevent legal quandaries, be sure to avoid any personal inquiries, especially those relating to religious, political, or ethnic backgrounds and/or inclinations.

7. Present the company in the best possible light. In the end, it is the employer who has the most influence over the candidate’s decision. While the search consultant can highlight the best parts of the position and the company, it is the hiring team who must do their part to “sell” the company as a positive and inviting work environment. Explain to the candidate, in positive terms, why they should want to work for you.

8. If they ask, help your consultant close the candidate. Since highly qualified candidates are in high demand, there may be some competition with which to contend. In many cases, the retained executive search consultant will be able to pre-close your chosen candidate. However, if the path toward an offer becomes more difficult than expected, please do your part to assist your consultant. If you’re requested to appear at a meeting, be sure to accept and work as a team with your search consultant to ensure the best results.

9. Let your consultant handle the offer process. Retained executive search consultants are trained on how to extend job offers to candidates. Allow them to exercise their know-how in the right way. While the figures may have already been settled upon, interjecting under the wrong circumstances can be disastrous, and even cost you the perfect candidate.

As a hiring manager, understanding the basic principles of retained executive search firms and following these simple guidelines will not only increase your chances of locating the best fit for your open position but also speed up the process at which it happens.

Fred Coon, CEO

Fred Coon is Chief Executive Officer of Stewart, Cooper & Coon, and the author of several best-selling career books. He is also an official member of the Forbes Coaches Council, where this article was originally published. 

0
  • Tweet
Tagged under: hiring managers teaming with retained search consultants, recruitment advice, retained executive search firms, working with career professionals

What you can read next

Four Basic Ways CEOs Maintain Their Productivity Levels
The Impact of Philanthropy on Your Business
The Best Way for Execs to Identify and Handle Mistakes

Notice: Undefined variable: user_ID in /var/www/html/stewartcoopercoon.com/wp-content/themes/kallyas/comments.php on line 73

You must be logged in to post a comment.

Submit Your Resume

Contact Us

  • Home
  • About Us
  • Career Resources
  • Individual Executive Placement
  • Boards of Directors
  • Military Transition
  • Retained Executive Search
  • Contact
  • Sitemap

Our site is SSL enabled, ensuring all communications to and from our website are encrypted and your information secured.

© 1997 - 2023 Stewart, Cooper & Coon, Inc. | 2942 N 24th St | Suite 114-(727) | Phoenix, AZ 85016 |
Phone: 602-385-3000 | Toll Free: 866-883-4200
TOP
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT