Time to Address the Elephant in the Room.
Many companies only know bad experiences with recruiters. We’re perceived as pushy, lacking in depth or feedback, and often come off as a used car salesman. The nature of the recruiting business is transactional and in the mad rush to fill the voids in their workforce, businesses fostered this type of behavior by condoning quantity over quality.
We’re here to change all that! We believe that the right recruiter, a power partner, is an essential asset to your company’s success. There’s no greater benefit than to develop a relationship with someone who is plugged into your particular market or niche. They’ll share their knowledge in helping you to manage your career, provide exceptional talent or share market intelligence with you. That’s right, we probably know all the dirt on your competitors!
Below is some information on the types of recruiting models available to you and your company. We are happy to help you work through the process of defining the most effective option for your company.
An internal recruiter is a fantastic option for any company who has the luxury and growth objectives to keep the recruiter busy. A talented person on the inside who really knows the company, culture, product and brings a strong process into a company can really create an impactful experience for prospective employees.
This person should have a seat at the table while being involved in hiring planning, implement interviewing process and structure, lead communication, drive successful candidate identification, offer acceptance and onboarding. Make sure you do have enough hiring in the pipeline to ensure that an internal recruiter is the best option.
It is important to note that anyone who has mastered the art of recruiting and can install an impressive interview process will be expensive, but well worth the expense. Note that a lot of companies who do not recognize the value of a seasoned pro will most likely hire a more junior person to head up recruiting. Be mindful that if you don't set them up for success (pairing them with a mentor or framework in which to be successful they will most likely fail). Develop a structured hiring process or bring in a professional to help set one up and provide mentoring to ensure the best results.
Contingency Search is the most common business model for the search industry. This includes contracting firms and to a small extent job boards. The model is simple: our service is free until you hire someone from the firm. Most search firms operate at about a 15:1 interview to placement ratio so it is important they deal in a high volume of resumes moving in and out on a daily basis. It is important to know that only about 18% of non-exclusive searches are successful, therefore a contingency search recruiter has to serve a large client base. You will be competing with other companies represented by the recruiter.
This is a great model for companies who want to hire a lot of people fast and prioritize candidate flow. The process is very transactional in nature and the screening usually invested in the process is often sacrificed for speed of send out. These recruiters pull from a very active resume pool of people looking aggressively for something new. In fact most of the people found through these means are sourced through the various job boards or apply to postings.
RETAINED SEARCH & EXCLUSIVITY
Exclusivity can happen at the Contingency level but is implicit included with a Retained Search. According to our data, dedicating exclusivity to a firm increases the speed and search completion by 51%. This almost doubles to 97.5 % in a retained search model. Of course, the more critical the role and seniority level, the more time consuming the identification process can be.
Retained Search, or Executive Search, is typically reserved for VP and C-level executives. Firms like Egon Zehnder, Korn Ferry, Heidrich & Struggles and Spencer Stewart dominate this space. However, there are a many independent retained search professionals who perform outstanding work. It is critical to align with the professional who specializes in the role you are trying to fill. The retained model is usually quite deep, lengthy and expensive to run, thanks to the amount of care and resources invested in each search.