When a company opts to enlist an external consultancy for help with the placement of fresh executive talent, its choices are usually contingency recruiting or retained executive search. Hiring a retained executive search agency has many benefits.
The retained executive search firm you engage will help in many ways including coming up with a tailor-made search strategy and candidate on-boarding. Oftentimes, the agencies don't pull out as soon as an hire has been made; rather, they continue to consult and find out more months after hiring, and that's since their achievement is defined by the competencies and devotion of the hired executives in the long haul.
The firms prefer to carry out the searches exclusively minus the involvement of any other employment agency, making sure that the process is aligned to the client, and it's supported with enough resources toward landing the right candidate. Once you enlist the appropriate hiring firm, they'll engage you closely while using their time and deploying an acceptable methodology to come up with the best individual for the open position. The process is carried out meticulously to produce a shortlist of 4 to 6 high-quality prospective names developed from a thorough nationwide process, starting with up to 300 or more initial targets.
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Likewise, the effectiveness of retained executive search stems from its wider reach. Remember the fact that about 75% of all working professionals are referred to as passive, indicating that, while they may not be involved in active job searches, they're open to changing jobs. According to credible stats, only about a quarter of the total workforce is actively seeking a fresh career chance. The problem with that stat is that most recruitment processes focus on the smaller pool of potential employees. On the other hand, retained executive search agencies aggressively look for the right candidate for the open role, utilizing their competencies, capacities, and tactics to pinpoint candidates in the considerably larger 75% passive fraction that may be willing even if not looking.
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While retained search may seem to be more expensive than other recruitment methodologies, the fact remains that retained search companies are always looking for and will find the most qualified persons for the job. On average, a retained hire winds up being the most ideal for the job, and ultimately stays in the position for longer than viable with other types of hiring processes. When you're seeking to fill an executive level vacancy or other less expensive recruitment techniques are in effective, retained search is the right solution.
For sure, you can rely on retained executive search when seeking to hire some of the most difficult-to-find executive talent.