How to Identify the Correct Search Firm for Your Hiring Need

FAQ’s about choosing Contingency or Retained Search:

Making a decision on which type of search and who to work with is much easier if you have an existing relationship with a firm that knows your company, its culture, its hiring practices, its talent pool and has had success in the past when identifying the right individual for the role and company. If this is not the case, then ask individuals that you respect and trust for referrals they may know or have worked with for similar searches.

The following questions will guide you toward the right search partner:

  • How Senior is the role within the firm and how will it adversely affect the firm if the role remains open for a long period of time?
  • How urgent is the hiring need? Is there a possibility of losing more staff due to burn out or being over worked?
  • Do you want the search consultant to concentrate on identifying local candidates or does the role require a national search?
  • What level of involvement do you want the search consultant to play within the hiring and on boarding process?
  • How much visibility do you want your company to have with this search, when seeking potential candidates? (what advertising budget has been allocated for the search, costs associated with the interview process, flights, hotels and sign on bonus)
  • What dollar amount have you allotted for this search and how do you want to pay for it?
    • Contingency Search service charges range from 20-33% and are paid only if you hire the candidate.
    • Retained Search service charges range from 25-33% and require payment prior to an actual hire (usually one-third at the outset, a second one- third at the beginning of the interview process and the final one-third at the offer stage.)

Once you have analyzed what components are relevant to your search requirement, you can begin the process of contacting firms. The following questions are a guideline for you to determine what is most important to you and the relationship you are most comfortable with.

  • Do you work on Contingency or Retained?
  • Do you have specific expertise in our industry or are you a generalist?
  • How many searches have your worked in the specific industry and what types of roles have you recruited for?
  • What affiliations, conferences or industry related events do you attend?
  • Is your practice national or local?
  • How many searches do you work in a year?
  • What is your average time line to complete a search?
  • Who will be working on this search within your office, who will be project managing this search?
  • Walk me through your search process and what we can expect during the process.
  • Do you use a certain interview methodology; do you interview all candidates face to face?
  • How will the candidates be presented to us and what can we expect regarding candidate summaries and reference checking?
  • What is your communication process while the search in underway?
  • Which party extends the offer and what is your follow up process during the on-boarding period?
  • What added value can you bring to our organization after the search process is completed?
  • What is your service charge percentage (%)?