Executive search is often a recruitment service that is utilized to hire the candidates for the position of executives in various organizations. Executives are required in every organization from low to high-level in many departments. Companies who require executives may either hire them directly or can engage a third party firm to hire such executives for the parties. It’s not easy to hire the ideal candidate for executive position especially decide to purchase not have many contact and steps.
There are firms out there called executive search providers. These firms work as a vacation for your company’s recruitment. There are many benefit of hiring such companies for the recruitment. They have good experience discovering and hiring executives, so they in a position the task for you in lesser available free time. As you are running a business, you may not get sufficient in order to conduct the interviews and choose the person from a crowd, so it is to beneficial to employ a third party firm to do the task. The position of an executive in the company is of great importance and you cannot take risk of hiring an unskilled and unsuitable person for the job. An executive search firm will promise with the hiring of a perfect executive for company.
We will now discuss working of this firms. There are just three types of executive search models. Working of each model is somehow different. We will discuss each model in brief.
Retained Executive Search
In this search model, the company hires a firm to recruit officer or senior executives for these guys. The fee that the executive search firms charges is usually 30% in the annual salary of the recruited executive and individuals paid in three expenses.
Delimited or engaged search
This search model will be retained search with certain differences. Much like retained search, it necessitates the company fork out the executive search firm in advance, but but now condition how the fee is refundable in case if the firm probably won’t be able to choose a suitable executive for the post.
Contingent search
These firms are somehow different out from the above two. These firms do not get the payment in advance, only once the executive has joined group. These firms usually obtain a 20% for the annual salary of the recruited executive. They receive the payment always from the hiring company not from the hired person.
Executive search firm is the best option for many kinds of businesses. As an executive is an important part within the firm and it may not always be feasible for the company to find the best talent in the market, it is advisable to employ a firm that can do task for you actually.
Fortra Executive Search
537 Hamilton Ave #100, Palo Alto, CA 94301
(650) 823-1138