Executive search is often a recruitment service currently in use to hire the candidates for the situation of executives in various organizations. Executives are crucial in every organization from low to high-level in many departments. Companies who need executives may either hire them directly or can engage a third party firm to hire such executives for these kind of people. It’s not easy to hire a good candidate for executive position especially if you choose to not have many contact and steps.
There are firms out there known as executive search organizations. These firms work as a other for your company’s recruitment. There a variety of benefit of hiring such companies for the recruitment. They have good experience to locate and hiring executives, so they can do the task for you in lesser available free time. As you are running a business, you may not get sufficient to be able to conduct the interviews and choose the individual from a crowd, so it is to beneficial to employ a third party firm to do your responsibilities. 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 lifestyle. An executive search firm will promise with the hiring of a perfect executive for company.
We will now discuss working associated with firms. There are three types of executive search kinds. 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 company to recruit officer or senior executives for them. The fee that the executive search firms charges commonly 30% of your annual salary of the recruited executive and this is paid in three payment.
Delimited or engaged search
This search model is similar to retained search with certain differences. Much retained search, it demands the company to pay the executive search firm in advance, but with the condition how the fee is refundable in case if the firm unable to locate a suitable executive for the post.
Contingent search
These firms are somehow different from the above only two. These firms do not obtain the payment in advance, only once the executive has joined group. These firms usually get a 20% in the annual salary of the recruited professional. They receive the payment always from recruiting company not from the hired company.
Executive search firm is an ideal option for everybody kinds of companies. As an executive is a vital part for the firm plus it may never be easy for the company to look for talent in the market, it is to work with a firm can easily do task for that you.
Fortra Executive Search
537 Hamilton Ave #100, Palo Alto, CA 94301
(650) 823-1138