WHY USE NEW IRON SOLUTIONS?
The Benefits of Retained Executive Search
When organizations consider engaging an outside firm to help find new executive talent, they must decide between retained executive search and contingency recruiting. However, there are distinct advantages to utilizing a retained executive search firm.
A retained executive search firm is engaged in every aspect of the search process, starting with defining a tailor-made search strategy and all the way through candidate onboarding. In addition, retained executive search firms often continue consultation and follow-up months after the hire since their success is based on the newly-hired executive’s impact and long-term commitment.
Retained Executive Search firms search exclusively for the company – no other recruitment agencies will take part – so it will be highly client-focused with a total investment of resources to find the right candidate for the right job. Retained search firms work very closely with each client, take their time, and use an agreed-upon methodology to find the best person for the job. The process is rigorous, with a shortlist of 4 to 6 qualified prospects developed after an exhaustive national sourcing process, often beginning with over 300 initial targets.
While retained executive search may seem expensive up-front, it is typically more cost-effective in the long run. The client is not paying any additional expense because the retainer is deducted from the final invoice upon placement. The key is that retained search firms are looking for the most qualified candidate for the position, which always leads to a much better return on investment. Studies have demonstrated that a retained placement is a better fit in their position and company culture, and typically stays in the job longer than any other type of recruiting process. Companies typically request a retained search when looking to fill executive-level positions, especially when all other less expensive – and ineffective – search options have been exhausted.
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