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Straight Talk for the Recruiting Profession


Articles tagged 'retained search'

Industry News

Value of Retained Executive Search Consulting Is High, But Relationships Still Transactional

by on Oct. 27, 2011


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The worldwide Association of Executive Search Consultants (AESC) released its bi-annual report today of client satisfaction levels with retained executive search consulting. Overall, respondents endorsed the differentiated value of retained executive search and its contribution as a high-end consulting service for the recruitment of top management.

According to the survey, during the past decade a number of developments have provided pause for thought and reflection within the retained executive search profession, including:

  • The development of internal recruiting functions (the survey revealed that 2/3 of the companies who completed the survey have an in-house search function)
  • The rise of social media
  • Pressure by clients on the terms and conditions of doing business
  • The challenge of introducing retained search into emerging markets
  • Opportunities to provide leadership consulting services
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Jeff's On Call!

Jeff’s On Call!: Converting From Contingency to Retained Search

by on Aug. 22, 2011


law_gavel

This week’s inquiry comes from Brigitte Welters:

Dear Jeff,

First of all, I really appreciate your advice and expertise concerning placement very much. I hope you can advice me on following subject matter:

A short introduction:  I manage a headhunting agency which is specialized in placement of professionals. This company is based in the Netherlands and we place mid-level to high-level professionals in the legal and financial field in the Netherlands. We work mainly for international firms. These clients are very appealing to our candidates since they offer interesting career opportunities and development for them.
Our clients set very high standards; multiple in-depth interviews and tough assessments are the rule. Working in this field of placement is very interesting and challenging; not one day is the same.

We now work for the largest part on contingency basis. Yes our clients are happy with our services, however, we now want to work for the largest part on retained fee basis. The reason we want to convert is that contingency poses many risks for us.

My question is how to convert contingency-based services to a retained fee business?

Thanks so much for your advice,

Kind regards,

Brigitte

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For Managers, The Business of Recruiting

The Globalization of Retained Executive Search

by on Jul. 29, 2011


earth by US Mission Geneva

Phileas Fogg in Jules Verne’s famous odyssey was a predecessor of today’s road warrior. Having recently completed a ‘round-the-worlder’ I could have wished for the lack of jet lag that Fogg must have enjoyed, but maybe the rigors of modern airports are nevertheless less demanding than the Indian jungles, snakes, hot air balloons, and other obstacles with which he had to grapple – or not.

There is no doubt that travel broadens the mind even though it cricks the back and dehydrates the body. But it is a pre-requisite in today’s world of business and in executive search.

I have recently had the opportunity to visit Brazil, China, India, and the Middle East on behalf of the Association of Executive Search Consultants (AESC), meeting our members, listening to market experts and senior HR leaders, and talking to the press. It has been an education but also a revelation since it has brought home to me how much the world is changing, and has changed, post-Lehman (as it is referred to in Dubai).

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Industry News

AESC Report Shows Steady Start for Senior Executive Recruiting in 2011

by on May 10, 2011


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According to the Association of Executive Search Consultants’ (AESC) first quarter 2011 report on the retained executive search industry that was just released, the industry is showing signs of steady growth and reason for confidence in the year ahead. This follows a 29% comeback for senior executive recruiting in 2010 against the lows of 2009. In the report, first quarter data revealed a 7% rise in the number of new executive searches started worldwide from the fourth quarter of 2010.

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TFL archives, The Business of Recruiting

Both Sides of the Desk

by on Dec. 22, 2010


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In August 2001, my dream of going back to work for the US Government fell through, and I was subsequently adrift without a backup career plan.  At this time I entered graduate school full-time with the goal of becoming better educated while trying to determine the next step in my working life.  In December 2001, while feeling the disappointment of not having a definitive career goal, I went to go see my parents’ next-door neighbor, who just happened to own a search firm, seeking career advice.  I figured he could point me in the right direction or somehow give me a professional epiphany.  Low and behold, after several conversations I was offered a position in his firm.  In January 2002 I started my career as a professional recruiter.  I worked for this boutique search firm until November 2004 at which time I transitioned onto the corporate side of the “recruiting desk”.

Why this transition?  When one works in a boutique search firm he/she tends to learn a lot about the crucial foundation of recruiting.  But, what a “young” recruiter fails to learn in a search firm is how a corporation works regarding the important synergy and integration between the corporate business and the role recruiting plays in its success.

I came to the conclusion that I needed to know this information and get this experience if I wanted to become successful and last long-term in this highly Darwinian business.

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Business, Industry News

New AESC Report Indicates Executive Search in Transition

by on Dec. 7, 2010


Global

In a report published today by the Association of Executive Search Consultants (AESC), the worldwide professional organization for retained executive search consulting, key trends indicate a professional service undergoing change as client demands broaden on a global scale and the industry adjusts to the impact of the internet.

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The Business of Recruiting

Should You Be An Executive Talent Agent?

by on Jun. 22, 2010


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Being retained by, advising, advocating for, and representing prospective employees can be a fulfilling career in the recruiting industry, especially for those who enjoy individual job search coaching, extensive interaction with candidates, and focusing on individual candidate’s needs.

Executive talent agents and headhunters (also called executive search consultants or external recruiters) are often mistaken for each other. They appear to produce the same outcome: introducing executives to potential new employers. However, the two roles should not be confused. The two professions are paid by, loyal to, and represent separate parties that may have different priorities and opposite interests related to the employment transaction.

For candidates, having an executive talent agent can be a competitive advantage by providing expert, confidential, personalized career guidance, exclusive entrée to prime inside connections, and comprehensive professional services that support the daily job search-related needs of busy executives. Various financial models exist. Some agents collect 100% of their compensation from candidates. Others work on a modest retainer from candidates and charge employers a much larger placement fee. Total compensation for each client can range from a percentage of an executive client’s annual compensation to a project-based or hourly fee. While executive agents are engaged by candidates, hiring authorities also benefit when an experienced third party serves as a liaison brokering a transaction.

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