Executive search and recruiting is a process of locating qualified candidates for senior management positions. These firms are often hired by companies who need to fill a specific position. They are known for providing a white glove service. An executive search firm focuses on sourcing and hiring highly skilled and specialized executives for senior level positions. They can also help in creating a company website. Executive search and recruiting firms are hired when it is difficult to find top talent. This is particularly true when the position being filled will impact the success of a project. In addition to locating candidates, these firms also provide contractual assurances to clients. The primary benefit of an executive search and recruiting firm is that it identifies the right candidate for the position. However, it also takes time and expense to conduct these searches. It is not unusual for an executive search to take between two and four months to complete. During this time, the search firm will conduct a detailed investigation into the skills, experience, and background of the prospective candidate. Using this information, the search firm will then produce a candidate report. A candidate report provides a clear and objective evaluation of the suitability of each candidate for the position. When a firm uses an executive search and recruiting firm, it is usually on a retainer basis. Some firms work on a fixed fee basis, while others bill on a monthly basis. This helpful link shows you the bills. As a result, the total cost can range from a few thousand dollars to tens of thousands of dollars. Typically, the fees are paid in three or four monthly installments. There is typically a deposit at the beginning of the search, with the rest due when the position is filled. Depending on the region, the fees can be between 20 and 25% of the first year's guaranteed compensation. Depending on the location of the candidate, there may be an extra fee for expenses such as travel, private meeting rooms, or relocation. Often, executive search firms will bill their fees based on the number of deliverables they achieve. For example, a search firm might charge a fee of 30 to 33 percent of the first year's guaranteed compensation for a position. Those fees are then further billed when the deliverables are achieved. Unlike recruitment agencies, executive search and recruiting firms have a thorough investigative process that identifies the most qualified candidates for a particular position. They can use databases or make personal contacts to research available candidates. Before making a selection, the executive search firm will thoroughly assess the candidate's skill set and career goals. The executive search firm will then interview the shortlisted candidates and create a comprehensive candidate report. The candidate report contains a summary of each candidate's skills, experience, and accomplishments. A resume is also provided, which will include an overview of the applicant's history, along with a brief summary of each individual's previous employer. Several executive search and recruiting companies work internationally. Many of them specialize in particular industry groups. Companies such as F&C Executive Search and Recruiting and Bentley Price Associates specialize in identifying and sourcing highly specialized candidates. This link gives you more information on recruit firms: https://en.wikipedia.org/wiki/Executive_search
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