Selecting A Search Firm

An executive search consultant can be a highly effective resource in helping a company identify and select executive talent with the right balance of skills, experience, and organizational compatibility necessary for success.

The search consultant:

   Works in a confidential manner.
   Has an extensive network and knowledge of the marketplace.
   Casts a much wider net than the company can alone.
   Seeks out the best person for the requirement 
       (rather than merely the most immediately available).
   Conducts in-depth reference and background investigations.
   Advises on compensation levels and packages.
   Ensures objectivity throughout the search process.

Qualifying The Consultant

But it requires a true partnership effort between the consultant and client, along with a substantial commitment by both parties, in order to ensure a successful result.  Some questions you might want to ask before selecting a search firm include:

       1)  How long has the firm/consultant  been in business?
       2)  Who actually will be conducting the search?
       3)  How much experience does the consultant have?
       4)  Does the firm/consultant have sufficient expertise to handle your requirement?
       5)  What are the firm’s/consultant’s reputation and ethical standards?
       6)  Will the firm/consultant be a credible reflection on your company?
       7)  How many assignments does the firm/consultant accept at any one time?
       8)  What companies and divisions are “off-limits” to the firm/consultant 
             for recruiting potential candidates?
       9)  Will the firm/consultant refer all qualified candidates for your consideration, 
             or only those who are not being considered for other clients?
     10)  Will your firm receive top priority?
     11)  How much of the firm’s/consultant’s business is repeat business?

Why Smaller Is Better

Many of the large, international search firms boast that because of their size, number of offices, “internal research capability,” or international exposure, they are better equipped to serve a client.  In reality, however, the opposite is often the case.

	Advances in technology and the growth of the Internet have leveled the playing field between larger and smaller search firms.  Now, any technologically literate search consultant has immediate access to scores of proprietary and public electronic databases.  In fact, smaller firms may even have the edge because they are not tied to any single, inflexible system.  They can be more nimble and go where the data is often fresher and more relevant.
	Smaller search firms are much more entrepreneurial in nature.  They are far more likely to take the time to do whatever is required to understand your business and ensure the on-going relationship with your firm.  They are also better able to immediately respond to the needs of the client, as well as changes in the search process should they arise.
	Larger search firms not only charge higher fees, but also have higher expenses and higher overhead costs ... a portion of which is allocated to each search assignment as “administrative” expense.  Smaller search firms are able to offer the same service with lower fees.  And because smaller firms have much lower overhead costs, the client is only responsible for directly related out-of-pocket expenses.
	Large search firms have many divisions, with many offices, and many consultants.  According to a study in Forbes Magazine, as far back as 1989 the biggest four firms alone had a total of 6,256 consultants!  Because of the "hands-off” policy in the search industry, these firms will not be able to present for your consideration any candidate from any company or division with which any of their consultants have done business over the past two years.  Smaller firms usually have far fewer clients and therefore their “universe" of available candidates is much larger.
	If the "ideal" candidate for your position is currently being considered for any other position, by any other consultant, anywhere within the larger search firm, they are termed "reserved" and are not available for consideration for any other position ... including yours!
	With a smaller search firm you are a major client ... as opposed to just another client as is typically the case with larger firms.  Thus, smaller search firms are far more “service” oriented than the larger firms, and your requirements (and satisfaction) are of major importance to them.