If one or more executive search recruiters have contacted you in order to help you find the right people to fill your open positions, it is a good idea to understand the search process used by these executive search firms. Minneapolis businesses and applicants can benefit from the highly valuable services offered by these firms.
Why Companies Work With Executive Search Firms
In essence, executive search companies stand in the role as consultants to the clients they serve. They are separate entity from the company that needs to fill one or more particular positions. Businesses with open positions hire these search firms on a contract basis. They do this because they do not have the time or necessarily the expertise to effectively perform the tasks necessary to find and research candidates for their positions. These firms provide businesses with prescreened candidates that match well with the requirements of any particular open position.
The Search Process
Executive recruiters have particular knowledge about the current job market and the overall industry related to the positions a company needs to fill. These search firms can facilitate various aspects of the hiring process including the interview process, negotiations regarding salary expectations, etc. When the entire process is finished, the company will hire the candidate and pay the executive recruiter a fee for the services they have provided. The candidate does not pay any of this fee, whether hired or not.
Executive Level Placements
The term executive search implies positions that exist at the executive level of the company – these may include Vice President, Director, etc. These steps of positions often include considerable benefits and bonuses in addition to healthy salaries. These may include bonuses on a quarterly or annual basis, relocation assistance, deferred compensation, and more.
Finding the Right Candidates
Some of the methods utilized by executive search firms to find the right candidates include sending direct mail requests, sending email, utilizing social media sites, posting on niche job boards, and using online search techniques. The search firms utilize large databases of previously screened candidates who are qualified for various types of positions. In addition, these firms sometimes have met individuals had various events or through networking activities.
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