Executive search firms are necessary for hiring candidates for a particular specialised job description. They are always of two types, retained and contingent. Their working system varies on a lot of levels. Read this article to know about the working of each of these executive search firms and decide the type of executive search firm your company requires.

Retained Executive Search Firm

Retained search firms are advanced job consultants hired by the clients like an administrative role. These types of search firms partner with a client to recognize, evaluate and choose the most suitable candidate for the job profile.

These executive search firms operate on a certain business model and work on a specific number of assignments at a given time. From specifying the search to candidate selection, they are involved in all aspects of the hiring process. Candidates from various backgrounds are also identified and they also have connections to candidates who do not actively pursue a new position.

They charge a consultation fee for the task, and they are highly responsible with their thorough consultation work. Top executive recruitment agencies provide highly professional services apart from just placement or a list of highly skilled candidates, and develop a long-term relationship which is built upon trust.

Contingent Executive Search Firm

Contingent search firms are hired to provide a list of candidates who fit a certain job profile. These types of search firms usually work the front-end of the process, and leave the evaluation and selection process to the company.

These executive search firms provide as many candidates as possible in the least amount of time. They deliver larger access to hireable candidates. They always work with a lot of assignments simultaneously. When a particular assignment does not gain momentum, then the contingent firms have no motivation to continue.

Contingent executive recruitment agencies near you offer their services without taking any advance money and are only paid for the candidates who are hired through them. Their fees are always less which represents their limited scope of work.

Different types of executive search firms work differently. Before hiring an executive search firm for your company you must understand the working of each of the types of executive search firms and decide the best one for you.

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