We all know what recruitment is, and what a recruiter does. This is somebody who looks to fill jobs within various companies and organizations. Generally, this is an outsourced part of business, especially when done on an executive level.
An executive search firm differs from other employment agencies because it specialises in filling the top professional positions. The recruitment team that a company takes on needs to have a large range of contacts and a detailed knowledge of certain sectors.
Generally, as the name suggests, these people are hired to find people for the top positions and tend to be used in hiring, interviewing and presenting candidates to their clients. Often, these executive search agencies will have relationships with clients that we see lasting for many years. This relationship often sees executive recruiters give clients the inside scoop on their competitors.
There will be a compensation method in place whereby the company will either be contingent or retained. What happens with contingent recruiters is that they get paid only on completion, and retained recruiters will receive theirs in three seperate installments – a third for initiating search, another third for delivering candidates and the rest once an offer is made to a selected candidate.
This has all combined in recent years to mean that the days when these companies were called “employment agencies” has passed and now they tend to represent clients as opposed to the candidates for a certain job.
Often classed as headhunting, this is one of the most competitive and difficult jobs to master and excel in. The environment that recruiters work in is more competitive than almost any other industry on the planet.
The reason why companies use this type of recruitment can be quite obvious. A knowledge of the industry is crucial so that the company knows that the recruitment agency understands exactly what to look for in a candidate.
Additionally, it could be that a company needs to use an agency so as to approach candidates in discretion. Similarly, there may be a need for a non-bias external perspective on things while also getting results under constraints of time.
A firm will expect the executive recruiters to have a full understanding of their needs and be briefed about what they will get in return. Having a number of suitable candidates, alongside solid communication is something that all companies will be looking for as a minimum from executive recruitment agencies.