Posts Tagged Retained Search
Senior executive hiring market has turned a corner
Posted by Frank Mortimer in Executive Search on January 24, 2010
Slowely better news is creeping in: Ninety-one per cent of executive search consultants hold a neutral to positive outlook for the executive search business in 2010, revealing renewed confidence as the senior recruitment industry gains momentum following the downturn.
According to the 2010 Association of Executive Search Consultants (AESC) Member Outlook Survey of December 2009, 77% of those surveyed expect revenues to increase in 2010 and over half plans to hire more consultants this year.
Healthcare/life sciences and energy/natural resources industries are predicted to see the most growth this year. And China was considered to have the greatest demand for talent regionally, followed by India in second place.
AESC president Peter Felix said: “These outlook results for 2010 indicate very strongly that the executive search business, and thus the senior executive hiring market, has turned a corner. It is indicative of a new spring in the step of top management of organisations and a realisation that with a new environment decisions about the quality of executive teams are of paramount importance.” “I am very pleased to know that our member firms, representing the highest quality in the worldwide executive search profession, are again able to view their market place with a degree of optimism.”
Felix adds that: “There is a discernible change in the attitude of senior executives as they compare and evaluate opportunities within their existing workplace against new opportunities elsewhere. It is often in turbulent times that unusual career openings occur for talented executives and those willing to consider a move can be highly rewarded.”
The research encompasses the opinions of 268 executive search consultants worldwide.
source: Recruiter & The Gapelineonline, January 21, 2010
What is Contingency Search?
Posted by Frank Mortimer in Executive Search, Uncategorized on June 5, 2009
Contingency search firms are compensated for their services only after they have placed a candidate with a client company.
Generally, a contingency firm takes a broader approach to a search, typically uncovering a wider range of resumes than retained firms. They are also more likely to focus on filling mid-level management positions.
Some contingency firms concentrate on specific industries, but most of the companies serve a wide variety of industries and clients.
What is Executive Search?
Posted by Frank Mortimer in Executive Search, Uncategorized on June 5, 2009
The executive search profession has two distinct fields, contingency search and retained executive search. Retained search firms are paid a retainer fee to locate and evaluate potential internal or external candidates for a senior level position.
Retained executive search firms are firms paid a retainer by companies to locate and evaluate potential internal or external candidates for a senior level position. The retainer is paid regardless of the outcome of a particular search.
This type of arrangement is typically implemented for senior-level management, such as CEO’s, Presidents, Vice Presidents, Directors, or in larger organizations, persons at the Manager level. There are large, global firms who engage in this activity, as well as regional “boutique” firms. Some smaller firms act together as a network to compete with the large integrated ones. Some firms specialize in specific industries or functions ore roles, while others are generalists.
There are basically two types of Retained executive search firms
1. – Global
2. – Boutique
Ad 1. Global executive search firms:
Such executive search companies will have many offices all over the world and the consultants will typically be split by which sector they are expert in. These executive search firms cover different sectors including financial services, logistics, automotive, life sciences, consulting, consumer, energy, pharmaceutical, telecommunications, technology, media companies, real estate and other industries.
Example: www.kornferry.com
Ad 2. Boutique executive search firms:
Such executive search companies focus on one or two specific sectors or functions. For example, there are a number of boutique firms that operate within financial services and tend to look only at senior positions (Director, CEO, MD, President and Vice President) within Trading, Investment Banking, asset management and Capital Markets. These firms will have representatives in the major financial centers in the world: New York, London, Hong Kong, Shanghai, Tokyo, Dubai, Mumbai, Singapore, Amsterdam, Paris, and Frankfurt
Example: www.mullersearch.com
Source: www.allheadhunters.com
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