Post on 01-Nov-2014
description
Retained Search Concept is Often Misunderstood
In an era where cost-
effective processes and
bottom line results take
priority in just about every
managed project, it is
surprising how corporate
executives and human
resources managers view
the concept of retained
search.
The Retained Search Model Acquires Top Talent
When it comes to talent acquisition and acquiring BOTH
executive level and KEY engineering, sales, and operations
human capital in today's marketplace, one would think that
the retained search model would be used in a ubiquitous
manner. However, that's rarely the case.
Few Understand the Retained Search Ecosystem
The concept of retained search is often an
antithetical hiring process to all but a few of
the seasoned and savvy hiring authorities.
Over the years this has
continued to be
somewhat of a mystery to
those of us who
understand the true value
of the retained search
model.
Myth – Contingency & Retained have Equal Value
While business in general wants the best results for the
lowest investment, it seems they continually stumble
with the false idea that contingency search cost less
then retained search.
Myth - Retained Search Cost More than Contingency
It appears that the
majority of hiring
authorities see the
retained model as
involving too much
commitment and costs
outside of the normal
recruitment expenses.
Measuring the Investment
As previously stated, a long-standing complaint
of clients has been the perceived notion of high
search fees.
This ridiculous complaint is compounded
during tough economic times when budgets
are cut and scrutinized.
Measuring the Performance
When one considers the financial commitment
of the contingency search firm in its entirety ,
the numbers simply don’t add up.
Especially when you compare the investment
of time and resources of the retained firm in
the search process.
You Want Results!
The benefits of retained search are
innumerable when compared to
contingency search.
“A Players” presented by a retained
search firm, when hired, produce 8
to 10 times more than “B Players’.
(Mercer Management, 1999).
Why would you
even consider hiring
the average B or C
player presented to
you by a
contingency based
search firm?
Contingency Search Lacks Resources
Time after time
we have seen the
total disaster
created in a
contingency
search effort
where the
communication
was ineffective
and resources
woefully
inadequate.
Is Your Key Search a Train Wreck in Slow Motion?
When you see this type of scenario unfold, it’s
akin to watching a train wreck in slow motion.
You know what’s going on, you see it coming,
you try and stop it but alas, to no avail.
Taking Too Long to Fill?
Meanwhile,
the client is
still looking
for an
exceptional
candidate to
fill a critical
need.
The loss does however, exist.
The vast
amount of
revenues or
product
delivery lost as
a result of not
finding the right
candidate in a
timely fashion
is largely
unknown.
Why Continue to Roll the Dice? Trying to fill a
“key” position
that has been
open for months
without an
effective
offer/close?
Frustrated with
relying upon
job boards,
contract
recruiters, and
contingency
search firms to
perform?
How much “Lost Revenue” can you afford?
This is just one of many
tangible cost effective
items that need to be
looked at when
considering the benefits
of retained search.
Compare the lost revenue, failure to
fix a product or service issue, or meet
a customer need when candidates
presented to you don’t meet your
expectations?
Small Investment = Effective Search
At the end of the day, the
advantages and cost
effectiveness of a
retained search far out
weigh the initial
investment in the hiring
process.
The Fear of Partnership
Yet as amazing as it
sounds, hiring
managers have a fear
of partnering with a
retained search firm
and committing to a
process that requires
a contract and
performance based
search fees.
Retained Search Saves Time and Money
In reality a good
retained executive
search consultant
will in effect make
the hiring manager
look good and save
them money and
time both now and
down the road.
Common Reasons Employers use to justify a Retained Search
More Reasons used to justify a Retained Search
KEY Reasons Employers use to justify a Retained Search
Benefits of Retained Search
Faster, more economical, particularly when the
candidates hired are validated to meet or exceed
Performance Objectives
Confidentiality
Provides in-depth search, detailed candidate dossiers,
candidate de-briefing, interview preparation, offer
negotiation, acceptance
More Benefits of the Retained Search
Relieves company of considerable administrative cost,
risk and managerial time plus retention is longer.
Minimizes the possibility of candidates accepting
counter offers.
Relationship, Knowledge and Experience is Key
Fosters a bond between the retained search firm and
the client company.
Develop in-depth knowledge of the client culture,
products or services, objectives, history, and
management vital to recruit top talent.
Performance Based Search Process Delivers!
Unlike contingency firms
who represent the
candidate and most
retained search firms
that collect the entire fee
regardless of whether
they satisfactorily
complete the search,
NextGen’s fees are based
on meeting delivery
milestones.
NextGen Global Executive Search
represents the client as the customer.
Unique Proven Search Process
Our proprietary
Performance Based
Search Process
identifies and recruits
the most qualified and
talented individuals
who are typically not
on the market.
The Power of the Performance Based Retained Search
The performance based
retained search assures
the Client that NextGen
earns the fee in
accordance to meeting
delivery milestones and
the hire of one of our
finalist candidates,
therefore the risk factor
is on NextGen and not
the Client.
Client - Focused
Wireless Systems & Mobile NetworksRAN Systems - 4G LTE DAS - RF Components - Unified Communications
Energy MarketsOil & Gas - Upstream - Downstream - Midstream
Utilities - HV Power & Nuclear - Power Generation Renewables – Wind - Solar - Geothermal - Wave/Tidal
Digital Media - Connected Devices - Mobile AppsSocial Networks - Semantic Web Smartphones - Tablets - Android
iOS - Windows Mobile - Mobile Search - Advertising
Performance Based Retained Executive Search
Decision Makers Key Technical Leaders
Senior Executives
CEO, CTO, COO, CIO
SVP, VP, Director Sales, Biz Dev
CMO, VP Marketing & MarCom
SVP, VP, Director Engineering
SVP, VP, Director, Product Management
CFO, SVP, VP Finance
SVP, VP, Director of Operations
Chief & Principal Engineers
http://www.nextgenges.com/
Conferring with Clients
Defining Performance Objectives & EVP
Defining the Skills Required
Identifying the Intangible Traits
Determine the Critical Goals and Success the Candidate will be Accountable for
Develop the Search Strategy
Sourcing, Interviewing & Screening
Series of In-depth Interviews
Customized Behavioral Testing & Analysis Measures the Quality of Hire
Behind the Scenes Industry References
Presenting Shortlisted Candidates
Sr. Recruiter Videotapes, Assesses, and Determine Finalists to Present to Client
Face-to-Face Interviews, Offer, and Close
Our Search Method Defined
Offices in Chicago, Annapolis, Palo Alto, Boston, Dallas, Nashville, London, UK
Charles Moore
Managing Partner
Practice Lead Wireless Telecom: Systems, Mobile Networks, RF Components
Digital Media: Connected Devices, Mobile Apps, Semantic Web
Energy: Oil & Gas, Utilities HV Power & Nuclear, Renewables
Toll Free: (888) 501-5580 x 102
Office: (630) 560-4412 x102
Direct: (615) 823-2852
Fax: (888) 505-3656
Email: charles@nextgenges.com