Executive Recruiters Key Terms

Boost your knowledge of terms associated with executive recruiters before outsourcing your hiring needs

Executive recruiters work specifically with firms that are looking to outsource their higher-level recruiting needs, generally c-level (CEO, COO, CFO, CIO), president, vice-president, project management and more. These recruiters specialize in consulting with businesses to hire the right person for the position or project. Executive recruiters can staff these high-level professionals through several contract options including retained, contingency and contract staffing. Before you decide to use an executive search firm for staffing your next executive, consider some of the more common key terms used by executive recruiters.

 

Retainer, retained services

By definition, a retainer is a partial fee paid to a firm for professional services the firm will render. An executive search firm that works on a retained basis will charge their client a set flat fee, plus advertising up-front for use of the firm, whether an individual is hired or not. Some retained firms will collect a partial payment up-front and the remainder once they fill the position. Executive search recruiters who are retained for their services are often called consultants, since they have the expertise to help you build your business with the right candidate. Retained firms are more pricey, but provide a level of service that other types of executive firms may not.
Try: For an in-depth description of how a retained firm works, review Kulper & Company's website. WorkBloom.com also details out how a retained firm works for both job candidates and the client they're hiring for.

Contingency, contingent services

A contingency, or contingency contract as it's sometimes called, is where a business works with an executive recruiter on a conditional basis. In other words, they pay based on what the recruiter actually does for them; payment is generally rendered after the services are completed.
Try: Review a definition from the book, Proactive Sales Management, offered through Google's book search tool, on contingent search firms.

Project or contract staffing

Project staffing, also known as contract or special projects staffing, is more of a short-term executive recruiting strategy. Generally, when a company needs a project manager or high-level professional for a short-term project or position, they can turn to an executive recruiter to meet this need.
Try: Review a definition of contract staffing at Affinity Executive Search.

Industry-specialized executive recruiters

A specialized executive recruiter or search firm focuses on specific industries, only staffing within those industries. A specialized recruiter will know the industry inside and out, whether it be staffing for the accounting, construction, finance, healthcare or IT fields.
Try: Reaction Search International provides more information on how a industry-specialized recruiter and search firm works.

Recruitment plan

A recruitment plan is a set of strategies developed to place a successful candidate. A recruiting plan can start with a vision of the organization's future direction as well as the steps it needs to take to get there, including the recruitment of the right talent at the right time and in the right job. Depending on what talent you need to fill a certain position, plans will vary, but it's important to seek out firms that have an established plan in place.
Try: Executive Recruiting Team (ERT) gives insight into their search process by detailing out their recruitment plan for clients.

Association of Executive Search Consultants (AESC)

The Association of Executive Search Consultants (AESC) is an organization that helps support those working the field of recruiting consulting services and executive recruiting. When deciding to outsource your staffing needs to a retained firm, see if their organization is a member of AESC or if they are AESC certified.
Try: Review AESC's Industry Introduction for more information on what this association can provide for executive recruiters.

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