- Search Jobs
- Employer Directory
- Career Center
- My Tools
- Other GN Sites
In a competitive market, organisations vie for the best talent to achieve their strategic goals. Depending on the role, they can use two methods: contingency recruitment or executive search. Although both achieve the same result in filling a position, they use different methods to ensure the best person is hired for a specific role.
Contingency recruitment is employed by clients to source candidates for junior or non-specialist positions where there are large talent pools, whilst executive search is typically used to source specialist or very senior skill sets where there is scarcity in the market such as at Chief Executive Officer level.
When organisations begin the contingency process, they reach out to several firms that introduce candidates from their database. For executive search, it is usual to engage one search firm to target the best individuals in the market regardless of whether they are seeking a new position or not.
On receiving the specifications from the client, the search firm develops a long list of relevant individuals through market mapping, using their network and placing adverts on sector specific platforms. Once it is compiled, individuals are approached with the opportunity and their suitability assessed. After a series of conversations, a short list of the strongest candidates is presented to the client and the interview process begins.
There are myths that executive searches cost more and take longer than contingency recruitments. This is certainly not always true and organisations typically find that searches can be faster and more cost efficient with fixed fees. If you are looking to hire, contact a reliable recruitment company to assist you.
• Executive search decisions are based on cost-per-hire screen
• Recruitment companies can accelerate the search process
• Search consultants assess each of the talent’s background
Learn how to make sure the talented remain for the long run
Source: Nicholas Ford, Special to Jobs & Careers
The writer is Financial Services Recruitment Consultant, Cobalt Recruitment