If you’ve never worked with an executive recruiter before, it can be difficult to understand exactly how the partnership is structured.
On one hand, companies will engage an executive recruiter when they need assistance filling an open position. The recruiter learns about the company and the position and recommends candidates to be interviewed.
On the other hand, executive recruiters commonly work hand in hand with candidates who are searching for a new job. They get to know the candidate’s skillset and preferences, then make introductions to companies that would be a good fit.
So, for whom is the executive recruiter actually working?
AN EXECUTIVE RECRUITER IS USUALLY EMPLOYED BY A HIRING COMPANY
A company with a hiring need engages the recruiter in a contract for work. The hiring company is the entity that compensates the recruiter for his or her time and services, typically in one of two ways:
- A retained search: Retained searches are agreements in which the recruiter works closely and continuously with an organization until the best candidate is identified and hired. A retained relationship allows the recruiting firm to utilize all of its resources to attract the best talent.
- A contingent search: With a contingent search, the organization only pays a fee if a candidate is successfully placed. Contingency searches allow a lower level of commitment from both parties to complete the search—and can reduce potential success based on limited resources to attract the best talent.
Another option, which works well for companies with very specific or unusual hiring needs, is a custom search. With a custom search, a recruiting firm could assist a company who needs to fill multiple positions concurrently, for example.
HOW EXECUTIVE RECRUITERS HELP CANDIDATES, TOO
Though job seekers aren’t the people footing the bill for a search, they benefit from a relationship with an executive recruiter. Executive recruiters are a valuable resource to candidates for a number of reasons. They:
- Have deep knowledge of hiring companies and their needs.
- Make personal recommendations to hiring companies of the best possible candidates, which is an effective way of increasing the chance for an interview.
- Are constantly making new contacts at companies in various industries, meaning they’re always aware of new opportunities.
HOW TO WORK WITH AN EXECUTIVE RECRUITER
Are you ready to talk to an expert recruiter about your company’s needs? Let us know.
And if you’re a candidate who’s prepared to take a step forward in the job-seeking process, check out our active searches.