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Hiring the Best Talent By Retained Executive Search: A Guide When a company opts to enlist an external consultancy for help with the placement of fresh executive talent, its choices are usually contingency recruiting or retained executive search. Hiring a retained executive search agency has many benefits. The retained executive search firm you engage will help in many ways including coming up with a tailor-made search strategy and candidate on-boarding. Most of the time, these firms don’t pull away just after an executive has been hired; instead, they continue to engage and follow up long after hire, and that’s because their success is defined by the long-term effectiveness and commitment of the employed executive. The firms prefer to carry out the searches exclusively minus the involvement of any other employment agency, making sure that the process is aligned to the client, and it’s supported with enough resources toward landing the right candidate. If you find the right recruitment agency, they’ll work closely with you, committing their time and applying an agreed-on methodology to pinpoint the best person for the vacant job. The system is implemented to be meticulous with a high-quality 6-4 potential candidate shortlist that’s the result of an extensive national search involving up to 300 plus original targets.
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In addition, the efficacy of retained executive search is tied to its wider coverage. Don’t forget that almost 75% of all working experts are considered to be passive, suggesting that they may easily change jobs even when not actively looking. As per reliable statistics, only around 25% of all the employed people are actively looking for a new job opportunity. The issue with the fact is that the majority of the recruitment approaches only look in the smaller pool of prospective workers. On the other hand, retained executive search agencies aggressively look for the right candidate for the open role, utilizing their competencies, capacities, and tactics to pinpoint candidates in the considerably larger 75% passive fraction that may be willing even if not looking.
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While retained search may seem to be more expensive than other recruitment methodologies, the fact remains that retained search companies are always looking for and will find the most qualified persons for the job. On a general note, a retained placement pans out to be the most suitable for the position, and ends up holding on to it for longer than possible with other recruitment approaches. Retained search will save the day when you’re recruiting for a top level executive job or other hiring methodologies fail to produce results. When you desire to employ some of the hardest-to-find executive personnel, you can certainly count on retained executive search.