An Introduction to Retained Search
It is up to you as a leader and decision maker to make the right choices for your organization.
Retained search firms exist specifically to provide you with the necessary information and tools for making hiring decisions, so that you can make an educated and thoughtful choice.
Whether you are hiring to bring your business new ideas, a new direction, new talent, or a change in talent, SGES is familiar with the circumstances which drive a business to bring on a new executive.
And we understand that a business requires different talent for each stage in its growth.
Doing it Right or Doing it Now
Making the right decision when it comes to hiring is not easy, nor is it foolproof. But it is one of the most important actions you must take to ensure your organization's growth.
You always have a choice, you can do it right or you can do it quickly. If you want to do it hastily, working with a retained executive search firm is not going to be the right option to suit your needs.
When you choose to partner with a retained executive search firm, it's because:
There is a time investment and a certain level of commitment involved.
Time, Scope or Money Basis for Decision Making
Know what's most important to you: time, scope or money?
This is true should you want to partner with a retained search firm or not. These three choices are never equal in value. What's your top priority of the three?
If you do not have the time to devote to a comprehensive search, can you risk hiring someone quickly who can do the job, but perhaps not as well as others who could be interested in the open position?
Also, is it significant to you that in the retained search process that not only will you have your positive brand marketing message communicated to 150 or more executive decision-makers in the process of finding your best candidate, but you will also have the benefit of a guarantee if the placement doesn't work out and additional candidates as back-ups ; are those additional benefits valuable to you?
If scope is not a top priority, are you limiting the pool of potential candidates to choose from or are you being realistic in knowing the limitations of your resources? If scope is extremely important, can you afford to keep scorching the earth until every professional has been uncovered and interviewed? What's the limit before it starts costing you significantly because you haven't made a hire?
If it's money, consider the entire equation: if you save money by hiring quickly and without a comprehensive process and by doing so hire the wrong person, what will it cost you and your business in the long run? Is it worthwhile to avoid that risky mistake and spend the money and invest the time upfront?
Whether time, scope, or money take precedence, in the end, it's all about the results. The strength of the candidates introduced by the hiring process override every other aspect. These people are the golden treasure. The person you hire in an executive role for your business will be in a position to raise the company's profile or hit the company where it is the weakest.