An Introduction to Retained Search

It is up to you as a 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, we are 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:

• You want to see the best possible people choices for the position, and that means going through the entire process of discovering your different alternatives, thereby increasing the odds of making the right decision the first time around.
• You want the clarity of knowing you found and considered the potential and available professionals to fill this key role for your organization. You are not going to settle for the first available individual that has the skills to do the job.
• You want to be able to consider all the best options and then make an offer to the best executive for you.

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?

Time
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?

• What will be the value to the business if the new executive is a place holder who cannot bring about significant change and progress?
• Will your competition gain from your shortsighted fix?

Also, is it significant to you that in the retained search process that you have your positive brand marketing message communicated to 150 or more executive decision-makers in the process of finding your best candidate; is that additional benefit valuable to you?

Scope
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? Can you afford to keep scorching the earth until every professional has been uncovered and interviewed? And for how long? What's the limit?

Money
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?

Hiring Results

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.

Click here to learn more about our approach to retained search.