According to the 2021 Conference Board Annual Survey findings, attracting and retaining top talent ranks as the top priority for CEOs and other C-Suite executives globally. These survey findings have repeated year after year. Quite simply, securing the right leadership talent is critical for business success.
The most effective way to secure talent depends on the type of role to be filled. Learn how to choose the right recruitment partner for your search as we break down the five main recruitment methods and when you should use them.
Recruitment Partner Categories
Job Board Services
These can work well for entry-level to middle management roles, especially when there is an abundance of qualified candidates. The availability of talent is important, as job boards only capture those actively seeking a new job.
In-House Recruitment
In-house recruitment also functions best when filling roles up to middle management. For senior executive roles, confidentiality becomes a significant concern. Candidates may hesitate to speak openly about a potential new role when connecting directly with representatives of a competing company. This is just one situation in which the third-party role offered by an executive search consultant provides value. It is also worth noting that each year, about two-thirds of jobs are filled by passive candidates – individuals recruited into the role by a personal outreach.
Technology-Enabled Research and Sourcing Firms
Tech-enabled research and sourcing firms such as IQTalent, a Caldwell business, help expand the reach of in-house recruiters. The on-demand model, with hourly billing, is designed to augment the work of in-house recruiters with regard to candidate sourcing, using its database of more than 300 million global professionals. IQTalent also offers candidate assessment systems, as well as a solution to help align diversity and inclusion initiatives with your company’s talent acquisition process.
Contingent Recruiters
Contingent recruiters present specific candidates to a hiring company from within the recruiter’s network of candidates. The same candidate may be presented ot multiple companies simultaneously. The hiring company conducts the evaluation of the candidates. The recruiter is paid only when a placement is made, aligning them with any placement, not necessarily the best one.
Retained Executive Search
Retained executive search differs fundamentally from the other methods. Clients hire the search firm to conduct an exclusive search that is tailor-made to specific client requirements. Consultants leverage their established networks, research capabilities, and industry knowledge to present clients with a selection of high-quality candidates. This greater access to passive candidates and guaranteed placement offers clear advantages when filling senior roles. In their third-party capacity, retained executive search consultants ensure the required confidentiality while smoothing negotiations and buffering both the client and candidates from any contentious issues.
Elite candidates understand this too, which helps explain the higher rate of response from candidates to outreach from retained executive search consultants.
Download our Buyer’s Guide to Executive Search to learn more about decisions points in selecting a search partner and what makes retained executive search worth the investment.
