In today’s world, it is a candidate driven market. Candidates are getting called repeatedly by recruiters and quite a large amount of them end up with multiple offers to choose from in the end. As a company searching for talent, the decision to hire a firm to help can be a daunting one.
The Solo Recruiter. In a robust market, like the current one, recruiting is good business. People who have little to no experience see an opportunity to cash in, hang out a shingle, and often offer slashed rates to compete with the established firms. While saving money on an executive search may seem attractive to your HR team, the old adage “you get what you pay for” typically rings true here. The cost of a bad hire far exceeds the difference in bargain basement search fees and the
The Big Guys. There are some very large executive search companies that service multiple industries. Their business model is usually more segmented, with one person courting client business, and once the contract is signed, the client is handed off to an account manager. A search team is made up of other individuals, usually with a researcher, someone to recruit candidates, and someone who ultimately presents resumes to the client. This assembly line approach might not be the best way for all companies to fill critical roles as it can be perceived as impersonal and disconnected to the candidates.
The Niched Firms. Then you have your niche, boutique firms that focus specifically on specific industries, such as our own firm, Joseph Chris Partners. Our niche is real estate development and construction. There are multiple benefits to working with a firm that specializes in the field in which you work. In most cases, niched firms have been in their chosen business for a considerable amount of time. In our firm’s case, we have over 41 years of speaking the same language as our clients, developing relationships with professionals over the expanses of their careers, keeping current on industry news, attending conferences, and really understanding what our industry is about. Our teams our small, and clients always get a personalized approach to their search. For more clients needing a professional with industry-specific experience, it makes sense to work with an Executive Search Firm that already has the relationships with the people they are wanting to hire, one that “speaks their language” and knows who’s who in their industry sector already.
Am I promoting my own firm? Sure I am! But clients and candidates I’ve worked with over my 16 years in the industry will attest that their partnership with my company and with me has been a very successful one.