Four critical factors when choosing a recruiting firm!

Selecting the right recruiting firm is critical to your success. If you hire the wrong candidate, your company will suffer. This post will address the four most critical factors in selecting a recruiting firm.

1. Industry Expertise

The firm you select should specialize in your industry. If not, they will struggle to understand your needs and will not have the appropriate network to identify candidates. Large retained firms do a great job of convincing hiring managers of their capability but often lack the industry knowledge required to find candidates.

2. Successful Track Record

Make sure the firm you choose has demonstrated success with a similar search. Just as you should check references before you hire a candidate, you should also check references on the recruiting firm you are considering. Make sure you have an opportunity to meet or talk to the recruiters working on your search. Some of the larger retained firms will use researchers to find candidates, and the person that sold you on the service may have little involvement

3. Sense of Urgency

Smaller boutique firms that are independently owned typically have a higher sense of urgency than large retained firms. One of my first senior-level searches (CCO) came to me via a CEO who had used large retained firms. He told me that he chose my firm due to my sense of urgency and desire to recruit for him. He wanted a recruiter that was hungry and appreciated the assignment. Our firm was able to fill his search within 45 days! Prominent corporate retained recruiters are typically not hungry and, as a result, do not have a sense of urgency. (The difference between small and large firms is that large firms typically pay their recruiters a base salary. Small firm recruiters are usually commissioned only and are more motivated to complete the search quickly.)

4. Retained vs. Contingency Search

Some hiring managers associate retaining search with quality. Be careful! I have spoken to numerous senior executives that have lost money on retained searches or have been unhappy with the time it took to find candidates. Ensure that if you engage in a retained search, you have protection in the event the recruiting firm does not deliver viable candidates promptly. Once you pay the first payment, some firms relax and slow the recruiting process. Please read this article for more information on how to avoid getting burned on a retained search.