A Top ranked search firm may specialize in matching excellent candidates with high-level positions, such as chief financial officer, hospital chief of staff and manufacturing plant manager. The agency commonly receives an upfront retainer fee from clients instead of only being paid when a recruit has been hired by that client. The best executive search agencies focus intensely on both the needs of the clients and of the potential candidates. To find the best candidates, they must actively recruit qualified individuals who have not applied with the agency and may not even be looking for a different position.
Corporations and other organizations like to use these recruiting agencies even if the retainer fee is substantial. Skilled and knowledgeable representatives in the field seek out qualified candidates, narrow down possibilities, review applications and conduct initial interviews. This saves the clients a significant amount of time, money and effort that are better used in other endeavors. Even if the organization has a talented human resources department, having access to the expertise of a firm like Kaye/Bassman (KBIC) can be extremely beneficial.
Executive search firms not only match clients with employees for permanent positions, but address other organizational needs as well. Some companies need a high-level worker for projects that might last six months, a year or two years, but with no guarantee of becoming a permanent employee. These are contract positions that tend to pay extremely well in return for the relative lack of job security.
Another kind of recruitment that is becoming a strong trend is for interim executives who fill the gap when one upper-level employee leaves and a permanent replacement will probably not be hired for several months or longer. Often, this individual brings much-needed new blood into the organization, allowing for a fresh start after the previous manager or executive has resigned or has been terminated. The company may benefit greatly from the insight of an outsider who has the best interests of this organization in mind and is not bound to previous tradition. Recruiting firms help their clients find the right people for this kind of strategy. Everyone concerned can achieve remarkable value this way.