Frequently Asked Questions
What is retained executive search?
Retained executive search is a service whereby a client engages a firm to identify and select relevant individuals to be hired for a particular position for which the firm is paid a retainer fee.
How does retained executive search differ from other forms of recruitment?
The main difference is that in other forms of recruitment the candidates are applicants. A searched candidate is selected by a process of targeted identification, whether he or she is an active job-seeker or not.
What does ‘retained’ mean ?
Like other management consultants, executive search firms work in partnership with their clients. A client pays a regular retainer fee for the consultant’s services (typically, the fee will be billed in three or four stages over the course of the assignment) and the client uses that firm exclusively for that assignment.
How does a search firm identify potential candidates?
Executive search firms find candidates by a process of systematic analysis, combined with thorough networking. Which companies are doing well in the market? Who is responsible for the success of those companies? What do their peers in the industry say about them? The answers to these questions lead us to the pool of potential candidates.
We then contact the potential candidates and investigate their interest in the position. We meet those who are interested and evaluate their qualifications in more depth. The secret is to have a very clear understanding of the job and the company, and the challenges in the job.
Is there a guarantee that a search will lead to an appointment?
From time to time there is a job which is just not possible to fill. There can be many reasons for this, so there can never be an absolute guarantee of success.
How long does it take before a client begins to meet candidates?
A client should normally expect to see candidates within 30-45 days in a single country search. Multi-country or global searches can take a little longer because of the logistics.
Do executive search firms also represent job-seekers?
We never represent job-seekers. Many of us will from time to time give informal career advice to job-seekers, but we act only for the organisations which retain us.
How should clients select a search firm?
By asking peers; by confirming that the firm is a member of the AESC; by asking a lot of questions about capacity and capability, etc and by taking references from the search firm’s clients.
Most importantly, clients should satisfy themselves that they are happy to let this firm represent them in the market and to the organisation’s future leaders and managers.
What is the AESC and why is it important that Penrhyn International belongs to it?
The AESC is the Association of Executive Search Consultants.
Since its foundation in 1979 Penrhyn International has been, and continues to be, represented in the leadership of the Association. Members of Penrhyn International have been Chairmen of the Association, and Chairmen and Members of many of its Committees. Three members of Penrhyn International have been awarded the Gardner Heidrick Award for distinguished contribution to the executive search profession, a reflection of the importance which our partnership gives to the support and observance of the highest standards of professional practice.
The AESC provides information and services which can be helpful to users of search services and to executives seeking employment. Click on the symbol below to reach the Association’s web-site.
