How long does it take to complete a typical search for top talent?
A search can take as little as four to six weeks, though we typically complete searches within three months. Searches can take longer if the criteria for the position are particularly narrow, the client's interview process is unusually lengthy, or business conditions change the requirements for the position at some point during the search process. [Top of Page]

What are CFO Selections' fees for searches?

For a retained search, our fee is based on the first year base salary of the selected candidate.  CFOS does not include any other compensation in the final fee calculation.  From time to time when our client is unsure of the appropriate salary range, we offer a flat fee based on projected salary range and difficulty of the search.  The first third of the search fee is paid at the outset, the second third at candidate presentation, and the final payment when a candidate accepts the offer.

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How Does One Choose to Use Internal or External Resources When Hiring?

When a search is handled internally, the hiring executive or a human-resources executive makes an effort to find qualified applicants, typically by advertising the position in the print media or on the Internet.  They then screen responses, interview candidates, and select the person to be hired. The advantage here is that the company retains full control of the process.

The disadvantages are that many qualified candidates (including some of those most qualified) may not see or respond to an ad or post their resumes on the Internet; many unqualified candidates must be evaluated in order to discover those who are qualified; and, once qualified candidates have been identified, hiring authorities face complex, time-consuming, and sensitive issues of negotiation and reference-checking without the benefit of a third-party professional.

Therefore, many organizations prefer to use independent recruiters.

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What is the difference between Retained Executive Search and Contingency Recruiting?

The contingency search process is geared to identifying qualified candidates—but not necessarily the most qualified candidates that could be found if significant research and in-depth interviewing were to be applied to the hiring organization's particular need.

Contingency recruiting is appropriate in the following situations:

• When the salary level of the position is less than $100,000
• When many people are likely to be qualified for the position
• When multiple vacancies with the same job description are being filled
• When the hiring organization wants to take more responsibility for screening, interviewing, and negotiating with candidates

Retained executive search consulting is appropriate when the salary level of the position is above $100,000 and when it is critical to hire not just any qualified person, but the most qualified person available. The hiring organization will also want:

• A recruiter who will make a dedicated effort on its behalf to filling the position, and who will take into account nuances of the hiring organization's culture and other critical issues related to the job vacancy.
• An independent third party to thoroughly screen candidates before finalists are presented
• Evaluation of internal candidates against an external shortlist
• A go-between to help persuade an executive to leave a desirable position for a better opportunity, and to help negotiate the terms of the move
• A high degree of confidentiality in the recruitment process

Neither contingency nor retained executive search consultants accept fees from individuals for the purpose of helping them find a job. However, contingency firms are motivated to "market" highly attractive candidates to several potential employers at once. Retained consultants are not motivated to sell candidates in the same way; they are being paid for the process of selecting the best candidate, so can be more objective about whether a particular individual is the right choice.

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How Do Fees Differ Between Contingency and Retained Search?

On the surface, it appears to be simply an issue of how the recruiter gets paid. A contingency recruiter earns a fee only when the organization hires someone. The contingency recruiter has no assurance of being paid at all and therefore cannot afford to invest a great deal of time working on any particular engagement.  Contingency recruiters typically work with a large number of openings and multiple contingency firms compete against each other on the same engagements.

A retained search consultant, on the other hand, is paid a consulting fee to conduct a search and is typically working on the search exclusively.  When a company retains an executive search firm to fill a particular job, it is paying for the process of conducting a search which is far more complex than a contingency search.

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