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Consulting FAQs (5) Search FAQs (5)

Questions - Search FAQs

Answers

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 Selection's fees for searches?
For a retained search, we charge a flat fee based on the position's base compensation range. This flat fee not only ensures that our clients know exactly what they will be paying, but it allows us to credibly conduct compensation negotiations. 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. [Top of Page]

Retained Executive Search versus Contingency Recruiting:
When companies seek to hire management and professional talent from outside their organization, they have several options. They can decide to manage the process themselves, using advertising, the Internet, and/or a contracted researcher to identify potential candidates; use contingency recruiters; or use a retained executive search consultant. [Top of Page]

How Does One Choose to Use Internal or External Resource?
Using the first option, 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, and then screens responses, interviews candidates and selects 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. [Top of Page]

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. A retained search consultant, on the other hand, is paid a consulting fee to conduct a search that usually results in a hiring but not always. [Top of Page]