FAQ
RaaS RPO’s average executive search process takes 40
days from briefing to the signing of the contract
Executive search firms differ from traditional recruitment agencies due to their ‘candidate-driven’ framework. Recruitment agencies tend to work with people and candidates actively looking for new positions and therefore are likely to apply for roles on job boards and company career pages. They will then qualify and sort these candidates before introducing the profiles to their clients. Executive search firms will conduct searches for passive candidates who are not necessarily looking for new opportunities but are potentially the best fit for the role. Executive search firms are not reliant on candidates looking for a new move but instead more focused on finding the best people. Executive search firms will regularly qualify the candidate on some level before introducing them to the opportunity. If a candidate is interested in the opportunity and meets the requirements, they will be introduced to the client.
Most executive search firms, including RaaS RPO, will offer a more comprehensive service, including supporting and consulting on the interview process and package negotiations.
An executive search firm, also nown as an executive recruitment firm or head-hunter, is a specialised type of recruiting agency that focuses on identifying and recruiting top-level or executive-level candidates for senior positions within organisations. These firms offer services to help companies find and hire the most qualified and experienced professionals for leadership roles. Here are some key aspects of what executive search firms do:
Talent Identification: Executive search firms excel in identifying and researching potential candidates with the skills, experience, and qualifications required for executive or senior management roles. They often maintain extensive networks and databases of high-level professionals.
Search Strategy: These firms work closely with their clients to develop a comprehensive search strategy. This includes defining the specific requirements for the position, such as the desired skills, experience, and cultural fit within the organisation.
Market Research: Executive search firms conduct in-depth market research to understand the competitive landscape and identify potential candidates within the client’s industry and related fields.
Candidate Assessment: They evaluate potential candidates through interviews, reference checks, and other assessment methods. This helps ensure that the candidates are qualified on paper and an excellent cultural fit for the client’s organisation.
Confidentiality: Executive search firms often operate under strict confidentiality agreements, especially when searching for sensitive or high-profile positions. This allows candidates to explore new opportunities discreetly.
Negotiation and Offer Facilitation: These firms can play a crucial role in the negotiation process between the client and the chosen candidate. They may assist in structuring compensation packages and other employment terms.
Long-Term Relationship: While the primary focus is on the current executive search, many firms aim to build long-term relationships with their clients. They seek to understand the client’s talent needs and assist in succession planning.
Global Reach: Some executive search firms have a global presence, making it easier for multinational companies to find candidates for positions in various locations worldwide.
Industry Specialisation: Many executive search firms specialise in particular industries or sectors, which allows them to have a deep understanding of the unique challenges and requirements of those industries.
Retained vs. Contingency Searches: Executive search firms may work on a retained or contingency basis. Retained searches involve an exclusive and often more comprehensive engagement, while contingency searches are non-exclusive and may be less in-depth.
Overall, executive search firms aim to save their clients time and resources by providing a focused, efficient and expert approach to finding the right leaders for their organisations. The fees for these services are typically higher than those of traditional recruiting agencies, reflecting the specialised expertise and tailored approach to executive-level hiring.
There are no restrictions or limits regarding industries executive search firms specialise in. Generalist search firms will work with all sectors, whereas specialist search firms will focus on specific ones.
RaaSRPO International focus on supporting SaaS and Fintech sectors.
Talk to at least three firms to find the right executive search firm. Ask for recommendations and do your research online. Consider their areas of specialisation, success record and culture.
Create a list of criteria you consider important and prepare some questions so you can qualify them. Then, ask them to talk you through their process and ask for relevant case studies and testimonials. Executive search is an investment, and you should choose an executive search firm that will invest time into getting to know you and your company – acting as an extension of your team, ensuring you get the right hires onboard.
The cost of an executive search varies considerably from 20% of the base salary to 35%-40% of the total package. Companies can expect to pay around 25% -30 % of the role’s first year’s income.
The cost will depend on the type of executive search agreement (contingent, retained, RPO), the complexity of the role and seniority
RaaS RPO’s search process is as follows:
Initial contact and face-to-face meeting
Assign a specialist client manager to your recruitment project who takes a detailed brief of your requirements.
Identify and agree on target companies – or sectors – to focus our search efforts on
Search for suitable candidates targeting 50 + companies where potential candidates are currently working.
Identify 50 to 70 people, approach and talk to them by phone and present your opportunity to assess their competence and interest. We build relationships with the people we speak to and align their needs and priorities with the roles we are working on, ensuring what’s important to them is important to you.
Research and qualify the background of interested candidates taking initial references before continuing with more in-depth phone interviews
Reduce the list to 10 to 20 people, inviting them for further face-to-face meetings where each is assessed for their suitability and told who the client is
Finally, produce a shortlist of 3 to 6 candidates – all highly capable and interested – presenting their details to you so you can conduct your final interviews.
The time each executive search take varies depending on the firm you choose to work with and the difficulty of the search itself. Typically, an executive search takes between 6 and 12 weeks from the initial briefing to the signing of the contract.
RaaSRPO’s average executive search process takes 40 days from briefing to the signing of the contract.
Executive search firms find candidates through various methods, including personal and professional networks, existing internal databases and public databases such as LinkedIn. Other methods include networking at events and recommendations.
Using an executive search firm offers several benefits for organisations seeking to fill senior-level and executive positions:
1. Access to a Specialised Talent Pool: Executive search firms have extensive networks and industry-specific knowledge, allowing them to tap into a vast talent pool of qualified candidates who may not be actively seeking new opportunities but are open to the right offer.
2. Expertise in Candidate Assessment: These firms have experience and expertise in evaluating candidates for executive roles. They thoroughly screen and assess candidates to ensure they meet the client’s specific requirements, both in terms of qualifications and cultural fit.
3. Time and Resource Savings: Executive searches can be time-consuming and resource-intensive. By outsourcing the search process to a professional firm, the client organisation can save valuable time and resources that can be redirected toward other strategic initiatives.
4. Confidentiality: Executive search firms maintain strict confidentiality throughout the hiring process, which can be crucial when dealing with sensitive executive-level transitions or situations.