Getting Familiar With The Different Aspects Of Retained Executive Search

Most business organizations in China today seek the help and support of executive search professionals for attracting and retaining top talent. In this context, businesses are often advised to hire the services of a retained executive search firm in China. While it is a common perception that hiring such firms is sure to offer better results, most organizations are unaware of the exact reasons for the same. Hence, it becomes essential for organizations to get familiar with the different aspects of retained executive search.

What Does Retained Executive Search Mean?

A retained executive search firm is a specialized HR consultancy firm that works with a client organization in an advisory capacity. This means that such firms are not hired just for specific hiring needs but work consistently with their client organizations to identify, assess and select the best candidates to fill various available and prospective job vacancies in the most satisfactory manner. These firms operate exclusively on a client-centered business model and hence handle only a limited number of recruitment assignments and that too one at a time. This enables them to handle the various aspects of the recruitment process in the most effective and professional manner.

Cost Of Hiring Such Firms

The retained executive search firms charge a consultation fee that matches the level of recruitment advisory services being offered by them. This means that the firms offering services of executive search and recruitment are likely to cost lesser than those offering services of board-advisory in China. That is why business organizations hire the services of such firms mostly for the recruitment of senior-level executives and board directors. The assignments handled by these firms are mostly for positions where finding the right candidates is extremely and persuading them to make the career move is even harder. Irrespective of the cost of hiring retained search firms, business organizations can benefit greatly from their commitment to building long-term relationships based on trust.

How Retained Search Firms Work?

The retained executive search firms conduct a thorough analysis of their client’s industry, business strategy, and their unique needs. They then use a highly sophisticated set of methodologies, including a competency-based interviewing and 360 degrees referencing to find the most suitable candidates that fit well with the client’s culture. These firms choose candidates from candidates and experience levels and also help their clients to gain access to candidates who might not be actively seeking a new job option. Whether it is the life science executive search firm in China or retained search firms operating in any other specific niche, their primary objective is to ensure the long-term commitment and a positive impact of the candidate on their client organization. For most firms, their success is defined by their ability to hire lasting and successful executives as per the specific needs of their clients and the associated roles and responsibilities.