When Is It Worth The Price To Engage A Retained Executive Search Firm In China?

Does hiring often lead to disappointment? Most typical hiring practices ignore more information than they gather thus leaving the hiring decisions up to chance. This “insight gap” is what makes a retained executive search firm in China worth their fee. 

When the hiring process is not in the hands of an expert, you risk overlooking important information thus making a mistake of losing out an opportunity to hire the right candidate. Experts develop frameworks to gather the necessary information; they know what are the right questions to ask, where to look for the answers, and how to evaluate particular situation.   

But everything aside, before hiring one of the life science executive search firms in China, it is important to understand the ROI which you can expect. A good starting point is to study the process followed by an expert and understanding how it differs from a do-it-yourself approach. 

There are five steps in the hiring process which you need to know:

Step One - Why Are You Hiring And Is It The Right Time?

This is the very beginning of the hiring process. The answer to what has triggered it in the first place can help you understand the answers to following questions:

• Is the new hiring the result of a process problem or a people problem?

• If the work is organized a bit differently, could the current staff handle the work?

• If the staff had the right workflow, tools, or training, could the outcome be better?

• If someone quit the job, why did they leave?

• If someone was fired, was it because of a mistake in the hiring process, or a problem in the training or management?

Some of these questions are uncomfortable. But answering them with your board advisory in China will help you understand how to do things differently this time thereby increasing the retention rate in the future. 

Step Two – Who Do You Want To Hire?

This is usually from where a typical hiring process starts that is understanding the job role and drawing the proper requirements for the potential candidates. Understanding the company culture here is another important aspect of step two. 

Step Three - Where Do You Want To Look For Candidates? 

A job description is circulated internally and externally at this stage. Having a retained firm gives you an access to both active and passive candidates thus widening the chances of the right hire. 

Step Four - Which Candidate Should I Interview?

Next comes the screening process. A retained firm with the help of its exhaustive database can get you just the right candidates who will be a good fit for the company thus minimizing your overall efforts in the process. 

Step Five  - Who Should I Hire?

During the interview, managers usually take a gut decision about cultural fit. A retained firm, on the other hand, do thorough background checks and utilizes its extensive network to understand whether a particular candidate will be good for the company or not.