Media Updates

Why Companies Hire Search Firms

 

“Companies retain executive search firms simply because the ‘cost’ of getting a hiring solution wrong outweighs the ‘price’ and upfront investment required by a premium firm”, said Simon Kent, principal at Wilton & Bain NYC. “As we move up the organizational chart, the negative consequences of a poor or delayed hire become exponentially greater. For this reason, a firm with an established track-record will usually be the preferred solution for the most critical and senior hiring requirements. Retainer fees are integral to the operating models of these firms which often employ large research teams.”

“Researchers conduct industry analysis, candidate identification and referencing which are essential towards ensuring a great hire,” Mr. Kent said. “Since researchers are not a front office resource, they increase operational running costs for a search firm. Retainers and staggered fee installments improve forecasting and cash-flow, making it possible to employ the scale and expertise of team needed to get a senior hiring solution right; on time, every time.”

Read the full article here

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