What are the various types of best executive search?

Executive search can be described as a service provider in which possible candidates for senior and executive positions such as CEO, president, and customer or paying company vice president are recruited. They serve as a bridge between prospective candidates and the business of the client. Companies use these recruitment firms to obtain access through their network and personal connections in the industry to a high variety of potential candidates. Various types of best executive search are:-

1. Retained Search

In the retained search process, to conduct the searching service, the businesses have to pay the executive search firm in advance. The retained quest is comparatively costly since 50 percent of the annual compensation must be charged upfront by the external corporation. Retained searchers work closely and take time to look for the best applicant for the client business. This payment is for the quest consultant's time and effort. From startup until the applicant is employed in the business, they perform the overall recruitment process. If you deal with retained searchers, you are likely to receive a very thorough briefing, interviews, and possible bid. At last, they shortlist 3-4 candidates and the company has to just pick the one among them according to their need. Mostly this method is used when they want to search for high-level jobs and positions and when they don’t have any less expensive method available.

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2. Contingency Search

Contingency search is the other type of best executive search in which businesses do not have to pay anything upfront. After the submitted applicant starts working in the client business, contingency searchers obtain cash. They do not conduct thorough searches and attempt to shortlist as many applicants as they can in order to quickly finish the project. In this scenario, if a contingency searcher encounters any difficulties or obstacles, they will immediately jump to the next vacancy or client where they think they will win quickly and easily. If they choose to hire applicants for low to mid-level jobs or roles, this approach is often used.

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