There are numerous lists available online, but how can you tell which are the best? This article provides an overview of the factors to consider when choosing the best Executive Search Firm. For example, CEOworld claims to have a list of the top 100 executive search firms, but their list seems to be a duplicate of the Forbes/Statistica list. It cites the same search firms in the same order, and it doesn't explain how they came up with this list.
When choosing a firm, make sure to find out the source and contact information. If a firm has no source, it's unlikely they are neutral. It is best to stick with a firm that has an objective source and a track record of success. If a firm sells its own product or service, be sure to ask why it has been ranked higher than others. Also, look for a firm that has a good reputation for working with nonprofits.
For healthcare companies, it can be difficult to find the right candidate for the position. The job is demanding and requires specific knowledge. Executive search firms have extensive networks of candidates and substantial contacts in the industry. A wrong placement can cost an organization a great deal. And, if you're not sure which firm is the best, check the AESC list of members. The best retained executive search firms have an AESC-accredited code of conduct that is mandatory for all members.
According to a study published by Forbes, the largest executive recruiting firms are Korn Ferry, Heidrick & Struggles, Spencer Stuart, Russell Reynolds Associates, and Egon Zehnder. The firms were ranked by revenues in 2020, and they were reported to have 300+ consultants in 2020. But these companies aren't necessarily the best. You need to get to know them. By doing so, you can maximize your chances of getting hired.
Some executives prefer an agency that specializes in one industry or job skill. Larger firms generally cover many industries. Smaller firms focus on one industry, such as banking or financial services. Boutique firms specialize in a single industry, but they can still work with larger firms for positions in niche industries. And while some candidates are more comfortable with a firm that is narrowly focused, it's important to know what kind of agency you'll be working with.
Spencer Stuart is a global leader in executive search, with offices in 31 countries. Their consultants use a systematic process to identify exceptional leaders. And their website accepts resumes from candidates and makes them available to experienced headhunters. The company doesn't guarantee the confidentiality of candidate information, however. However, many of their clients prefer this firm over competitors. You may want to avoid Spencer Stuart if you're seeking a traditional executive search firm.
Pricing varies by the type of services they offer. Retained search firms charge a retainer fee, which allows them to spend more time on the company and the candidate. They focus more time on vetting and consulting with clients, while contingency search firms only charge if they make a placement. Of course, this may not be the best choice if you're searching for a position with a small company.
