1.Why should I choose Executive Search over other recruitment processes?
Executive Search is a diagnostic, consultative and comprehensive approach in partnership with the client to identify and bring on board for the most suitable talent for a given role, from within a given market space. It involves identification, assessment and verification of candidates by the search firm in line with the understanding of the role and the company culture of the client in question. This method is proactive & reaches out to several passive candidates who are actively looking for a change. Search is a preferred process of recruitment globally, for hiring talent across top senior & critical to business positions.
Selection or “contingent search” involves spending bulk of the effort on finding potential candidates and getting them across the table as quickly as possible. It involves a less structured process vis-à-vis executive search with a broad level understanding of job description and the client. This method is a reactive method & typically one reaches out to only those candidates who are actively seeking a change, whose resumes would be available on portals, job boards & databases.
2.There are so many reputed search firms in the market why should we choose Stellar?
We at Stellar are committed to the long term interests of our clients & candidates and we completely accept accountability for our recommendations. It does not consider its responsibility to be over once the candidate has joined an organization. This is reflected in its value system, strategic approach, unique search processes, accountability agreement and research-based recommendations on how to achieve peak performance through human assets.
3.What will I be expected to pay for Executive Search services?
An Exclusive Search contract warrants extensive commitment of time and resources on our part to the search. Search firms generally charge anywhere between 30-40% of the Cost to Company of a role. We at Stellar charge 20% for the same role.
4.Why should I pay such a large fee for Executive Search, I pay all my vendors 12.5%?
At Stellar, we believe that a search process is a critical element of an organizations corporate strategy. We perceive our role as a strategic partner providing our clients with market intelligence, candidate insight and judgments to foster accurate and focuses decision-making. We work within well specified time frames and budgeted costs. Always setting realistic timelines at the beginning of the search after understanding its complexity. This comprise a customized search strategy, 360 degree reference check, compensation benchmark report and more. At Stellar we do not encourage short cuts, but provide the client with a complete process perspective from day one allowing them to gear interim management and expectations accordingly. A six- month replacement guarantee accompanies each search.
5.What is Exclusive Search?
Exclusive Search refers to the contract between the search firm and the client, in which the search firm’s deliverables are clearly laid out and the client assures the search firm not to use the services of any other firm regarding the deliverables agreed with the search firm as per terms of the contract.
6.Why are Executive Search contracts exclusive?
There are number of reasons why Executive Searches are exclusive:
Exclusivity is required to ensure that HR department or other recruiting firms do not compete against each other and the hiring process does not become a "horse race" to see who can send you the most resumes in the shortest amount of time, thereby impairing the quality of candidates.
- Exclusivity allows the search firm to design a customized search process suited to the requirements of the incumbent position and client organization.
- Exclusivity ensures search firm’s commitment to spend the required time and effort warranted by the criticality of the position.
7.Why does Stellar Search require exclusivity in its search contracts?
Exclusivity is a standard clause in all our search contracts because:
- We feel that it is in the interest of the client to engage a single search firm for a particular position to ensure that there is a single uniform message going out to the candidates and the external environment, thereby ensuring greater alignment with the objective of the hire.
- Exclusivity also eliminates the remote possibility of the same candidate being approached by multiple search firms leading to a high headed opinion being formed by such candidate.
- Executive Search requires designing customized search strategy for every single position. Multiple search strategies would lead to wrong candidates being presented, leading to confusion and increased chances of mishire.