Why Retained Search (Part 6)
Reason #6 – Reason to Prefer Retained Search over Contingent Search – By David Kant
There are times where for strategic purposes a company does not want its competitors knowing about a new key position they’re trying to fill or turnover they are dealing with. However, the biggest reason companies conduct confidential searches is because they seek to replace an executive currently in the position, and do not wish for the executive to find out about this until his replacement is identified.
Posting an ad is not workable as the incumbent is likely to stumble upon it and recognize it as his job and resign.
Contingent firms are not a good solution either as it is more of a shotgun approach, where recruiters from multiple firms will blast the opportunity out to the industry and see who bites. This is not a discreet approach, to say the least, and word will very probably get back to the executive currently in the role.
A retained firm is skilled in attracting candidates without disclosing the name of the client they are representing until first thoroughly vetting them and having them sign an NDA. They also can provide their office as a meeting place for candidate interviews so the current executive won’t accidentally walk in on an interview for his job.
For example, I had a client who was looking for a Vice President of Business Development and had plans to move the employee currently in the role to another division but did not want the employee getting word of this until we found a suitable replacement. When contacting prospective candidates, I described the role in generalities so as not to provide any information that one could guess who my client was, pre-qualified the candidate to ensure they were a fit and were genuinely interested in the position. Only then they signed an NDA and I disclosed who my client was. The client then interviewed the top shortlist of candidates in our office, hired their top choice, and then informed the incumbent of the internal changes. All went according to plan.
While there are no guarantees word won’t get back to the employee, certainly the most secure path to follow is with a retained search firm.
Thanks for listening and don’t miss the 7th and final reason to go with a retained search partner in my next video.
What do we specialize in?
Dynamic Search Consulting (DSC) is a boutique executive search firm operating nationally from its offices in the Silicon Valley, in San Jose, CA. We specialize in headhunting executives using the retained search model. Our processes and methods enable us to find top talent in less time than it typically takes an executive search firm to accomplish these missions.
We offer a complimentary initial consultation during which we analyze your needs, and clarify the profile you are looking to hire.