Traditionally Search, or Head Hunting, is used for very senior roles with base salaries starting at US $250,000 and upwards.
Search is the most targeted approach to recruitment and should if undertaken properly produce the lowest ratios in terms of number of applicants to successful placements made. However it is the slowest form of recruitment, taking a minimum of 10-12 weeks on average, and is the most expensive, given that the salaries are inflated in the first place and agencies are less willing to negotiate their fees that typically range between 25-35% of first years gross remuneration. Fees are generally payable in 3 installments:
1) 33% as a retainer up front on acceptance of the assignment
2) 33% on provision of a short list of candidates to you
3) 33%, or the balance once a successful placement has been made.
There is nothing to stop you running Contingent recruitment in parallel to Selection.
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If your vacancy is paying inexcess US $150,000 per annum or the role is more urgent, it is time to consider retained search and selection, perhaps coupled with advertising. The more senior the role becomes the more appropriate selection is because it becomes increasingly harder to source specific skill sets. Contingent methods can soak up time and energy in sifting through...
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