‘ARE YOU THE RIGHT FIRM FOR ME?’
It is absolutely incumbent on Clients and Candidates to perform their own due diligence when using a search practice for their own purpose.
The Executive Search & Staffing industry is not regulated by any Government body. Thus it becomes even more critical to perform strong research on the reputation, capability, knowledge and experience of any search practice when retaining them to manage a mandate, or represent any candidate. The identification of and relationship with a search firm is a two way street. Just as a search firm should perform rigorous diligence on any candidate, likewise the candidate should invest the time to ensure they are working with the ‘right’ firm that represents their own goals and objectives. Anything else is wasted time and an exercise in negligence and irresponsibility.
We suggest that all companies & candidates ask the following questions of both the firm and consultants working on its behalf.
The 30 Most Important Questions to ask any search consultant:
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How long has the firm in question been in business?
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Are you a retained, contingency or hybrid firm?
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Is the firm a ‘general practice’ or ‘specialty practice‘ firm?
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What type of industry do they operate in?
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How many mandates would they typically be engaged in any given month?
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Do they operate a specialty practice within a particular sector?
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What is the depth & extent of their knowledge in any particular sector?
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What educational and professional credentials do the consultants have in the industry to exercise their craft?
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What experience does the consultant have in their own industry and what firms?
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What experience do the consultants have to practice in their specific area of specialty?
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What geographical areas and markets do they cover and service?
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What type of selection criterion does the firm use to identify and qualify candidates?
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What search process do they use for candidate and clients they represent?
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What meaningful value added service or enhancements does the firm offer to distinguish itself from other firms?
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What associations (professional or industry) does the firm belong to?
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What associations (professional or industry) do the individuals themselves belong to, if any?
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What type of clients do you represent and work with?
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Does the firm have an established, electronic search system for recording, storing and searching relevant candidates?
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What history and prior work experience does the consultant have that earns them the right to practice in their field?
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Is the search/staffing firm involved in or/ a contributor /sponsor to industry events?
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How does the firm engage/conduct its recruitment practices (headhunting, direct recruitment, advertising, referrals, other)?
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Does the firm have an ethics code of conduct policy towards its candidates?
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Is the firm a member in good standing with the associations that it belongs to?
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Does the firm have client & business references that can be conducted at the relevant stage?
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Is the search firm known by leading industry firms in the market(s) they operate in?
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How is the firm regarded by companies, Managers, Director & VP’s in that industry / market?
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Are the firms consultants engaged in/committed to ongoing professional development?
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Does the firm support its consultants with ongoing industry professional development training & courses?
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Is the firm you are researching considered a market leader in the industry, by reputation?
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Does the firm acknowledge all submissions and for relevant, qualified candidates and conduct proper, consistent follow up in response and feedback?