I’m a student doing a
research paper on Executive Recruitment, and the pros of using
recruitment firms. I was wondering if you could answer three quick questions.
1) Sometimes it can be more expensive to hire a recruitment firm
instead of using internal recruitment or HR, but in your estimation,
what are the hidden costs associated with a bad executive hire?
The hidden costs are potentially enormous as I am sure your research
is showing. There are many examples of hiring decisions that could
have been improved with the right help from a professional executive
search consulting firm. Many companies don’t know what they don’t
know about the search and hiring process and that is where the trouble can start.
We work hard to help clients understand the value of the search process through our case
examples, blog and other info on our website. A real measurable is
the value that a right hire creates. Increases in revenue, # of new
clients or improvement in client satisfaction could be tracked as well as cost
reductions. Clearly though when the right hired candidate comes to a new
position things start happening for the better.
We like to detail the Key Performance Indicators (expected hired candidate deliverables by when) right in the position description. Candidates have commented that this
information is unique for them and very helpful. Once the candidate is hired track candidate performance against expectations—-some of our
case studies –right on our website www.kulpercompany.com
2) On average, how many job openings would you say a corporate
recruiter works on at one time?
A corporate recruiter ( working for the hiring company) often works on many—many job openings at once. This can be a very difficult task since there are so many moving parts involved with each hire. The corporate recruiter is able to leverage his/er efforts by using outside search consultants and employment agents.
I would say that it is tough for any search consultant to handle more than 3 or 4 search assignments at once; beyond that, managing the assignment
load becomes pretty difficult and puts the outcome at risk.
Some large search firms, or very busy ones, are criticized for their lack of
quality work when they split the work load up among a large staff—because the right hand sometimes is out of touch with what the left hand is doing! I think you get what I
mean….The more focused and involved the lead search consultant is
with each step of the search process the more likely the outcome will
be what the client needs and wants.
3) Do you feel that corporations have increased or decreased spending
on recruitment in the past few years? Do you think spending will
increase or decrease in the coming year?
Decreased spending 2008-2010……..Spending on recruitment is increasing since Q4
2010. We expect to be very busy through the balance of 2011 and into 2012.
I hope you find these responses interesting and helpful. if you are considering use of executive search consulting services.
All the best,
Keith D Kulper
KULPER & COMPANY, LLC