Understanding Retained Searches
TAL Global CEO Johnathan Tal and Enteles Search Managing Partner and Co-Founder Chris Meager discuss the unique challenges posed to HR professionals and other management personnel in searching for and finding highly qualified security professionals.
Among the key points about Retained Searches discussed in this video:
What is a retained search?
A retained search is when the risk management firm, known as the recruiter, is paid a set fee to find candidates worthy of the corporate security officer position. The recruiter is hired on an exclusive basis to fill the role in an organization.
How is the recruiter paid?
Typically, the recruiter is paid a set percentage of the candidate’s first-year annual salary.
For instance, one-third of the fee is paid at the start of the retained search; another third when the candidates for the position are presented to the HR department; and the last third when one of the candidates is hired.
What type of people will be considered for the position?
Often the candidates are retired police officers or FBI people. Many times, they have held security positions with the military. However, someone experienced in retained searches will have a large database of potential candidates.
While they may have the background and credentials for the job, how do we know the candidates will be the right fit for our company?
One of the first steps an astute recruiter will take is to better understand the client’s “company culture.” This would determine the role educational background, diversity (racial and gender), formal vs. casual personality, and related issues would play in the candidate selection.
How often will we hear from the recruiter?
Retained searchers are very collaborative. The recruiter often checks in with the client as much as every week once the retained search begins. All conversations are confidential.
When will we have some candidates to consider?
Usually, within 30 to 45 days.
When candidate information is provided, will we know why these people were selected?
Yes. Along with information about the candidate, the recruiter will relay their work history, what they have accomplished with other companies, and why the recruiter believes they would be the best, “fit,” and work well for you. In some cases, the recruiter may already know the candidates, allowing them to share their personal experiences with them.
What if we are not comfortable with any of the candidates?
In the case none of the candidates is a good fit, the recruiter keeps looking.
What type of guarantee do we get?
Should the candidate leave the position of their own volition in less than a year, the recruiter will look for a replacement or refund payments. Other arrangements will also be made if the client finds they must terminate the hired corporate security officer.
Finally, how do we decide which recruiter to hire?
What you should look for is experience. Corporate security is a service and just like most services, those companies that last have not only proven their value to their clients, but also earned the respect of their industry. Due diligence is required; but a little time looking for a recruiter can pay dividends when company security and protection are at stake.
Contact information to learn more about retained searches:
TAL Global CEO Johnathan Tal, https://talglobal.com/
Enteles Search Managing Partner and Co-Founder Chris Meager, https://enteles-search.com/
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