"Working Effectively with a Search Firm" (Part Two)

by Mitch Vigeveno

Frequent Communication & Prompt Action

• After information on a candidate has been presented, be responsive to the search consultant by getting back to him promptly about when and how you would like to interview the candidate. Be clear whether you will set up the interview appointment or whether you would like the recruiting firm to do that. In most cases, it is more efficient for the hiring executive to have his assistant call the candidate to arrange the interview appointment. When an appointment has been confirmed, the assistant should also notify the search firm.  If the interview is at the Home Office with multiple meetings, an interview agenda should also be furnished to the search firm.  Once the interview has been completed, contact the recruiter promptly and give him some indication about how it went and what the next step in the process might be. This is helpful both as information on the specific candidate and as confirmation for the recruiting firm that they have presented the right type of candidate.
• After all first-choice candidates have been interviewed, tested or otherwise evaluated, use the recruiting firm to confirm your decision about the best candidate. The search firm represents a good third party sounding board for making the final choice. If you want advice about what kind of an offer to make, often the search firm can give you a good feel as to what might be acceptable to the candidate. In general, you do not want to make an offer to a candidate unless you are sure he will accept it. And you do not want to make an offer in writing to a candidate until he has accepted the verbal offer.  This just makes good negotiating sense because the candidate cannot then use that written offer as a way to get a counteroffer from his existing employer or another company he is considering. After the offer has been accepted verbally, confirm the offer promptly to both the candidate and the search firm. The search firm can then reinforce the candidate’s “wise decision” and help to prevent or overcome any counteroffers that may be made by the his current employer.

A search will be effective if all parties treat each other respectfully and courteously, communicate frequently and promptly, and define their responsibilities and expectations in writing. Ready, get set, recruit! And good luck!

 

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About the author: Mitch Vigeveno is the founder of Turning Point, Inc., a privately held consulting and executive search firm that was founded in 1994 to provide quality, independent recruiting, executive search and consulting services to the financial services industry. Prior to founding Turning Point, Inc. he was vice president of branch development for a major national independent broker-dealer. Mitch is frequently interviewed and quoted in a variety of industry periodicals such as Registered Representative, On Wall Street and Investment Advisor Magazine, and Investment News. Mitch can be reached at 727-725-8876 or at mitch@tpisearch.com. Company website: www.tpisearch.com.