In this second installment of a six part series, Tom Vovers explains a little about the different categories of search available and gives buyers some tips on how to choose the best type of executive search in Vietnam for their particular business circumstance.
"Often the best solution to a management problem is the right person” - Edwin Booz
Take out a pen and pencil and list down the ways you expect using a search firm will add value to your business. Like any professional service you will be paying a fee. Be clear about what you are buying.
Have you got your list? Ok, your check and see which of your items fall into these categories;
- Administration ease;
- Access to a professional mechanism for decision making;
- Access to labour market knowledge;
Recruitment Process Outsourcing
With this service you are effectively buying administrative ease. Your service provider will carry out all the administrative steps necessary to fulfill your own recruitment process. Good companies will help you develop this process. For example, HR2B recently hired a sales team of over 10 people for an education company using this service. Our clients were charged a fee on the number of CVs process, the number of interview held, the number of offers made etc.
- Good for lower level daily hiring needs
- Good for project hiring
- Fee for service
With this service you are buying the ability of "matching" between your opportunity and the candidates needs and desires. There is some administration and some market knowledge thrown in. It is called 'contingent' because if there is no match, then no fee is paid. In 2008 HR2B placed over 150 people using this service.
- Good for middle to upper level opportunities
- Hard to find skill sets
- Fee based on success
With this service you are buying market knowledge. Your service provider needs to understand completely the shape of your industry, the people involved and then use their skill of matching to suggest to you people who can deliver results for your company. At HR2B we will typically do this service for C"X"O searches (CEO, CFO, CIO, etc.)
- Good for higher level opportunities
- Requires a lot of research upfront
- Fee paid upfront and on success