Clients are often surprised at how expensive search is. We agree it is an expensive undertaking but a search is not nearly as expensive as the lost opportunity cost from not having a key position filled. Even more expensive than opportunity cost or search fees are the costs associated with making the wrong choice that ultimately results in a termination or suboptimal organizational performance. This occurs when you choose from the "ready" instead of the "best" from your competition.
The economy will heat up again soon. Open jobs will be filled and more will be created. The Bureau of Labor Statistics projects that we will have 167,754,000 jobs in the employment market in 2010, just seven short years away. At the same time, we will only have 157,721,000 people in the labor market—a shortage of 10,033,000 workers! These figures don’t even take skill needs into consideration, just raw numbers of workers. This decade will make the tight labor market of the late 1990s look like a practice session.
The SearchPartner advantage, and our core value proposition, is that we take risk out of the process of conducting a search. If you have a mission critical position to fill and your attitude is "this search can't fail", you should choose SearchPartner.
Many of you are reading this while in the process of choosing the firm for your next search. You may have already discussed with us the preferred method of engaged search. While SearchPartner respects retained and contingency search and even employs these methods we prefer the engagement model for several reasons.
In 2001 82% of all jobs were filled through networking and people the job-seeker already knows etc.
12% of all jobs were through some kind of fee-based entity like SearchPartner.
Finally, 1.7% of all jobs in the economy were filled by all the job boards combined with 1.2% of those being Monster.
First and foremost is the idea of shared risk.
Fully retained search industry self-published numbers are that between 30 and 40% of all searches paid for are not completed.
As a client dealing with full contingency firms (for the first time) you have no idea what to expect especially if you are signing with a firm at a lower than standard rate. Even if the money is the same the market dictates that full contingency recruiters chase the newest hottest job which might be yours until the next one comes along.
"As a hiring manager, I was always presented with a solid array of talent to select from and Dave always provided proper background and positioning of each candidate and adeptly coordinated all scheduled interviews and ensured that candidates knew where they were to meet, who they would meet and that they were properly prepared."
In our engaged model you share the risk by paying only a portion of the total contingency fee up front. This will ensure our sunk costs are covered and leave you with little exposure. Your risk is further minimized by the fact that SearchPartner fills all of its engaged searches and does not want your engagement fee so much that we’d risk our ability to retain this claim.
Once we have an established business relationship with several placements we will often waive the engagement fee except on certain searches.