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What is the difference between Agency and Search?
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An Executive Search consultancy recruits by contacting pre-targeted executive level candidates directly. This saves advertising cost and time waiting for a response. In addition, since candidates are pre-qualified as recruiting targets, the client receives only the best candidates.
An Agency specializes in recruiting via advertisements to attract a high volume of respondents. These respondents are then profiled in a database. If a job order and a profile match, an agency then delivers these respondents to the client.
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Which is better, Agency or Search?
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Agencies depend on advertising and their databases to fill job orders. The problem with this is that people who actively search for vacancies from advertisements are likely to be unsuccessful people who are unhappy with their current employment or out of work. These are not the type of employees most clients want. In addition, databases become outdated without constant monitoring. It is unlikely than an agency managing thousands of profiles are able to update all profiles on a daily basis.
On the other hand, Executive Search consultancies do not advertise but rather target candidates directly. The reason for this is people who are successful and happy with their current employment are very unlikely to be looking at advertisements in search for a new job. Search consultants carefully research client industries then target candidates who fit the client's requirements, are well qualified, and have a proven track record.
Therefore, the only way to attract the highest quality executive level candidates is to build a good relationship with a reputable search consultancy like Paragon.
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Why doesn' t Paragon charge fees comparable to Manpower or Addecco?
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To begin, agencies sell from a stockpile of ad respondent profiles and are unlikely to provide the high quality candidates a targeted executive search can deliver. If cost is the most important factor to a client' s recruiting decision, Paragon' s Flexible Staffing service is suitable for non-key positions (salaries below B30,000) and charges a competitive rate.
However, if the client needs the best candidates for executive positions, our contingent charge of 18% for new clients is very reasonable.
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Why doesn' t Paragon negotiate its fees?
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Fees provide for Paragon' s internal cost structure, slighter higher fees allow our executive search consultants to provide superior service. Our search consultants work very hard to research and understand a client' s industry and specific needs so that they can deliver the best candidates to our clients. Lowering the fee will prevent consultants from working at their full potential.
Remember, most recruiting companies operate on a retained basis and require clients to pay fees upfront. Executive search companies operating on this system charge fees of up to 40%. Therefore, most of our first time clients are happy to pay our 18% fee once they have compared us to other recruiters and have seen the services we provide. Lastly, our fee is contingent for new clients. This means that our services are free until you hire a candidate!
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Why doesn' t Paragon give rebates, guarantees, or replacements?
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With 12 years of proven experience in both Europe and Asia we know that if a client works closely with us and gives full details of candidate requirements and other relevant information, we will find the best possible candidates for your key vacancies. The more details we have, the more refined a search we can provide.
In addition, executive search candidates are already successful in their current position. If they accept the client' s job offer, they take on very high risks in trusting their futures with a new company and are much less likely to move again once they have joined the client. Therefore, we see no need for rebates, guarantees, or replacements.
However, if a client can prove that a candidate placed by Paragon failed within their first 6 months with the client due to Paragon' s failure during the recruiting process, we will fully reimburse the client.
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Rebates, guarantees, and replacements do not work.
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Rebates, guarantees, and replacements simply do not work in executive recruiting because qualifications for an executive position are not as easily replaced as say a laborer position. If a recruiter delivers an unsuccessful candidate, time and resources have been wasted and the trust between the recruiter and the client has been violated. It is unlikely that a client will want to continue with the present recruiter. Also, once a candidate has been placed, Agency recruiters are less likely to spend time finding a replacement since there is no longer a fee to be made.
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Why do Agencies give them?
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There are at least two reasons why other recruiters offer rebates, guarantees, and replacements.
First, Agencies are not confident about the quality of their candidates since they rely on Ad response and an outdated database.
Second, since Agencies charge upfront, they will often tell you what you want to hear in order to make a quick fee.
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