1. Consulting Partner
Retained search firms work for their clients in order to achieve the best possible match of candidates in terms of skill set, experience and culture. All of these factors are appreciated by a firm that represents the client to find “the right candidate” as opposed to a blizzard of potential people from contingency firms that are trying to be the first to the finish line. As an extension of a company’s organization a retained search firm is looking to achieve the right match based on a variety of factors not just the bullet points of a resume. Their experience within the industry will allow the firm to take a lead in finding the candidate your company is truly looking to add to your team.

2. Industry Oriented
Retained firms specialize in particular industries of focus; thus they have industry knowledge of a company’s needs, challenges and growth patterns that are invaluable to the companies that they represent. This represents equal information and knowledge that eliminates significant time to educated the firm representing the company’s interest. Boutique firms take this typically a step further with a narrower focus on very specific areas of business within industries allowing the partnership between client and firm to have a true understanding and vested interest in the success of the companies representing their industry.

3. Highly Specialized at the Senior Level Management Position
Retained Firms generally work in the field of senior management where the pool of talent is smaller. This requires executive recruiters to have a dedicated research staff as well as the ability to attract talent from within companies’ competitors or related industries. This additional step insures the candidates presented will be more suited to the position, company & industry of interest. Boutique firms typically hire their research groups from their representative industries boosting years of additional expertise.

4. Use of thorough Screenings, Assessments & Background Checking
Another distinguishing feature of retained firms is their use of screenings and assessments to insure that the candidate is truly prepared for the position. The firm that is hired will insure that they present candidates that are aligned with the exact specifications that have been outlined. The additional screenings and background data allows companies to be confident with those presented and insure further the alignment of goals and experience.

5. Ability to Close Positions with the Right Candidates
Retained search firms signify a more succinct form of search. The focus is looking for the right candidate for their clients; they will take more time to search for the right person as opposed to dropping searches because the candidate is not readily available. Retained headhunters are devoted to each search and will continue to work through the difficult positions to fill because of their relationship with the client. Contingency firms, which are more transaction oriented, need to assess the value of each search in terms of time in and ability to fill the position. Retained firms are not under the same business model and this allows them to dig in on a really difficult search without worrying about time spent. This partnership with their clients defines the actions of the retained search industry.

*source www.careerstrategy.org & www.allbusiness.com

It may be too soon to start pulling out the balloons and champagne but…. Execunet is reporting through the Recruiters Confidence Index (RCI) that confidence has soared 29 points in the last 3 months. This is hitting a recent high for the months of May & June suggesting a ramp up in their businesses for the second half of the year. Execunet sources their RCI on 145 executive recruiters as the source of their knowledge.

These may not be mass hires across the board; they will probably begin as strategic placements which will vastly improve the boutique recruiters’ position in acquiring these placements. With the searches being so specific and necessary, the boutique search industry will be better suited to find the most competent individuals for the position. The pool of overqualified candidates will require the knowing eye of a source most familiar with the positions and industry and be able to determine the best executive.

The president & chief economist of Execunet, Mark Anderson stated the following:
“Recruiters’ outlook for the executive employment market during the second half of the year suggests that the bottom of the recession is now in their rearview mirrors,” says Mark Anderson, President and Chief Economist of ExecuNet. “While recruiters are not expecting to see hiring rebound overnight, professionals seeking opportunities to take their career to the next level should have a plan in place to increase their visibility among search firms and their peers.”

This news is extremely positive and it is matched by the news reflected n their additional index. Execunet also reported the Search Firm Hiring Index which has stabilized from the Q4 ’08 dip to a growth margin of over 10% in the last two months. Again this seems to reflect the nature of the growth going forward; one of strategic and well planned additions to an organization as opposed to wide spread mass hirings.

The future holds promise that there are new and bright horizons going forward. This would allow those who are most competent in their field and industry to be able to experience growth in a time where things have been desolate. Execunet studies and indexes reflect the cautious optimism that has been buzzing within the executive search industry in a whisper.

In a recent article in the New York Times, George Andes voices the distinct and unique ways that boutique search firms are approaching the industry in the current economy as well as the innovative techniques they are using to excel in retained search. Mr. Andes article “The Secrets of Talent Scouts” (www.nytimes.com/2009/03/15/business/15talent.html?pagewanted=1&_r=1&emc=eta1); highlights his thesis that the strongest way to proceed in this economy is to line that boardroom with strong entrepreneurial talent that will create innovative thinking, solutions and products. The source for this talent lies in out of the box thinking that has been honed for years by the boutique search industry in their innovative techniques of sourcing top talent.

Mr. Andes interview with Robin Reed was extremely revealing of how boutique search varies considerably from larger organization. Ms. Reed a founder of Reed Shay & Company’s, a boutique search firm in the San Francisco and San Diego area, has established her expertise in the areas of technology including early stage venture backed disruptive technology, engineering and a CTO practice that has migrated through four continents. Ms. Reed has a passion for her practice and in so has created extremely innovative ways to source original talent. Her practice of following top achievers at the graduate level and watching the trajectory of their success encompasses the inventive ways top boutique talent sourcing will continue to provide the best and most promising candidates to innovative leaders. Her additional practice of attending unique conferences and searching extensive periodicals again provide her clients with the untapped talent that is needed to lead the next phase of corporate growth.

Ms. Reed’s astute observations regarding the talent search process can be summed up by her initial question at the beginning of her process “Imagine it’s a year from now. How will you know this has been an excellent hire?” The question serves as a springboard for her search process, but it can also provide a question of how boutique search excels as a stronger asset in a company’s growth. Boutique firms want to know the answer to this question because they’re investment in their client will mean that they will still be working with them in a year, in five years, and in ten years going forward.

Mr. Andes revealing article chronicles the talent search process from various industries and in doing so clearly reveals that the most successful talent will be found by the most innovative professionals. By providing the wealth of knowledge of an industry that a boutique search executive possesses can allow their clients the comfort of knowing that their interests are being addresses specific to them. The leaders that have a clear understanding of their industry and are willing to make significant strides to enhance the growth of change – this is the calling card of boutique search firms’ primary asset to their clients.

This is the first post.