network of search firms, usually globally distributed, that affiliate under a single brand and refer search work back and forth. Often, there is a small “membership fee” to belong to a network, which is used in part to create a cover brand and marketing/web presence to represent the alliance.
assessment
see evaluation
boutique
a small firm with just a few partners, or a firm that has well-defined specialty practice areas, usually focused on a specific industry or industries. As Wikipedia defines the term: “It can also refer to a specialised firm such as a boutique investment bank or boutique law firm. The word is often used to describe a property in the independent section of the hotel market (such as The Rockwell in London) in order to distinguish themselves from larger chains (such as Hilton Hotels). In such cases the idea is that the operation is elite and highly specialized.”
candidate exclusivity
a candidate is only in consideration for one company/search at a time. See parallel processing.
confederacy
see alliance
contingency search
contingency firms get paid only if you make a hire through them. The fee is “contingent” upon a successful hire. Contingency fee structures are most appropriate for searches at the director level and below. If the search is important, retained search assures someone is contractually obligated to act on your behalf in identifying and recruiting candidates and to objectively assess which candidates are best fits, ensuring you have a partner in securing a final candidate.
CV
short for “curriculum vitae,” see resume
curriculum vitae
see resume
end game
the search period during which negotiations around compensation and terms of employment are being negotiated for a short list of candidates.
this is the interview assessment the search firm provides of each candidate it considers viable for the position. Evaluations/assessments can be provided as a one- or multiple-page write-up, or at times verbally. Often, evaluations may include other assessment/evaluation tools including personality profiling, personal background/history of the candidate, psychological evaluation, etc.
within some search firms, an employee who focuses on developing candidates on a specific search.
generalist
a search firm that has no specific specialty other than executive-level search. Such firms may focus on a specific geographic region rather than a specific industry (i.e. technology, life sciences, financial service, manufacturing, pharma) or functional area (i.e. CFOs, CEOs, CIOs, etc.).
much to the surprise of companies and executive candidates, the search industry does not perceive “headhunter” as a pejorative term. Feel free to use it without the typical, “Whoops, I’m sorry, what do you prefer to call yourselves again?”
interview report
see evaluation
leverage
in an executive search firm larger than sole practitioner, several consultants, principals, or partners may work as a team on the same search. This term is often used in large firms to describe the practice of a partner who brings in the search and “leverages” him/herself by using more junior talent to execute much/most of the search regarding candidate research, candidate development, etc.
network
see alliance
off-limits
this is a list of companies who have been clients of a search firm in the recent past (usually within the last two years) and that the search firm is contractually obligated NOT to recruit from. Typically, the off-limits lists for large search firms can be … well … large. And long.
parallel processing
this is a bad practice in which a search firm has the same candidate interviewing for multiple searches/clients/companies at the same time.
progress report
a report generated periodically by the executive search consultant for the client to let them know how the search is going. Often, this report is combined with a periodic status update call. The report may include a list of companies and positions contacted by the search firm, a list of resumes being assessed, candidate interview summaries, and market intelligence on compensation for the position in question.
researcher
an employee or contractor who researches target companies and identifies target candidates for a search. Solo practitioners may use contract researchers for this or do it themselves. Larger firms usually have a combination of in-house and contract researchers.
resume (synonyms = CV, curriculum vitae)
in the United States, “resume” refers to a several-page document provided by the executive candidate summarizing professionl and education experience, usually in reverse chronological order. In Europe, a “CV” or curriculum vitae is often employed, which has a slightly longer format, and often is inclusive of academic credentials, including papers published.
retained search
retainer firms require payment prior to the actual hire (usually one-third at the outset, a third at some intermediate point, and the final third on hiring or after another set period of time).
rusing
this is a bad practice in which some search firms&mdash in order to get the name of a potential target recruit in a company&mdash create a “ruse” to try to trick someone in the company into giving up that target’s name and contact information. One clichéd ruse is: “I’m a PhD student doing research on ___ topic. Would you give me the name of your ____, and his/her email and direct extension?”
search methodology
the way a search is conducted. Quality standards in search methodology&mdash meaning execution of searches in the same way&mdash is an oxymoron in large search firms. Inconsistencies in the way each senior partner executes searches erodes the value of a “trusted brand.” The best research on this is by Wharton PhD student Monika Hamori, who wrote about quality standards in retained executive search in her paper, “The Adoption of Quality Standards in Human-Asset-Intensive Service Organizations: The Case of Executive Search.” http://www.allbusiness.com/specialty-businesses/332669-1.html
short list
three or more candidates chosen for interviews because the company and the search firm agree they are qualified.
white-shoe firm
a term used in the search industry to describe the large generalist firms. Thought to have been coined from the favored footwear of choice in the industry’s early years.
