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8 CPA Prac. Mgmt. F. 8 (2012)
Choose Wisely When Hiring a Search Firm to Recruit for Key Positions

handle is hein.journals/cpamanf8 and id is 242 raw text is: OCTOBER 2012 Choose Wisely When Hiring a Search Firm to Recruit for Key Positions Like accounting firms, not all recruiters are created equal. By Geremy C. Cepin f your firm is similar to most firms in the ac- counting industry, you have been trying to fill one or more key positions that have been open for months without any success. Recruiting profes- sionals and management with the highly sought after skills needed to grow your firm is no easy feat. Be- cause of this dilemma, firms will occasionally turn to an executive search professional for assistance. How- ever, just like accounting firms, not all recruiters are created equal. Choosing the right type of search firm to fill your organization's key vacancies is one of the most important decisions your company will make for the following two reasons: 1. the potential upside the right person can deliver; and 2. the huge cost (not only measured in dollars) of mak- ing a bad hire. Use a search firm Search firms exist because of two factors: (1) the lack of suitable talent in an organization; and (2) the growing needs of a firm. There is a shortage of highly skilled talent, and the success of an organi- zation is determined by the quality of talent it can attract and retain. Finding top talent isn't easy. Top candidates are not scouring job boards or engaging other firms because they are presently engaged in their current work. These individuals need to be made aware of other career op- portunities. A recruitment process that includes an executive search firm has a competitive edge because it locates and engages top-tier performers who would not otherwise know about the opportunity your firm has to offer. By using a search approach, a company can in- crease its chance of finding the right candidate. Some companies know well enough that they will have a small pool of candidates to choose from when trying to fill certain roles (e.g., a technical special- ist). If the search isn't performed with dexterity us- ing proven methodologies, the company can suffer the risk of not getting the position filled. A search firm acts as an extension of its client and is an impartial agent between the client and the can- didate. It performs a proactive intermediary role that is indispensable in communicating, assessing, and ne- gotiating with professionals who are not necessarily active job applicants, but rather passive, potentially interested candidates. The delicate manner in which these relationships are handled during the courting of recruitment is critical to a successful outcome. It is best performed by a consultant who has the trust of both sides and can smooth the obstacles that will inevitably arise. A third party can help provide communicaton and resolution during difficult e i A third party can also act as an ainbas 4 md problem resolver without the maii rt M& td bec ing negatively influenced [f ihther's ne - ating stance. Search consuk~ts will be act involved during the recruitment process an d after the hiring decisionis ade becaise they coi- tinue to be in touch with the cient and the suc- cessful candidate. Contingency vs. retaine If you are considering us cal talent, you need to d gency firm or a retained Contingency firms at they get paid only if yoi ent to you). Typically, relationships with doze find a first-rate candi prospect to as many fi successful placement. Retained search firms, suiting-oriented (i.e., the how long it takes to find to accountants, lawyers, firms are hired for their s CPA PRACTICE MANAGEMENT FORUM

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