Successful placement firms use an effective tool that enables them to conduct and complete more assignments. Once perceived as the sole property of retained search companies, candidate research has become a powerful addition to the arsenal of 21st century recruiting firms. Some forward thinking practitioners not only have in-house researchers but also sell candidate research to their clients. Others purchase research from the host of candidate research firms around the country. (Ken Cole’s Recruiting and Research Report publishes a national directory of independent researchers (www.rsronline.com; 850-235-3733).This month we’ll present some considerations about selecting and evaluating a candidate research firm. Sad to say there are some candidate research companies that promise the moon, take any kind of assignment, guarantee turnaround in five days or sooner, and submit a research report that is far off the mark. I save the brochures of firms that advertise their candidate research capabilities. I’ll quote from one very lengthy brochure to give you an idea of the wide array of candidate research services.This company provides many bells and whistles with their services but their brochure is a little confusing. Look especially at the fee structure. Most firms have a much simpler approach.”Name Generation. We will provide you with the name, company name, title and telephone number of the person(s) that meet your job requirements from your competitors.$50 Names ServiceMinimum 20 names Total Cost: $1,000Receive the first candidates in 24 hours from the time we start the project.Time to completion is typically 5 business days.Profiling. With the Profiling Service you will receive much more information about each and every candidate. Besides the name, company name, title and telephone number you will also receive a profile which includes the number of years in the industry and at their current company, their education and answers to specific questions about their skill sets and direct work experience that may qualify them for your position.Profiling Service: Simple Profile – $300 Profile ServiceMinimum 7 profiles Total Cost $2,100Receive the first candidates in 48 hoursTime to completion is typically 10 business daysBasic Profile – $500 Profile ServiceMinimum 7 profiles Total cost $3,400.Receive the 3 first candidates in 48 hours from the time we start the projectTime to completion is typically 10 business daysAdvanced Profile – $750 Profile ServiceMinimum 7 profiles. Total cost $5,250Receive the first candidates in 48 hours from the time we start the project.Time to completion is typically 10 business daysQuick Response Profile – $750 Profile ServiceMinimum 4 profiles. Total cost $3,000Receive the first candidates in 24 hours from the time we start the project.Hourly Contract Projects$90 an hour Profile ServiceMinimum 80 hours. Total cost $7,200Receive the first candidates in 48 hours from the time we start the project2 researchers will be assigned to work on your projects.”As you read this excerpt your reaction may be “caveat emptor,” let the buyer beware! There are many other samples available but you get the idea. So, then, how do you evaluate a candidate research firm?Candidate research firms abound. I’m sure that even Ken Cole’s national directory has slimmed down during the recession. Here are a few guidelines for selecting and evaluating a research firm:
If your company has in-house candidate researchers, or if you use independent research firms, you should be familiar with the Executive Search Roundtable (www.esroundtable.org). ESR was founded in 1979 and continues to provide a unique perspective on the knowledge and skills of the executive search execution and research. Through a variety of programs and services ESR provides best practices, professional development and networking opportunities.
