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How to Justify Paying Executive Search Firm Fees

Posted by Bob Corlett on May 27, 2020

During an economic downturn, it’s wise to make a strong business case for major expenditures. And if you are considering paying a fee to an executive search firm, it’s not hard to envision your CFO looking into their video camera incredulously and asking, “In the middle of a pandemic, with the national unemployment rate at 20 or 30%, why do we need a search firm?” Your CFO might have a point. Why not just post an ad somewhere, let candidates line up around the block (6 feet apart), and then hire the best person who applied? The truth is, for some jobs, that might work out just fine. Particularly if great people with the skills you need have been laid off in large numbers.

But what if you already tried that and your job advertisement didn’t get results? What if the people you want to hire are still hard at work for their current employer? What if they are not answering job ads? Then you are right back on a video call with the CFO again.

When you are on that call, what arguments will persuade the CFO? What will a search firm do to recruit candidates beyond just posting ads? (That's an easy one, we have a short video for that very question.)

SA-ResearchProcess

 

And for each of the questions below, we linked to other answers you might find helpful:

If you (or your CFO) have any other questions, feel free to contact me.

 

 

Topics: Executive Search