Frequently Asked Questions

An executive search firm, also nown as an executive recruitment firm or head-hunter, is a specialised type of recruiting agency that focuses on identifying and recruiting top-level or executive-level candidates for senior positions within organisations. These firms offer services to help companies find and hire the most qualified and experienced professionals for leadership roles. Here are some key aspects of what executive search firms do:

Talent Identification: Executive search firms excel in identifying and researching potential candidates with the skills, experience, and qualifications required for executive or senior management roles. They often maintain extensive networks and databases of high-level professionals.

Search Strategy: These firms work closely with their clients to develop a comprehensive search strategy. This includes defining the specific requirements for the position, such as the desired skills, experience, and cultural fit within the organisation.

Market Research: Executive search firms conduct in-depth market research to understand the competitive landscape and identify potential candidates within the client's industry and related fields.

Candidate Assessment: They evaluate potential candidates through interviews, reference checks, and other assessment methods. This helps ensure that the candidates are qualified on paper and an excellent cultural fit for the client's organisation.

Confidentiality: Executive search firms often operate under strict confidentiality agreements, especially when searching for sensitive or high-profile positions. This allows candidates to explore new opportunities discreetly.

Negotiation and Offer Facilitation: These firms can play a crucial role in the negotiation process between the client and the chosen candidate. They may assist in structuring compensation packages and other employment terms.

Long-Term Relationship: While the primary focus is on the current executive search, many firms aim to build long-term relationships with their clients. They seek to understand the client's talent needs and assist in succession planning.

Global Reach: Some executive search firms have a global presence, making it easier for multinational companies to find candidates for positions in various locations worldwide.

Industry Specialisation: Many executive search firms specialise in particular industries or sectors, which allows them to have a deep understanding of the unique challenges and requirements of those industries.

Retained vs. Contingency Searches: Executive search firms may work on a retained or contingency basis. Retained searches involve an exclusive and often more comprehensive engagement, while contingency searches are non-exclusive and may be less in-depth.

Overall, executive search firms aim to save their clients time and resources by providing a focused, efficient and expert approach to finding the right leaders for their organisations. The fees for these services are typically higher than those of traditional recruiting agencies, reflecting the specialised expertise and tailored approach to executive-level hiring.

Executive search firms differ from traditional recruitment agencies due to their ‘candidate-driven’ framework. Recruitment agencies tend to work with people and candidates actively looking for new positions and therefore are likely to apply for roles on job boards and company career pages. They will then qualify and sort these candidates before introducing the profiles to their clients. Executive search firms will conduct searches for passive candidates who are not necessarily looking for new opportunities but are potentially the best fit for the role. Executive search firms are not reliant on candidates looking for a new move but instead more focused on finding the best people. Executive search firms will regularly qualify the candidate on some level before introducing them to the opportunity. If a candidate is interested in the opportunity and meets the requirements, they will be introduced to the client.

Most executive search firms, including Oakstone, will offer a more comprehensive service, including supporting and consulting on the interview process and package negotiations.

There are no restrictions or limits regarding industries executive search firms specialise in. Generalist search firms will work with all sectors, whereas specialist search firms will focus on specific ones.

Oakstone International focus on supporting SaaS and Fintech sectors.

Talk to at least three firms to find the right executive search firm. Ask for recommendations and do your research online. Consider their areas of specialisation, success record and culture.

Create a list of criteria you consider important and prepare some questions so you can qualify them. Then, ask them to talk you through their process and ask for relevant case studies and testimonials. Executive search is an investment, and you should choose an executive search firm that will invest time into getting to know you and your company – acting as an extension of your team, ensuring you get the right hires onboard.

The cost of an executive search varies considerably from 20% of the base salary to 35%-40% of the total package. Companies can expect to pay around 25% -30 % of the role’s first year’s income.

The cost will depend on the type of executive search agreement (contingent, retained, RPO), the complexity of the role and seniority.

Oakstone International’s search process is as follows:

Initial contact and face-to-face meeting

Assign a specialist client manager to your recruitment project who takes a detailed brief of your requirements.

Identify and agree on target companies – or sectors – to focus our search efforts on

Search for suitable candidates targeting 50 to 70 companies where potential candidates are currently working.

Identify 50 to 70 people, approach and talk to them by phone and present your opportunity to assess their competence and interest. We build relationships with the people we speak to and align their needs and priorities with the roles we are working on, ensuring what’s important to them is important to you.

Research and qualify the background of interested candidates taking initial references before continuing with more in-depth phone interviews

Reduce the list to 10 to 20 people, inviting them for face-to-face meetings where each is assessed for their suitability and told who the client is

Finally, produce a shortlist of 3 to 6 candidates – all highly capable and interested – presenting their details to you so you can conduct your final interviews.

The time each executive search take varies depending on the firm you choose to work with and the difficulty of the search itself. Typically, an executive search takes between 6 and 12 weeks from the initial briefing to the signing of the contract.

Oakstone’s average executive search process takes 40 days from briefing to the signing of the contract.

Executive search firms find candidates through various methods, including personal and professional networks, existing databases and public databases such as LinkedIn. Other methods include networking at events and recommendations.

Using an executive search firm offers several benefits for organisations seeking to fill senior-level and executive positions:

1. Access to a Specialised Talent Pool: Executive search firms have extensive networks and industry-specific knowledge, allowing them to tap into a vast talent pool of qualified candidates who may not be actively seeking new opportunities but are open to the right offer.

2. Expertise in Candidate Assessment: These firms have experience and expertise in evaluating candidates for executive roles. They thoroughly screen and assess candidates to ensure they meet the client's specific requirements, both in terms of qualifications and cultural fit.

3. Time and Resource Savings: Executive searches can be time-consuming and resource-intensive. By outsourcing the search process to a professional firm, the client organisation can save valuable time and resources that can be redirected toward other strategic initiatives.

4. Confidentiality: Executive search firms maintain strict confidentiality throughout the hiring process, which can be crucial when dealing with sensitive executive-level transitions or situations.

5. Objective and Unbiased Evaluation: Search firms provide an objective perspective on candidates and can help mitigate biases in an internal hiring process.

6. Broad Reach: These firms can cast a wide net to identify potential candidates, including those located in different regions or even internationally. This helps organisations find the best talent, regardless of geographical boundaries.

7. Streamlined Recruitment Process: Executive search firms handle the entire recruitment process, from initial candidate identification to the final offer stage. They ensure that the process is well-organised and efficient.

8. Higher-Quality Hires: By using a search firm, organisations increase the likelihood of making a high-quality hire, as the candidates presented have already undergone rigorous assessment and screening.

9. Negotiation Support: Search firms can assist with compensation negotiations, helping to ensure that the final offer is competitive and attractive to the chosen candidate.

10. Reduced Risk of Misalignment: With their industry knowledge and understanding of the client's needs, executive search firms are better equipped to ensure that the candidates align with the organisation's strategic goals and culture.

11. Continuity: In the event of unforeseen changes or challenges during the hiring process, executive search firms can provide guidance and support to keep the process on track.

12. Long-Term Relationship Building: Using an executive search firm can establish a long-term partnership that goes beyond a single search, as the firm can become a trusted advisor for organisational talent strategy.

It's important to note that the effectiveness of an executive search firm depends on selecting the right firm with expertise in the specific industry and an excellent track record in executive recruitment. The cost of using such services can be higher compared to traditional hiring methods, but the potential benefits in terms of finding top-tier talent and making successful executive-level hires can far outweigh the costs.

Some executive search firms will assist with a company’s onboarding process. This is a question to ask when qualifying an executive search firm.

This is a service that Oakstone can offer.

If a client requires a search to be confidential, experienced executive search firms can offer a service that ensures any person contacted about the role will only be given information after a non-disclose agreement is signed.

Oakstone have worked on many confidential roles including C-Suite and executive leadership.

Each executive search firm’s success rate will vary. The success rate will depend on how well you select your search partner, how well you brief them and how collaborative and communicative your relationship with the firm is. If a strong partnership is established and both parties are committed to one another, the success rate of any search should be greater than 90%.

All quality executive search firms will stay up to date or ahead of the industries they serve by studying their sector news and by talking to thought leaders within their space daily.

Executive search firms often offer some guarantees within their terms of business. This usually includes replacement candidates that don’t work out over a period of time.

Oakstone has over 28 years experience of executive search within the SaaS and FinTech sectors. Our team have built entire global go-to-market teams for software giants such as Coupa and made key C level hires for smaller SaaS start-ups such as Widgit.

Oakstone does not advertise any roles due to our structured methodology and ability to find the right people for our clients. Advertising roles tend to target ‘low hanging fruit’ for example, only attracting people who are actively looking for a new opportunity. The issue with targeting active candidates is that the high-performing talent is not looking for new opportunities, which means companies miss out on the best people.

Our ability to conduct highly targeted searches and reach out to people enables us to target talent who is not necessarily actively looking for new opportunities. These passive candidates are usually excelling in their current roles. However, Oakstone’s outreach capabilities allow us to present new and exciting opportunities to these high achievers.

Every single one of our searches is conducted using our structured methodology which ensures we don’t miss any potential candidates. Every role is treated with the same care, consideration and due diligence whether you are hiring a sales team or a sales leader.