|
FREQUENTLY ASKED QUESTIONS
Why use the services of a search firm? Corporate Internal recruiters utilize job postings, succession planning, web sites, career fairs, and job ads generally to source candidates for lower levels. For higher-level positions, the talent supply is more scarce and these individuals do not typically use those methods to search for new jobs. Therefore, external recruiting firms are often used to increase the pool of talent available for senior level positions. Why do companies use Diversity search firms? To recruit exceptional Diversity candidates, many clients' experience is that the traditional paths of recruiting do not produce the caliber of talent they seek. Furthermore, companies recognize that Director level and above Diversity candidates network and associate themselves with other people of color and women both personally and professionally. Accordingly, to identify and recruit qualified Diversity candidates requires a distinct expertise found at TMG. Firms engage TMG to leverage our proprietary Diversity candidate networks. TMG is a Retained Search Firm--What is the difference between a Retained and Contingency Search Firms? Exclusivity Retained search firms (RSFs) have a relationship/agreement with the client to conduct searches on an exclusive basis. In contrast, Contingency Search Firms (CSFs) do not have exclusivity to present candidates for requisitions /job openings. Rather a CSF may be one of several firms who are aware of a company's opening and have been duly approved as a preferred vendor to present candidates. Fees RSFs are typically paid a fee of 30-35% of a candidate's estimated first year cash compensation (base, sign on bonus & target bonus). These fees are usually billed in 3 installments. On the other hand, CSFs usually accrue a fee of 20-30% of a candidate's base salary ONLY and the CSF will be paid contingent on an actual placement. CSFs do not get reimbursed for approved, out-of-pocket expenses. Position Level RSFs are engaged to conduct searches for executive level roles paying base salaries of at least $125K+. In contrast, CSFs are usually hired to fill lower level management positions paying less than $90K. Research Finally, RSFs conduct extensive research, sourcing, recruiting as well as behavioral (face-to-face) interviewing before they present candidates to their clients. CSFs typically do not conduct extensive research, screening or interviewing before they send resumes ONLY to their clients. How does TMG differ from other Retained Search Firms? TMG differentiates its services from other search firms in three key ways-- We:
Do you specialize in one functional or industry area? No. We specialize in Diversity recruitment and retention of People of Color and Women. Accordingly, we conduct searches across all functional areas and industries. Our clients retain us to find Diversity talent in the following functional areas: Accounting, Finance, Marketing, Sales, Human Resources, Operations, IT and Consulting. In addition, TMG has conducted searches in the following industries: Banking, Financial Services, Consumer Goods, Utilities, Technology, Healthcare, Retail, Media, Entertainment and Pharmaceuticals. TMG leverages our extensive internal database and proprietary research and sourcing network, coupled with the diverse industry backgrounds of its principal leaders to meet the challenges of recruiting in various industries. Do you cover one geographical area? No. TMG has clients who are headquartered in the Midwest, Southwest, Northeast and Mid-Atlantic regions of the country. Regardless of where a client resides, or where they have openings, TMG conducts searches nationwide to find talent. What is Retention Consulting? Retention Consulting Services, primarily Executive Coaching Services (ECS), provide comprehensive staffing solutions for our clients. Once a candidate is hired, the company may want to further invest in the success of that candidate by offering ECS "on-boarding" to acclimate the newly hired candidates into the corporate culture. The company then sets up the diverse candidate for success by offering ECS during the candidate's first 3 months of employment. In addition, ECS is also utilized to improve the performance and productivity of any employee seeking to take their career to another level. Why hire an Executive Coach? Executive Coaches are hired to improve or refine individual performance and productivity in a corporate environment that requires doing more with less and being able to adapt and change very quickly. Coaching allows individuals to explore strengths and weaknesses and prepare them for greater responsibility. In addition, coaching offers a methodology to explore goals, objectives, and to define personal & professional success in a way that matters to the company. People often are willing to change once they experience assessment feedback that can be useful in changing present behavior and provide tools to handle future situations. Executive Coaching also provides a mechanism that allows individuals to create plans and measure progress while building a strong foundation for personal and professional growth. Why use the Executive Coaching Services of The McMillan Group? TMG is:
|