Why Firm Selection Matters More Than You Think
A retained search firm receives an upfront fee before a single candidate is contacted. The incentive structure of retained search should, in theory, align the firm's interests with yours — they get paid when you get the right person, not when you get a fast person. In practice, the quality of execution varies enormously between firms and between individual partners within the same firm.
Questions to Ask Every Search Firm
"How many searches are you personally managing right now?"
A partner who is personally managing 12 concurrent searches cannot give yours the attention it requires. Ask specifically how many searches the individual you'd be working with is running simultaneously. The answer tells you more about search quality than any credential.
"Can you show me a sample shortlist?"
An anonymized shortlist from a comparable completed search shows you the level of rigor, the quality of the evidence dossier, and how the firm presents candidates. A firm with a strong process will show you this willingly. One that deflects is protecting a weaker process.
"What is your average close time for this type of search?"
Industry median for VP searches is 65-90 days. A firm that claims 30 days for every search is either not doing thorough work or is showing you an outlier. A firm that gives you a realistic range and explains what drives it is being honest about the process.
"What's your replacement rate and how do you handle replacements?"
Every search firm should offer a replacement guarantee. Ask specifically: in what circumstances is the guarantee invoked, how is the replacement search handled, and who pays for it? A firm that provides a clear, unconditional 90-day guarantee is a firm with confidence in its placements.
Red Flags
- A partner who presents candidates immediately after the briefing, without a sourcing period
- Candidates drawn exclusively from the firm's existing database rather than fresh sourcing
- Vague answers about their process for assessing candidate quality
- No structured reference check process
- Pressure to accept a candidate before the process is complete
The Reputation Trap
Many CEOs choose search firms based on brand name. The reality is that search quality is determined by the individual partner running your search, not the firm's reputation. A junior partner at a prestigious firm often produces worse results than a senior partner at a boutique firm. Ask to meet the specific person who will run your search -- not just the managing partner who closes the sale.
See: Retained vs. Contingency Search | Majhi Search Framework | When to Use a Search Firm
"41 days. A $275K search. Two firms failed in 60+ days. That's not luck -- that's a different system."
-- Majhi Group placement record. Read the full process anatomy