Why use a search firm to fill our open positions?
Top talent is rarely actively looking to make a move when you most need them. Posting an ad on a job site or on your website will gain response mostly from less qualified active seekers; search consultants have extensive networks of passive candidates who will learn of your company and its opportunities only through direct contact by a recruiter. This significantly increases the pool of qualified candidates that can be presented to you.
What makes Stone & Associates special?
Stone & Associates specializes in sourcing talent in the banking industry. The recruiter working on the assignment can source candidates more efficiently because he/she has knowledge of your industry and its language and job functions, and understands the roles within your company and how the available position fits into the whole.
Our search consultants possess a wealth of information about the banking industry and can provide valuable insight on each local market and provide insight on competitive compensation packages.
What happens after you present a candidate?
Once we source and present qualified candidates, our job does not stop there. Our search consultants remain a valuable intermediary throughout the entire process, managing candidate expectations, collecting and presenting feedback to both parties, negotiating terms, doing reference checks and making every effort to secure a win-win scenario.
Throughout this process, we will ensure that your organization and its available positions are represented in a professional and appropriate manner.
What’s the difference between Retained, Engagement and Contingency Search?
Retained searches are generally considered for those searches where you are asking Stone & Associates to clear our desks and devote 100% of our resources to filling your opening in the shortest possible time. Generally, a retained search requires a 1/3 retainer up-front to engage our services. We earn the next 1/3 fee through performance requirements specified in our contract. Lastly, the final 1/3 fee is paid once we have completed the search and filled the position. Retained searches identify highly qualified candidates that are presented exclusively to your firm until you determine your interest of hiring or disqualifying. Every effort is made to identify those candidates that have demonstrated superior performance with your competitors.
An engagement search is similar to a retained search since you are paying a minimal engagement fee to show your commitment to this project and to get our commitment to give you preferential time on the project as compared to contingency clients. We will present at least 3 qualified candidates for each engaged-project. Stone & Associates will offer a 60-day replacement guarantee for an engaged-search. Since you are committed to the search and have a sense of urgency, we will set aside time and resources to fill this position as priority over contingency clients.
Lastly, contingency searches are your lowest risk option since you are not obligated to pay Stone & Associates until you have extended an offer to our candidate and they have accepted and begun work. Our payment is expected within 15 days of their start date. The contingency search however is a search process whereby we will allocate time available among all of our other contingency searches. We try to identify and present 1 to 3 qualified candidates to meet your needs but these candidates could be presented to other contingent clients at the same time. A 30-day guarantee period is included, for a percentage of the candidate’s first year guaranteed compensation.
How long will it take before I get candidates to interview?
Our goal is to conduct a search that will funnel down dozens of candidates into a finalist list of 3 to 6 candidates by the end of 2 weeks. These candidates will have been initially screened followed by a second more in-depth interview before you receive their resume. Some searches may offer more challenge due to either the job specialty or the geographic location or both. Stone & Associates will provide a weekly update of the progress of the search for as long as it takes to fill the position.