Want Help Finding a Job? Contact an Executive Placement Firm

Executive placement firms and an executive search firms both operate within the field of recruitment, particularly at the higher levels of corporate hierarchy, but they serve slightly different functions and purposes in the recruitment process. Here's a breakdown of the key differences:

Purpose and Focus:

Executive Search Firm: Focuses primarily on sourcing and recruiting candidates for senior-level and executive positions on behalf of client companies. These firms specialize in identifying, assessing, and recruiting top-tier talent, often for specialized or high-level positions that are not advertised publicly. They typically work on a retained basis, meaning they are hired by the client company for a specific search and are paid regardless of the outcome.

Executive Placement Firm: While also involved in placing candidates into jobs, these firms may have a broader scope including not just executive search but also placement services at various levels of an organization. They may assist candidates in finding suitable positions and work on behalf of the job seeker finding them a new job opportunity. Due to this relationship, placement firms operate on contingency, getting paid only when they successfully place a candidate.

Methodology:

Executive Search Firm: These firms often employ a proactive approach, conducting thorough market research, networking to identify potential candidates, and directly approaching passive candidates (those not actively looking for a new job). Their process is highly customized to the client company's needs and involves deep assessments of candidates' skills, experiences, and cultural fit.

Executive Placement Firm: Placement firms might also recruit actively, but they often work with a pool of preexisting candidates relations who are seeking new opportunities. They match these candidates with open positions within their network of companies. The process can be less about headhunting and more about matching available talent with the needs of businesses.

Relationship with Clients:

Executive Search Firm: Tends to have a closer, advisory relationship with their client companies, often involving consulting on the job description, compensation package, and market conditions. They are typically retained for their services, meaning they are paid a fee upfront and work exclusively for the client until the position is filled.

Executive Placement Firm: While they can also have strong relationships with hiring organizations, their model may be more transactional, especially if they work on a contingency basis. They may provide valuable services in sourcing and screening candidates, but the depth of the consulting aspect might vary and is job seeker centric.

Fees and Payment Structure:

Executive Search Firm: Usually operates on a retained basis, receiving a portion of the fee upfront, another payment during the search, and the final payment upon successful placement. Their fees are often a percentage of the placed executive's first-year total compensation.

Executive Placement Firm: More likely to work on a contingency basis, meaning they are paid only if they successfully place a candidate. Their fee is typically a percentage of the candidate’s starting salary but only becomes due upon successful placement.

Both types of firms play crucial roles in the recruitment ecosystem, especially for senior-level positions and specialized roles, but the choice between them can depend on the specific needs, preferences, and circumstances of both employers and job seekers.

Cowen Partners Executive Search

At Cowen Partners, we stand at the forefront of the retained executive search industry, empowering companies to thrive and excel in their growth, revenue, and market presence.

We specialize in identifying exceptional leaders and placing them in key positions to drive success. Our team of seasoned executive recruiters collaborates with organizations of all sizes, encompassing both public and private enterprises, pre-IPO ventures, and non-profit entities. Through a meticulous and discerning approach, we unite handpicked candidates, with companies in pursuit of the most exceptional executive talent, representing the top 1%.

With the support of our experienced senior partners, we execute a diligent and efficient executive search process, ensuring leadership placements within a remarkable six-week timeframe.

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Executive search placements span the entire C-suite: CEOs, CFOs, COOs, CMOs, CIO/ CTOs, CHROs, CLOs, and leadership roles including VPs, Directors, and more.