EXECUTIVE SEARCH IS THE PROCESS OF RECRUITING INDIVIDUALS TO FILL EXECUTIVE POSITIONS IN ORGANIZATIONS. EXECUTIVE SEARCH MAY BE PERFORMED BY AN ORGANIZATION’S BOARD OF DIRECTORS, EXECUTIVES IN THE ORGANIZATION, OR AN OUTSIDE EXECUTIVE SEARCH ORGANIZATION.
The people working at the above companies are called executive search consultants, search consultants or simply recruiters. Search consultants are often entrenched in particular market sectors or niches in an effort to become an expert in that segment. Their market sector networks are used along with various recruiting methods to seek candidates for a particular position. Normally the individuals are not actively seeking a new position and it is the function of the search consultant to approach these individuals with the object of enticing them out of their current company and placing them in another, often a competitor. Search, especially Executive Search, is an extremely lucrative career with unlimited income potential. For this reason, there is fierce competition. Generally a search firm is broken down into four functions: Business Development, Recruiting, Research and Account Management. In the majority of cases the Business Development person receives the largest commission while the Researcher receives the smallest.