Rice Cohen International Blog

Setting Up a Search For Success

Fri, 27 Sep 2024 16:04:32 GMT

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If you are investing the time and money into hiring a search firm, the odds are pretty good that you want the search to go well. At Rice Cohen International, we have identified several key actions that our clients can take to set their engagement up for success.

Share key company information and documents before the intake call

The job of your search partner is to become your ambassador in the talent marketplace. The better you can educate your search partner on your firm the more successful they will be able to. Therefore, it is important to share things like marketing materials, whitepapers, drafts of job description, and any additional information so the search team can review them before the call. This will also help the search team learn your messaging when they are talking to candidates.

Prioritize the search intake call

Your search partner understands how busy you are and would not be asking for this time unless it was vital to the search’s success. The intake call is vital to delving deeper into your company, the role, and many other discussion points. Trying to shorten the call or not prioritizing it will only lose you time down the road.

Prioritize the search update calls

After the search has officially started, it is critical that you prioritize the weekly search update calls. These calls primarily focus on presenting qualified candidates to the client, gathering feedback, and calibrating the search where necessary. No matter how effective the intake call was, these search update calls serve as critical touchpoints during the course of the search.

Provide candid and transparent feedback on candidates

Your search partner will only know your level of satisfaction if you give honest and specific feedback on the candidates after interviewing them. Be as specific as possible because it will make the search team push on those details for future candidates to come in the process. If you hold back, expect to see more of the same. If you aren’t specific as to why you didn’t like the candidate, the search team won’t be able to learn for future candidates.

My team and I care deeply about our clients and we want all searches to go well. By following these suggestions, you can put yourself in the best position to have your search be a successful engagement for all.

The Value of Having an Internship Program

Thu, 13 Jun 2024 20:26:31 GMT

Rice Cohen welcomed our 2024 summer interns this week. It always surprises me how many firms don’t seem to value an internship program the way we do. From my 12+ years of running an internship program I have found that there are many benefits that come from it.

First, it allows the company to get familiar with potential future employees. Having an intern work for your organization gives them an easier transition to working full-time if your organization offers them a full-time position since they already know a little about your business and culture. This is a great way to pass on knowledge to the next generation and you may even inspire someone on their career journey.

I have found that having an internship program helps diversify the talent pipeline for our organization. It’s important not to rely solely on LinkedIn postings and internal referrals when searching for potential new hires. If you aren’t offering an internship program, you may be missing out on a valuable talent pool.

Perhaps most importantly, I fully believe that running an internship program is a great way to give back to the community. Most internships are focused on providing local college students with an opportunity to learn about business. This is how many future business leaders get their start much like my first internship gave me my mine. Rice Cohen is deeply passionate about giving back to the community. In fact it is part of our mission statement:

“Rice Cohen International is a recognized leader in providing executive search and human resource solutions. Our mission is to be the executive search provider of choice, measured by the value we deliver to our clients, our spirit as an organization and our commitment to the community. To make this vision a reality, we live by certain core values – Client Service, Performance, Specialization, Integrity, Partnerships, Teamwork and Community Service.”

If your organization is thinking about starting an internship program, I strongly encourage you to do so. The benefits are numerous to your organization and it most importantly is an opportunity to give back by teaching and inspiring current students and the future workforce.

Douglas De Almo

Managing Partner

ddealmo@ricecohen.com

Michael Daigle

Senior Researcher

mdaigle@ricecohen.com

Does your search partner have a process for handling the resignation and counteroffer?

Fri, 23 Feb 2024 19:18:35 GMT

Many of our clients ask us what we do different compared to other search firms. I always make sure to discuss how we approach the resignation and counteroffer stage of the process. Over the years, I have been surprised to hear how few search firms actually have an approach for this.

One clear differentiator that separates Rice Cohen International apart from other executive search firms is how we approach the resignation phase. Once a client has completed their assessment process and is looking to make an offer to a candidate, the team at RCI will coach them on the resignation process.

Our process has four steps:

1.Sharing information and data around why a candidate should not accept a counteroffer

2.Coaching the candidate around the resignation conversation

3.Role-playing the resignation conversation

4.Scheduling a follow up call to make sure the conversation went smoothly and advise on any outstanding items

Sharing information and data around why a candidate should not accept a counteroffer:

There have been many surveys and studies regarding counteroffers and candidates that accept them. The numbers vary, but they all show that at least 50% of candidates that accept counteroffers leave that job within the next six months. Those same articles and posts claim that 90% of employees leave within the first year after accepting a counteroffer.

Coaching the candidate around the resignation conversation:

Our approach has always been to coach candidates to take the high road during these difficult conversations. Relationships are important, and we always want to help candidates keep them intact for the future.

Role-playing the resignation conversation:

Role-playing the resignation conversation helps the candidate feel more comfortable going into the resignation conversation.

Scheduling a follow up call to make sure the conversation went smoothly and advise on any outstanding items:

This helps us get in front of potential issues, make sure the resignation went smoothly, and keep our client informed on the process.

If your search firm does not have a process around the resignation and counteroffer stage, they should! Otherwise, you are risking wasting a great deal of time and resources by losing at candidate at the end of the process.

Douglas De Almo

Managing Partner

ddealmo@ricecohen.com

Michael Daigle

Senior Researcher

mdaigle@ricecohen.com

Looking to hire in Q1 of 2024? Here are 4 reasons why now is the time to launch a search

Thu, 07 Dec 2023 16:14:18 GMT

Our clients often ask us, "Is now the right now time to launch a search for a Q1 hire?"

It is common at this time of year for many companies to begin to plan and strategize their direction, growth, and hiring plans for 2024. One of these strategic decisions is what to do about hiring new employees for the first quarter of 2024.

We are often asked by clients about when to start the hiring process for a planned Q1 hire. If a new hire is in your plans for Q1 of 2024, the time to start the hiring process is now! Our Managing Partner, Doug De Almo, has identified four key reasons why now is the perfect time to launch a search for an employee to start in Q1.

The first and simplest reason is the length of time it takes to conduct a proper search. The hiring process can vary drastically depending on how each company operates. Even if you consider your hiring process speedy, the best time to start a search is still now.

Second, during the holidays many candidates take the time to reflect upon the past year. Reflection allows candidates to think about their accomplishments and gives them the opportunity to assess what comes next in their professional career. We often find that the best candidates are not actively looking, and this is the best time to get access to them.

Third, most companies are now entering bonus season. Bonuses are generally paid out towards the end of the year or in February or March in the new year. Typically, if a candidate leaves their role before the bonus is paid, they forfeit that compensation. Since these bonuses will be paid out soon there is no better time for a candidate to make a job change or at least entertain an interview. It would be beneficial to start conversations with candidates now so potential candidates can make a move after receiving their current bonus.

The final reason to begin a search now is that during the holiday season people are generally less busy with their current job. Beginning the search now gives search firms enough time to speak with candidates and get them started on the interviewing process before their busy work schedules ramp up in January. This allows search firms and potential candidates to cultivate interest in one another.

By starting now, you can get a head start on next year’s important objectives. Beginning the search now will allow your candidate of choice to start early into the new year, giving them ample time to be a productive member of your organization.

Douglas De Almo

Managing Partner

ddealmo@ricecohen.com

Michael Daigle

Senior Researcher

mdaigle@ricecohen.com

Rice Cohen International Blog

Setting Up a Search For Success

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The Value of Having an Internship Program

Does your search partner have a process for handling the resignation and counteroffer?

Looking to hire in Q1 of 2024? Here are 4 reasons why now is the time to launch a search

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