What they were doing
The Board of Directors of the Association formed a search committee to evaluate executive search firms. They were considering utilizing traditional retained search firms, which typically would mean:
- A fee of up to 33% of the candidate’s total compensation
- A search consultant would have control of the process
However, the Vice Chair was referred to Duffy Group, Inc. and introduced to a radically different approach to search: a unique fee model, one that utilizes billable hours.
Apples to Oranges: As the search committee evaluated the two models, they realized the Duffy model allowed them to maximize their:
- Control of the search strategy (Collaboration)
- Flexibility in the process to take into account real-time changes
- Ability to collaborate on every step of the process (Partnership)
Subsequently, the search committee chose Duffy’s non-traditional, transparent and customized business model. The committee was 100% invested in the process and having some control gave them a high level of trust and confidence in the process and their ability to collaborate and form a strong partnership with Duffy.
Duffy Group strategized with the Search Committee and leveraged their industry specific network, blending cold calling techniques, with internet outreach to identify prospects. Duffy’s recruiting expertise is skilled at attracting “passive job seekers”- those individuals difficult to attract using traditional recruiting efforts.
Duffy Group contacted over 80 prospects and presented the Search Committee with a slate of ten qualified candidates. The Search Committee interviewed three candidates, and two surfaced as the best fit. Our clients quickly discovered their “champagne budget (for that A player), was closer to a sparkling cider budget”. The market intelligence highlighted in the recruiting report helped them understand the competitive nature of the market place. Thus, the Search Committee realized they needed to increase their salary budget in order to attract the right talent.