Executive Search Firms
Recruiting for top talent in a competitive job market is a daunting task for employers. There are times when it may be necessary to engage the expertise of an executive search firm to help identify highly-skilled and critical talent that isn’t readily available through traditional recruitment channels. This guide provides important information regarding the requirements and the steps you need to take to get started. Additionally, you will find a list of firms (updated at least once per quarter) that have been used at Cornell in the last 24 months and their areas of focus, FAQ’s, and questions to help you evaluate potential firms.
Please note that Cornell University does not maintain a preferred vendor list for executive search firms and we strongly encourage you to conduct an independent evaluation prior to engaging with a search firm.
Requirements when Engaging an Executive Search Firm
Agreement Form
To engage an executive search firm – new or existing – the university requires that the Cornell University Search Firm Agreement form be signed by both parties and include a statement of work. A new agreement must be completed and signed before the start of each engagement. Once you have identified an executive search firm that you would like to use, send the firm a copy of our executive search firm agreement (you may be prompted to log in using your NetID).
Insurance and Supporting Documents
Procurement and Payment Services will request supporting documents and verify that all of the university’s insurance requirements have been met before the start of a new search.
Changes to the Agreement
If the executive search firm requests changes to our existing agreement, instruct them to mark-up the document using the “track changes” feature in Word and return the agreement for your review. If you are supportive of the changes, forward the marked-up document to both Debra Benson, Procurement Agent (dlb11@cornell.edu) and Sonja Baylor, Director of Talent Attraction and Recruitment (ssb8@cornell.edu) for further review. They will take the additional steps necessary to complete the review of the proposed changes, including directly contacting the executive search firm as needed, and communicating back to you. After the review has been finished, the Cornell sign-off may be completed.
Unsolicited Inquiries
Due to the nature of our business, you may receive unsolicited emails or phone calls from firms and third party employment agencies looking to do business with Cornell. It is common for the caller or the email to provide the name of an administrator as an endorsement of their services. Please direct all unsolicited requests to Sonja Baylor (ssb8@cornell.edu), Director of Talent Attraction and Recruitment, who will follow-up accordingly.
Frequently Asked Questions
We've pulled together a range of topics including common situations and examples of unique instances.
Why does Cornell require a firm to complete a new agreement for each search?
Each agreement spells out the terms, details and concessions for a specific search and minimizes misunderstandings. Also, search firms tend to have frequent changes of organization.
What additional documentation is required from the executive search firm?
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In addition to the agreement the search firm must include a statement of work that clearly reflects the following information:
- Search firm’s full name, business address, telephone number, facsimile number, and e-mail.
- Name of the principal contacts at your firm and the names of those conducting the search if different.
- Position being searched
- Start and end date (if applicable)
- Specifics of services to be provided (e.g., interviews with key Cornell personnel, interviews with candidates, candidate profiles, advertising, reference checks)
- Guarantee
- Non-Solicitation terms - the length of a prohibition on recruitment of the individual hired as well as the manager of and direct reports to that individual.
- Terms of Compensation (retained vs. contingent; direct vs. indirect expenses; payment schedule; flat fee vs. percentage, etc.)
- Affirmative Action efforts – address actions to ensure compliance with AA/EEO laws and regulations as detailed in the accompanying Cornell University- Professional Services Agreement.
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Additionally, insurance requirements are outlined within the agreement and are important given unpredictable factors, and protect the university against potential liabilities that may arise when an executive search firm acts on behalf of the university.
I keep receiving unsolicited calls and/or emails from executive search firms that I am not interested in doing business with – what can I do?
Direct all unsolicited requests to Sonja Baylor, Staffing Consultant, Office of Workforce Recruitment and Retention (ssb8@cornell.edu), who will follow-up accordingly.
Does Cornell keep a preferred vendor list for executive search firms?
No. The university does not maintain a preferred vendor list for executive search firms.
I would like to use an executive firm that I have used in the past; what steps do I take in order to get them on record?
If you want to engage with a firm and your college/unit leadership is in agreement, the executive search firm must follow the same protocol as a those currently on record and sign the Cornell University Search Firm Agreement. If they wish to amend the language in the agreement, additional review is required (detailed above) prior to the Cornell sign-off.
I think I need to use an executive search firm for a difficult-to-fill search.
Before engaging an executive search firm, be sure to check with your HR rep to make sure you’ve explored all available options.
How do I decide which firm to consider?
See the “Search Firm Evaluation and Assessment” section below.
What is the difference between a contingency firm and a retained search firm?
A contingency firm only earns a fee when the organization hires someone, whereas a retained search firm charges a fee that is to be paid regardless of the search results. Additionally, during a retained search the selected firm has exclusivity during the agreed-upon search period, whereas using a contingency search firm may involve other firms, including Cornell University recruiters.
What is the average search firm fee?
- The cost will vary depending on many factors such as the complexity of the search. Leadership and niche searches are typically at the higher end of the range. The industry average is somewhere between 25% - 35% of the new hire’s annual base salary.
- We encourage you to negotiate a flat fee based on the anticipated first year compensation. That locks in your fee and eliminates any variation based on candidate salary demands that may be referred. Many search firms may be reluctant to agree to a flat fee so this approach is not required.
Should the executive search firm conduct references on the finalist?
Typically, the answer is no. At minimum, the supervisor who will be make the final hiring decision should be the one to conduct the reference with the finalist’s current supervisor. It may be more convenient for the search firm to conduct the non-supervisory references in order to save time.
Search Firm Evaluation and Assessment
Consider these guidelines when evaluating potential search firms.
Cornell Recruitment Priorities
Remember, the recruitment and retention of a diverse workforce is a critical priority for the university. Therefore, it’s important that we do business with search firms that can help us find top talent and diversify our workforce.
Expertise
As you begin your evaluation, it is important to visit the firm’s website to get a sense of their core areas of expertise and learn more about how they engage with clients.
Initial engagement questions for executive search firms
- Have you placed anyone at Cornell before; if so, what role did you place, and who were you Cornell contacts?
- How immersed is your firm in higher education search?
- How will your firm get to know the hiring manager and the needs of the department in order to understand our unique needs?
- How many similar searches has the firm successfully completed?
- How flexible and adaptable will the firm be to the needs of my department?
- How do you view diversity?
- Does your firm have access to a varied and diverse candidate pool? How does it identify diverse candidates?
- Provide examples of searches that resulted in diverse hires.
- How does your firm access and vet candidate information?
- Does your firm get involved within client referencing?
- How does your firm present a complete picture of each potential candidate?
- Please provide 3 client references where you handled similar searches.
Client References
You should always seek to engage in discussions with the firm’s principal leaders and be sure to ask for client references for firms that are under serious consideration.
Questions for clients of executive search firms under consideration
- What type of role did they support for your organization?
- What initial steps did they take to learn about the role?
- What was their communication process?
- Did the firm provide you a complete picture of each potential candidate?
- How often did the firm update you on the status of the search?
- Where you satisfied with the quality of applicants they provided?
- Did they provide a diverse candidate slate?
- Were they flexible in their approach to meet your needs?
- Did you have experience any concerns in working with this firm?
- Would you recommend using this firm?
Key Cornell Contacts
Questions related to the completion of the executive search agreement and/or complying with the insurance requirements:
Identified Search Firms
HighEdJobs.com maintains a list of search firms that have experience conducting searches for colleges and universities. To view the list, please visit: https://www.higheredjobs.com/career/SiteListings.cfm
