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Frequently Asked Questions
When working with Thacher Executive Search, LLC. you can expect frequent communication and a consistent, transparent search process. Below are some questions that are frequently asked in initial discussions with potential clients:
How do you actively recruit candidates?
Successfully recruiting qualified candidates takes a combination of good contacts, ingenuity, hard work and salesmanship. Part of the reason this firm was founded was the belief that senior participation in the process is critical. Specifically, Thacher Executive Search, LLC. actively recruits candidates in three ways:
- An extensive network of personal contacts used as primary sources of referrals for potential candidates.
- Identification of companies that have comparable and/or relevant characteristics for each search; executives that are in identical or similar positions at those companies are contacted either through existing networks or strategic cold-calls.
- Identification of potential candidates through their professional network; for example, a senior executive may be known by investors and/or board members in an industry.
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How do you keep us up to date on the status of the search?
The more involved you are, the more expeditiously the search will proceed. Thacher Executive Search, LLC. tailors communications with you in whatever format or schedule that works for you and defines a process up front to ensure effective communication throughout. For example, you can be kept up to date via weekly conference calls, in-person meetings and/or written email status reports.
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How do you evaluate candidates?
This question could easily take pages and pages to answer, but at its core there are two primary considerations in evaluating candidates: relevant work experience and fit.
When evaluating each candidate's most relevant work experience, the candidate is asked to articulate why he or she has been successful in similar business situations, asking open-ended questions like:
- What was the business situation when you arrived at the company or assumed responsibility for that particular business?
- What was your thought process, and what was the plan of action that you recommended after reviewing that problem or opportunity?
- What were the results your plan produced?
When evaluating candidates for fit, it's more relevant to ask about his or her experience in terms of both work environments and people/professional relationships that have worked the best for him or her (as well as ones that have not worked so well).
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Which companies are on your "off limits" list?
Very few; Thacher Executive Search, LLC. can recruit virtually anywhere.
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How long do you estimate the search process will take from start to finish?
The search process will take approximately 90-120 days, assuming that you are available to respond quickly to information requests, schedule interviews, provide prompt candidate feedback, etc. The goal is to have a signed offer letter from your leading candidate within 90-120 days. This is consistent with past experience and is an important point of differentiation between Thacher Executive Search, LLC. and many other firms.
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Who will be responsible for conducting the search?
Adam Thacher. While Thacher Executive Search, LLC. uses researchers to identify an initial target list of companies and candidates, when a candidate with strong potential is identified, Adam takes over the candidate relationship. Adam will initially talk with the candidate on the phone, and will always meet with him or her in person unless geographic constraints or travel challenges make that impossible.
How do you estimate the candidate's total compensation in terms of salary and bonus?
Compensation is determined by the market, the candidate's experience, revenues of his or her current employer, and the perceived risk/reward tradeoff of the position. For example, if candidates perceive the likelihood of obtaining a bonus to be low, they may ask for a higher base salary.
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What is your fee structure and schedule, including expenses?
Search fees are 33% of the annual base salary and bonus opportunity offered to the candidate. The only other charges will be for travel and direct interview expenses, e.g., taking a candidate for a meal, etc. In rare cases, there may also be a charge for mutually agreed upon research.
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What about your service after completion of the search?
Thacher Executive Search, LLC. will assist the candidate through the transition process, and will check in with both you and the candidate after he or she has been on board for 30 days, and again after 90 days. Adam will also have a conversation with the candidate before he or she starts the new position to help in planning a successful transition to a new work environment.
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How do you control your search load?
In order to ensure the highest level of client satisfaction, Thacher Executive Search, LLC. typically carries no more than three to four searches at a time.
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What is the firm's guarantee?
One year.
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We provide direct personal involvement from start to finish.
We believe getting the fit right between candidates and your culture is critical.
We're experienced and proven in many industries.
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