What Makes a Good Executive Search Firm?
A good executive search firm has a track record of placing candidates who stay in role 18+ months, provides weekly written pipeline updates, uses passive outreach (not just their database), conducts structured reference checks, and offers a 90-day+ replacement guarantee. They will have specific examples of similar searches completed, not just claims about their network size. The size of the firm is less important than the rigor of the process and the specific partner running your search.
Most executive search firm evaluations focus on brand name, office presence, and network size claims. These are the wrong criteria. The right criteria are process rigour, track record specificity, and who specifically will run your search. A large firm with a junior partner running your search is worse than a boutique firm with a senior partner who has completed 20 similar searches.
Evaluation Criteria
| Criterion | What to Ask | Good Answer |
|---|---|---|
| Track record | How many VP/C-suite searches in our industry in 12 months? | Specific number with examples |
| Placement retention | What percentage of your placed executives stay 18+ months? | Above 80% |
| Process rigour | Walk me through your exact search process | Step-by-step with specific deliverables |
| Sourcing approach | What percentage of your shortlist is passive vs active candidates? | 60%+ passive outreach |
| Update cadence | How often will we receive pipeline updates? | Weekly, written |
| Who runs the search | Who specifically will run our search? | Named senior partner, not 'our team' |
| Guarantee | What is your replacement guarantee? | 90 days minimum; 6 months ideal |
Large Firm vs Boutique Firm
| Dimension | Large Firm (Korn Ferry, Spencer Stuart) | Boutique Firm |
|---|---|---|
| Brand credibility | Higher with boards and investors | Lower externally |
| Senior partner attention | Risk of junior staffing on your search | Higher — partner typically runs the search |
| Off-limits constraints | Higher — more client relationships | Lower — fewer off-limits candidates |
| Specialisation | Generalist with vertical practices | Often more focused domain expertise |
| Fee | Similar — both 20–25% | Similar |
The Most Important Question
Ask: 'Who specifically will run my search, and what is that person's track record?' In large firms, the senior partner presents but a junior associate runs the search. Your search is only as good as the person on the phone every day. A boutique firm where the senior partner runs every search beats a large firm where a junior associate runs yours.Frequently Asked Questions
Should I use a big-name search firm or a boutique?
For board-level searches (CEO, CFO at public companies), large firm brand credibility matters. For VP and C-suite at growth-stage companies, a boutique firm with relevant track record often outperforms a large firm where your search is a lower priority.
How many search firms should I interview before choosing?
Interview 3–5 firms. The goal is to find meaningful process differences, not to build a large vendor list. After 5 interviews, you have usually seen the full range of approaches available.
Is it a red flag if a search firm doesn't ask about my culture?
Yes. A firm that doesn't ask about company culture, team dynamics, and founder working style cannot assess cultural fit in candidates. This is a process gap that predicts lower retention rates in placed executives.
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