What Questions to Ask an Executive Search Firm
Before engaging an executive search firm, ask: How many searches like ours have you completed in the last 12 months? What is your average time-to-close? What percentage of your searches succeed? What does your search process look like and how often will we receive updates? What is your replacement guarantee? The answers — and how confidently they are given — tell you more than any sales deck.
Most CEOs evaluate executive search firms on the wrong criteria: how polished the presentation is, how large the network claims to be, and how quickly they return calls. The right criteria are process rigour, track record specificity, and accountability structure. These questions surface the difference.
Due Diligence Questions: Process
| Question | What a Good Answer Looks Like |
|---|---|
| Walk me through your exact search process | A specific, step-by-step process — not generalities about 'our methodology' |
| How many searches are you running in parallel? | Fewer than 8–10 per partner; higher than this means divided attention |
| How often will you give us a status update? | Weekly — written, structured update with pipeline data |
| Who specifically will run our search? | Named partner, not 'a senior team member' |
| How do you build the candidate universe? | Specific methodology, not 'our extensive network' |
Due Diligence Questions: Track Record
| Question | What a Good Answer Looks Like |
|---|---|
| How many VP or C-suite searches have you completed in our industry in the last 12 months? | Specific number with examples they can share (with permission) |
| What is your average time-to-close? | A specific number — 30–60 days for retained search |
| What percentage of your searches succeed? | Above 85% success rate; anything lower needs explanation |
| What is your offer acceptance rate? | Above 85%; lower suggests candidate quality or process issues |
| Can you share references from clients in similar situations? | Yes, with specific names and numbers, not just testimonials |
Due Diligence Questions: Accountability
| Question | What a Good Answer Looks Like |
|---|---|
| What is your replacement guarantee? | At least 90 days; 6 months is better |
| What happens if the search takes longer than expected? | Clear escalation process, not just reassurance |
| How do you handle situations where the client changes the brief? | A defined process for brief recalibration |
| What are the payment terms and what triggers each payment? | Standard retained: 1/3 upfront, 1/3 at submission, 1/3 at placement |
Red Flags in Search Firm Responses
- Cannot give a specific average time-to-close - Claims to have placed 'hundreds' of executives but cannot share specific examples - Vague about who will run the search - Pushes back on references from past clients - Promises a candidate shortlist within 2 weeks with no explanation of how - Cannot articulate what makes a search fail and how they prevent itFrequently Asked Questions
How many search firms should I evaluate?
Evaluate 3–5 firms seriously. More than 5 becomes unwieldy; fewer than 3 limits your comparison base. The goal is to find meaningful differences in process and track record, not to build a large vendor list.
Should I ask about off-limits candidates?
Yes. Ask which companies and individuals the firm cannot approach due to off-limits agreements from prior searches. A firm that has worked extensively in your category may be off-limits from approaching your best candidates.
Is it appropriate to negotiate the fee?
Yes. Search fees are negotiable, particularly on payment structure and guarantee terms. Fee percentages (typically 20–25% of first-year comp) are less negotiable than terms.
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