Why Dedicated Search? (Non-Profit Finance)

Boston Hale’s non-profit finance clients are continuing to see the benefits of working with us on an exclusive basis, with the dedicated search approach becoming a tried and tested method across the sector. Equally, many organisations still opt to use agencies on a contingency basis. The main pull factor for clients using contingency recruitment is that they will have a wider pool of candidates to choose from if they use several agencies.

It is important the agency evaluates if the role is ‘fillable’ before recommending a dedicated search approach. Boston Hale will have a detailed discussion with the hiring managers before agreeing on a dedicated search to ensure it is something we are confident filling. If it isn’t, we will be honest about this or recommend changes to ensure clients expectations are in line with what is achievable. So why choose the dedicated search model?

Talent Pool
Resources to fill a dedicated search can be pre-allocated in advance. As the only agency working on the position more time can be spent with a greater emphasis on covering the entire market. It combines online and offline search strategies, targeting both active and non-active candidates. This maximises the number of candidates available and enables clients to find the best possible talent.  

Costs
It is often thought that the dedicated search approach has a higher cost, which in fact is rarely the case. The cost of a dedicated search is agreed at the beginning of the project, so clients can budget and see a breakdown of their costs. With contingency, searches fees can be more erratic with agencies working to different fees and rebate periods. Cash flow is incredibly important within the non-profit sector, therefore unexpected price increases can cause real issues.

Niche Skillsets
Many finance roles covering the non-profit sector will have niche skillset requirements.

Organisations can be under the impression that because a role is more niche, that means they need to speak to several agencies to find the right skillset. At first glance this may seem like the right option, however, this can also lead to agencies carrying out brief searches for the most obvious available candidates in a small talent pool. Often this also leads to confusion when candidates are spoken to by multiple agencies.

The benefit of a dedicated approach is you receive an in-depth market mapping of the skillset you are looking to hire within. It is estimated that only 30% of the talent pool is actively looking at any one time – this is the group of candidates that is reached during a contingency recruitment drive. If clients want a full understanding of who is out there, they should use retained search methods to reach that other 70%.

Reputation
Candidates prefer a more personal and professional approach. They are looking for discreet conversations with consultants who are an expert in the organisation they are hiring for. Having multiple calls from agencies who have not been fully briefed on a position does not give a good impression of the hiring client!

In summary, the benefits listed above clearly highlights how much value the dedicated search model can have. It allows agencies to carry out in-depth market mapping, offers transparent and fixed cost options to the client and allows for the candidates to have a better service.

If you are recruiting for finance roles within the non-profit sector and you wish to speak to Boston Hale regarding either dedicated search or contingency recruitment methods don’t hesitate to get in touch