Executive research firms and sourcing firms

These firms are the new hybrid firms in the recruitment world able to combine the research aspects (discovering passive candidates) of recruiting and combine them with the ability to make hires for their clients. These firms provide competitive passive candidate intelligence to support companies' recruiting efforts. Normally they will generate varying degrees of candidate information from those people currently engaged in the position a company is looking to fill. These firms usually charge a daily rate or fixed rate. Many times this uncovers names that cannot be found with other methods and will allow internal recruiters the ability to focus their efforts solely on recruiting.

Executive Research began as an extension of ‘headhunting’ or ‘executive search’ businesses. Initially used to support advertising strategies, executive research quickly overshadowed advertisements as a much more focused and successful alternative.

The ability of researchers to pinpoint top talent – passive or otherwise – gave the headhunting businesses a much higher success rate and quicker turnaround time, especially with the harder to fill vacancies.

Soon the gap in the market became apparent, and executive research moved away from ‘in-house’ to a more main stream market, although still remaining ‘behind the scenes’ in the recruitment industry.

More recently, the economic downturn has forced businesses to review their recruitment practices that have resulted in them working directly with the research firms. By removing the ‘middleman’ businesses have direct access to much more cost-effective solutions, and have been able to retain a firmer grasp on their recruitment drives and processes. Business also have access to full disclosure on market intelligence which has proven to be vital for more forward thinking businesses, especially with regards to succession planning

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