Our Approach To The Assignment
Our work is normally conducted in three phases. In Phase I, we will meet with you and other appropriate members of your organization to become acquainted with your goals and objectives, your corporate culture, the responsibilities of the position we are seeking to fill and the requirements and qualification of the successful candidate. The knowledge gained through this process enhances our ability to represent you effectively and persuasively in discussions with potential candidates.
These meetings and other documentation you provide us become integral ingredients in the preparation of a Position Specification for the search. A draft of this document will be prepared for your approval. The final version will be used in dealing with candidates and sources.
This however, is a flexible document, one that can be revised. Requirements, responsibilities or compensation may change as the assignment progresses and we learn more about the marketplace as we proceed. It remains a guide by which you and we agree to judge potential candidates.
Phase II is dedicated to research. We have a format for conducting research which we believe will lead us to the most qualified, genuinely interested candidates.
To generate the greatest number of qualified candidates, we develop a specific customized strategy and plan. We accomplish this by using our extensive database, our comprehensive research capabilities, our network of sources and our unique knowledge of the marketplace.
From this investigation of the targeted geographic areas and organizations, we will generate prospects with viable experience and credentials who will be further evaluated for the assignment.
Phase III is the actual search process. Our search procedure is designed to identify, screen, qualify and present specific individuals who meet your needs. These steps include:
Searching out and identifying candidates within specified target organizations on a regional and national scope.
Reviewing with you any internal candidates and including those individuals in the same qualification and interview process as the recruited candidates.
Accessing our extensive data base for prospects already known to us, as we have already done significant work in organization management positions
Utilizing our considerable network of executive acquaintances to suggest qualified individuals.
Preliminary screening of those individuals identified to determine the ones most worthy of further interviewing.
In-depth interviewing of screened candidates to determine their qualifications as well as their interests.
Analyzing the results of these investigations, appraising each qualified candidate against the specifications and recommending those who should meet with you.
When we jointly agree that there are candidates worth your time to interview, we will arrange appropriate meetings for you to interview those candidates. Obviously, if we discover a uniquely qualified candidate, we will present him/her as early as possible.
Prior to an offer, we conduct reference investigations and other discreet explorations of a candidate’s experience, education and personal character. Their specific accomplishments and their interpersonal skills are also carefully checked.
For all candidates under finalist consideration, we will also provide a full background investigative report, plus a psychological profile.
We assist in negotiating the terms of the offer including salary and benefits, relocation assistance, and terms and conditions of employment. A 'Letter of Employment' is then drafted and we prepare the candidate for how to handle the possibility of a counter offer.
You should note that our objective in carrying out this sequence of events is not simply one of finding reasonable candidates, but to find a person who will fit your needs particularly well.
We believe that effective and frequent communication is a critical and integral ingredient in the successful completion of a search assignment and the development of a meaningful business relationship.
Our first step in establishing an ongoing dialogue is submission of a detailed position specification. This document and discussion act as a guide and pattern by which we can both judge the qualifications of the candidates.
Status reports are sent by 5-Star Hospitality to the Client at regular intervals, the frequency of which is determined in advance - generally monthly. These reports detail the progress of the assignment, status of the candidates being considered and the next logical steps to be taken.
5-Star Hospitality will present comprehensive profiles on the best qualified candidates. These review the backgrounds of all prospects and candidates. All this is in addition to frequent telephone conversations regarding candidate status and progress of the search.
The purpose and advantage of initiating a search are twofold. First, it is a commitment on the part of both the client and the search firm to work closely together in an organized, constructive manner to fill the position with the best candidate as quickly as possible. Second, it insures the active participation of both parties, sets priorities and maintains a level of awareness and urgency needed to successfully complete the assignment.
The question of finding qualified candidates and of gaining the acceptance of offers introduces some variables that are beyond our control. Experience has shown that most Executive Search assignments can be successfully completed in approximately 8-12 weeks. We will, of course, strive for successful completion as rapidly as possible.
Traditionally, we work on a project basis with our professional fee for an Executive Search being an agreed percentage of the successful candidate’s annual compensation. Our professional fee is normally billed in two payments. One third of the fee is payable upon assignment date and the final two thirds is payable upon the successful completion of the search and start date of the candidate.
We offer a six month guarantee on our Executive Search contract, providing the original assignment has not been changed or eliminated. The replacement search will be conducted at no additional cost to the Client, except expenses. The guarantee does not apply to searches conducted on a per hour fee basis.
While not bound by any association’s by-laws, our own code of ethics and an impeccable quarter century reputation dictate that we will not recruit from any client for a period of two (2) years from the conclusion of our last assignment.
We regard as privileged information any confidential data you care to share with us, and we maintain this confidentiality in perpetuity.
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