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Christian & Timbers First Executive Search Firm To Audit and Publish Placement Rate; Firm Announces 2005 Audited Placement Rate of 79%; Highlights the

Christian & Timbers First Executive Search Firm To Audit and Publish Placement Rate; Firm Announces 2005 Audited Placement Rate of 79%; Highlights the Need for Industry To Improve Performance and Transparency

NEW YORK --(Business Wire)-- March 2, 2006 -- Christian & Timbers, the executive search firm committed to performance, quality and results, today became the first firm to release an audited executive search placement rate. The firm announced a 79 percent placement rate for 2005. The CPA firm of Hausser + Taylor LLC audited the results. Christian & Timbers services multinational companies from the Fortune 500, NASDAQ, FTSE 100, CAC 40, and DAX.

The search industry has few published standards for success. Executive recruitment firms historically have not reported actual placement results, opting to discuss "completions" which present a higher success rate than placements. "Completions" include unsuccessful searches which were closed and moved off the books due to a variety of reasons, including client cancellation. As defined in Hausser + Taylor's report, a placement is "when the client has chosen a candidate who is placed in the role, whether from an outside hire or an internal promotion."

David Lord, founder of the Executive Search Information Exchange (www.davidlord.com), a research and discussion group for heads of executive recruiting from leading corporations, said, "It's been difficult until now to have an intelligent conversation about success rates in executive recruiting, because there's been no agreement on a definition of success. Christian & Timbers has taken a bold step toward having this conversation by defining success and measuring its work accordingly. More focus on measuring success will lead to better overall results."

Brian Sullivan, chairman and CEO noted, "Increased transparency is needed in our industry to empower clients to make informed decisions when choosing a search firm. Christian & Timbers is putting its commitment to performance, quality and results on the line beginning with these audited results. Clients initiate searches for one reason, to get the best possible executive to fill their needs. Hopefully, highlighting placement results will move the entire industry forward, which will increase the overall use of executive search as a strategic consulting service."

To continually improve performance and results takes the right appropriation of resources. Christian & Timbers allocates its resources toward producing search results. More than 50 percent of the fee from each search is allocated to the search execution team. According to Lord, "other leading firms typically pay their consultant 60% to win the search and 40% to execute. Therefore, it is more profitable to originate business than to make a placement."

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1 comment:

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