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The Process

The Lloyd Prescott companies have years of experience in conducting search assignments for our clients. Our searches are conducted on a contingency or fully retained fee basis. Our fees are paid only by our client company and are based on a formula directly tied to the total annualized compensation of the candidate. The contingency search is a most cost effective way for you to do business. We assume all the risks. If we do not find the candidate you seek, you pay no fee... You pay only for results! The retained search is used by an agreed upon placement fee of incremental payments of which a portion is paid in advance as a retainer. Typically, a Retained Search will require extensive interfacing between the executive recruiter, client and candidates. The decision to work with one or the other ultimately hinges upon the urgency to fill a position or the difficulty of the search. Therefore, retained fee and contingency fee methods each bring certain advantages to particular kinds of executive searches.

If one of our candidates does not meet with your approval, upon our notification, you will receive an immediate response to providing you a candidate who will meet your expectations. We operate our firm with long term goals and look forward to serving you now and in the future.

Each search assignment starts by offering to the client current and active candidates from within the profession, business or industry that is your specialty. We identify these candidates from ongoing search assignments and then proceed to actively search on your behalf. This is done by the following steps:

1) We approach your assignment by defining your needs. Before beginning your search, we do our homework! Your account executive will update their knowledge of your profession, business or industry, your facility and the community in which the candidate will be located. A definition of the position and the necessary qualities, professional skills and experience levels desired.

2) A profile description of the position will be based on the information developed and a position description is then prepared. The position description will contain the detailed profile against which each executive candidate is measured. Additionally, we will make an assessment of the personality type that would best match your organization's culture.

3) Now we begin the search. The account executive prepares a plan for their team to identify the universe of possible candidates from a vast network of resources. We consult with key executives in and out of your industry and confer with colleagues and contacts nationwide. We review our own files to identify candidates who will meet your specifications. We solicit prime candidates who are not actively seeking a new position. Being discrete protects the identities of our clients and candidates, where appropriate. This approach enables us to tap a broad pool of successfully employed executives and professionals who are concerned about protecting their current position.

4) Screening and Recruitment. The account executive develops the strategy of the search and screens potential candidates after examining the information developed by research and contacts. Candidates who appear qualified and express interest are then interviewed in-depth. We actively sell candidates on the opportunity your organization offers and only candidates with a high level of interest are pursued and recruited.

5) The account executive will then select from those best qualified for the position. An assessment is made of the candidate's chemistry and management style as well as an evaluation of more tangible credentials. A written presentation is prepared on each of the selected candidates to be presented to the client. This presentation contains factual information as well as the account executives assessment of the candidate's qualifications and chemical fit with the client. After discussing the candidate with the client, the account executive makes complete arrangements for the client to meet the candidates and at the clients request will assist in making the ultimate selection.

After the selection is made, the account executive will most likely participate in employment negotiations with the prospective employee. As a third party with considerable experience in such negotiations, the account executive can be most instrumental in the conclusion and final agreement of the offer.

6) References: At the request of our client, we will speak with each of the candidate's colleagues and former employers to determine management style and skills. In our experience, people asked for references generally respond more candidly to us than to prospective employers. As a result, we can give the client a more accurate evaluation of the candidate. We especially seek comments from supervisors and professional peers on the candidate's potential fit with your organization. We will verify academic qualifications, professional licenses and certifications.

7) The account executive follows up to ensure that the new executive is performing well and that the client continues to be satisfied with the results of our work. We also stay in touch with the successful candidates to assist them in the adjustment to their new situation.

The Lloyd Prescott organization guarantees confidentiality. We deal with candidates who are almost exclusively employed and therefore respect their confidentiality as well.

We take your business as seriously as you do. Our candidates represent the most placeable candidates as opposed to the least placeable. We base our candidate assessment on the following criteria:

The Background, Credentials and Experience are derived from our in-house screening and research. The candidate's dynamics are assessed on the following five points: Motivation, Enthusiasm, Cooperativeness, Assertiveness and being a Self-Starter.

Our assessments are based on personal contacts with our candidates who generally represent the following profile: