How to choose an executive search firm
Updated: Oct 1
A practical guide for CEOs, CHROs and boards.
A senior appointment shapes business performance and the leadership team for years. The executive search firm you choose influences which leaders you meet, how thoroughly they are assessed and the advice behind your decision.
Comparing firms means evaluating the adviser’s understanding of your business, relevant experience, access to candidates and the quality of their recommendations, alongside clear commercial terms.
When do you need retained executive search?
Retained executive search supports senior appointments such as:
Succession to a founder or long-serving CEO.
A confidential executive replacement.
Leadership changes during growth, restructuring or an acquisition.
Appointments requiring scarce experience or regulatory acceptance.
The evaluation of an internal successor alongside external candidates.
The adviser helps define what the appointment must achieve, identifies and approaches relevant leaders—including those not seeking a move—and assesses their suitability.
A CV or online profile presents the candidate’s own account of their career. Executive search examines what they personally achieved and under what conditions, using interviews and references to support the recommendation.
What should the adviser understand before approaching candidates?
The first discussion establishes why the appointment is needed and what the new leader must accomplish. Growing sales, reducing costs and integrating an acquired business can require different people, even when the job title is identical.
The adviser turns that discussion into a recommendation: which experience matters, what authority the person will need, where suitable leaders can be found and whether the compensation matches the responsibility. Findings from the market also inform any recommended changes to the brief.
In a Menity search for a CEE Operations Director following M&A, the initial brief focused on a group-level profile. We recommended prioritising hands-on experience managing production teams on the factory floor. The revised profile changed the shortlist, and the client appointed a candidate who would not have qualified under the original brief.
The person leading your assignment therefore matters as much as the firm’s name. Comparable work and client references help establish their experience of advising on similar business situations.
Track record figures need a clear basis too. A mandate is an assignment to conduct a search; an appointment is the hiring outcome. Relevant figures distinguish between the firm’s overall record and the assignments personally led by your adviser.
Which candidates can the firm approach?
Access to relevant leaders depends on both the firm’s reach and its existing commitments.
Off-limits commitments restrict whom a firm can approach, often because of client relationships or previous placements. The implications for your search depend on which organisations are excluded, for how long, and whether restrictions apply across the firm or only to certain offices.
Competing searches can also create a conflict if two clients need the same candidates. Disclosure before the assignment begins makes these restrictions visible and explains how the firm will manage them.
Where experienced executives are concentrated among a small number of employers, these restrictions can materially affect the search. For a CEE appointment, cross-border reach also matters when relevant leaders are based in neighbouring countries.
How will the firm assess candidates?
Assessment examines what candidates personally achieved, the conditions in which they worked and how that experience relates to your business.
For example, managing an established operation with strong central support differs from integrating newly acquired plants. Interviews and agreed references explore the decisions the candidate made, the resources available and the results they were responsible for.
For an internal successor, the adviser assesses readiness for the new responsibilities, gaps in experience and the support they would need. Comparing that assessment with external candidates shows where promotion offers the stronger option and where the business would benefit from experience brought in from outside.
The recommendation explains each candidate’s strengths, limitations, motivation and unresolved questions. An anonymised assessment report can show how the firm documents its findings and supports its advice.
In a Menity CTO search for a European aviation operator, we checked regulatory eligibility before presenting the shortlist. Four of the five shortlisted candidates already held nominated-person status elsewhere, and the remaining candidate’s eligibility was confirmed before the final interviews. This allowed the client to compare candidates whose regulatory eligibility had already been checked, before committing to an appointment.
How long does executive search take, and what does it cost?
At Menity, most CEO and C-level searches take approximately 8–12 weeks from the confirmed brief to the final hiring decision. Timing depends on the role, geographic scope, candidate availability and the client’s decision timetable. Notice periods affect the start date separately.
Menity’s retained fees are typically around one-third of the appointed executive’s annual compensation, with a minimum fee applying. The proposal defines the compensation included in the calculation, the scope of work and the payment schedule before the search begins.
What should the proposal make clear?
A clear proposal identifies the responsible adviser, scope, deliverables, timetable and reporting arrangements. The AESC Client Bill of Rights provides a useful reference.
It also explains when the client will receive market feedback and how changes to the brief, compensation or timetable will be handled. For a confidential replacement, it defines who may know about the search and when the employer’s identity can be disclosed.
Commercial terms specify the included assessments and references, expenses, payment dates and arrangements for pausing, changing or cancelling the assignment.
Replacement terms define the covered period, exclusions and any additional costs. The proposal also sets out what support continues after the executive joins.
Questions to ask at the first meeting
What would you need to understand about our business before starting the search?
Who will personally lead the work, and what comparable searches have they delivered?
Which parts of the candidate market are off-limits?
What evidence and risks will accompany each shortlisted candidate?
How will you report progress and address problems?
What does the fee cover, and what happens if the search changes or the appointment ends early?
At Menity, every search is led by Vladimír Janík or Peter Nemčok, our Co-Founders and Managing Partners. The responsible partner works with the client to define the role, approaches selected leaders and remains involved in assessment and the final appointment, supported by our research team.
We work exclusively on a retained basis. Our fees, timelines and replacement terms are explained in Fees, Timelines & FAQs.
About the Author
Vladimír Janík is Co-Founder & Managing Partner of Menity. Since 2007, he has led more than 300 retained mandates. Previously, he served as HR Director during the HVB Bank–UniCredit integration. He holds a master’s degree in military aviation operations and advises on senior appointments across CEE, including aviation and financial services.
Further Reading
About Menity. Menity is a partner-led retained executive search and CEO & Board Advisory firm founded in 2007. We work with CEOs, boards, and owners on CEO, Board, and C-level appointments across CEE, with selected cross-border mandates into DACH and the UK.
