Executive Search

Why Choose Latham Consulting Group for your Search

Medical groups know that an error in selecting the right manager can be costly and hinder or cripple an organization for years. In many instances, the group may be under severe pressure to recruit a manager yet lack time to devote to a successful effort. Often, the members of the group have limited experience with evaluating and negotiating with potential candidates.

Latham Consulting Group’s experience in the medical group industry places it in unique position to assist you with your Executive Search needs. Through our consulting services we are in constant contact with medical groups. Our experience enables us to better assist you in establishing criteria to meet your needs and then searching out the best candidates.

Using Latham Consulting Group for your Executive Search allows your physicians to focus their valuable time on the practice of medicine.

The Search Process

Latham Consulting Group provides complete and comprehensive Executive Search services to medical groups in search qualified managers.

Our service often recruits candidates who are not active in the job market but would relocate for the right opportunity.

The task of identifying and appraising well-qualified managers is painstaking and time-consuming and must be governed by an orderly approach. Our search processes include the following steps:

  1. Definition of the Assignment: We meet with your representative(s) to obtain information about your practice, the position under considerations, your hiring requirements, and compensation package.
  2. Position Specification: We then develop a written summary of our discussions and send a copy to you for review and approval to proceed.
  3. Research and Search: Using our extensive network of contacts we identify organizations where we may find qualified candidates and contact such candidates. Our initial screening activity will usually involve preliminary discussions with 30-60 candidates. We provide periodic reporting to you to keep you apprised of our progress.
  4. Evaluation: Preliminary evaluations are completed through screening telephone interviews with potential candidates. We then conduct in-depth personal interviews with the most qualified candidates in order to select the three or four individuals best suited for the position. Respecting confidentiality, we talk with references familiar with the candidate’s work performance and strengths and weaknesses.
  5. Presentation: Prior to the candidate’s interview with you, we prepare a detailed candidate profile including professional experience, personal background, compensation, and our appraisal of the candidate’s expected performance.
  6. Offer Negotiation and Follow-up: We are available, at your request, to serve as an objective intermediary during sensitive negotiations. We can assist you in developing a employment agreement letter which spells out all agreements with the candidate. Once a decision has been made, we work with both you and the chosen candidate to ensure a smooth transition.

Additional Services

In addition to the above services, we are available to assist you with:

  •  Developing a position description.
  •  Establishing evaluation criteria.
  •  Providing input on compensation packages.
  •  Structuring interview processes and questions.
  •  Developing follow-up evaluation procedures.

 Confidentiality

We do not reveal the identity of your practice until clearance is given by you. In this way, those who are not selected for final interviewing can be tactfully eliminated without reflection on your practice.

We do, however, describe your firm in general terms, and give the candidate enough information to determine both the qualification of the candidate and their real interest in the position.

Length of Assignments

The average recruiting assignment takes three to six months from the initial meeting with you until the candidate is finally selected, although searches have been completed in a much shorter timeframe. Once a new manager is selected, it may take two to four weeks before he or she actually reports to work.

Fee and Expenses

Our commitment is to work with you until a manager is hired. Our fee is one-third (33 1/3%) of the first year’s total compensation (including estimated bonus, if any) for the manager hired, plus out-of-pocket expenses.

Consulting expenses reimbursed include travel, accommodations, meals, postage, advertising, telephone charges, and any other direct costs associated with the assignment. Naturally, we will keep expenses to a minimum, consistent with achieving the objectives of the assignment.

Candidate expenses reimbursed include travel of the candidate for interviews with members of the practice.

Reimbursable expenses may run from 10 to 25 percent of the professional fee, depending on such factors as length of the assignment, location of the client and the majority of candidates, and other factors.

Invoicing Arrangements

We bill one-fourth of our fee at the commencement of the search, one-fourth at the end of the first month, one-fourth at the end of the second month, and the balance at the successful completion of the assignment. Payments are expected fifteen days after the date of the invoice.

Expenses are billed monthly and payment upon receipt.

Multiple Placements

If more than one individual is hired from the candidates presented or identified by our efforts, a professional fee of 25% of the total first year compensation for each additional person hired will be charged.

Termination

You, of course, have the right to terminate the search at any time, in which case your obligation will be for our accrued professional fees and expenses to that point.

Special Conditions

The client must advise Latham Consulting Group of any candidate who comes to its attention in order to avoid duplication of effort and to insure that each candidate is properly evaluated.

 

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