Week one: intake, scorecard, and the compensation reality check
The client, a regional manufacturer with 120 employees, called about a controller search after their long-time finance lead announced retirement. The intake kicked off with the CEO and HR director, who outlined core requirements: a CPA credential, prior manufacturing experience, and comfort working hands-on in a plant setting. They wanted someone who could modernize reporting and help with a future ERP rollout. The recruiter led a discussion to define must-have technical skills and core leadership traits for the scorecard.
Early in the intake, compensation came up. The client imagined finding a controller "for what we paid the last one, plus a bit." The recruiter shared current market data from comparable searches, highlighting that a candidate with both manufacturing depth and CPA certification now commanded significantly more. Together, they built a scorecard that weighed both technical and leadership competencies, and set a compensation range that would not chase away viable prospects. The client was surprised, but agreed to the reality check. A retained fee structure, with one-third upfront, was signed by Friday.
Keep reading: Where Fractional and Interim Placements Fit in a Search Firm's Revenue
Week two: mapping target companies and building the long list
With the scorecard set, the research phase began. The recruiter mapped out a list of regional manufacturing firms in adjacent sectors, aiming for companies with similar size and complexity. They built a long list of potential candidates: current controllers, senior accountants, and a few finance managers ready to move up. Most came from personal network, LinkedIn, and industry associations. The team paid close attention to signs of stability, tenure, repeated promotions, and references from known contacts.
At the same time, the recruiter worked up a candidate brief to send to potential prospects. This included the company's story, the leadership team's reputation, and the scope of the role. The recruiter's assistant began discreet outreach, aiming for exploratory phone calls. By week's end, a long list of thirty-two candidates was compiled, with a mix of passive and active talent. The client received a redacted list for review and confirmed the target company list matched their expectations.
Week three: the calibration slate and what the client's reaction changed
Selecting the calibration slate
From the thirty-two long-list names, five were selected for a "calibration slate." These candidates represented a spectrum, one with deep plant finance but no CPA, one with public accounting roots, a promoted-up controller from a smaller plant, and two who had both operations and technical finance experience. The recruiter set up introductory phone screens to gauge both interest and fit.
Client feedback and course correction
The recruiter and client met for a calibration review. The client gravitated toward candidates with clear succession experience and the ability to run a lean team. They were less interested in candidates with heavy public company backgrounds, worried about cultural fit and hands-on skills. The client also realized they preferred candidates who had led ERP implementations, which had not been a must-have in the original scorecard. As a result, the recruiter adjusted the search strategy, giving more weight to candidates with hands-on systems experience and a track record of process improvement.
Keep reading: The Client Intake Call Checklist: 21 Questions Before Sourcing
Week four: full interviews, the reference plan, and one withdrawal
Panel interviews and practical questions
With the search refocused, the recruiter advanced four candidates to structured interviews with the CEO, HR, and the outgoing controller. Each candidate was sent a prep sheet outlining the interview process, the format, and the team's expectations. Panel interviews included situational questions and a discussion about prior systems upgrades. The client's team scored candidates independently, then held a debrief to compare impressions.
Reference plan and the surprise withdrawal
After interviews, the recruiter reached out for preliminary references, mostly informal checks with past colleagues or supervisors to confirm timeline and scope of work. One candidate, who had seemed enthusiastic, withdrew after receiving an internal promotion at their current company. The recruiter communicated this quickly to the client and slotted in an alternate from the long list. By Friday, two finalists were identified, pending formal reference checks and a deeper compensation discussion.
Week five: finalist debrief and the compensation negotiation
Comparing finalists
The client and recruiter reviewed the two finalist profiles. One brought deeper manufacturing experience, but the other had led a similar ERP transition. The company debated which competency mattered more for the next two years. The recruiter facilitated a structured debrief, pointing back to the scorecard and the adjusted requirements from week three. Ultimately, the client leaned toward the candidate with systems experience, given their upcoming technology overhaul.
Negotiating the offer
The recruiter led the compensation negotiation, setting clear expectations with both client and candidate. The candidate's ask was at the high end of the agreed range, citing recent offers in the market and the complexity of the role. The client was reluctant to go above midpoint, but the recruiter walked them through current market realities, including rising base salaries for manufacturing controllers. After some back and forth, the client agreed to a slightly higher base, with a performance-based bonus structure and a start date in four weeks, following a standard background check and reference confirmations.
See how ShortlistLoop handles this for recruiting
Week six: offer, resignation, and a counteroffer that did not land
The formal offer was presented, and the candidate accepted within two days. The recruiter helped the candidate prepare for their resignation, including a checklist of talking points, a transition plan, and advice on how to handle a potential counteroffer. As expected, the candidate's employer put forward a counteroffer, proposing a new title and a retention bonus. The recruiter checked in daily, offering support but also reinforcing the reasons the candidate originally decided to make a move. The candidate remained committed and signed the acceptance paperwork by the end of the week. The recruiter helped coordinate onboarding details and kept the client informed throughout the final steps.
Where the hours went, and how the fee was structured
Time investment across the process
The search ran just over six weeks, with the recruiter and assistant tracking time spent on each phase. Week one involved heavy intake prep and market research. Mapping companies, generating the long list, and initial outreach took up most of week two and three, with many hours spent on calls and crafting pitch messages. Interview coordination and panel prep dominated week four. By week five, the focus shifted to reference checks, finalist debriefs, and compensation planning. The final week required daily communication with the finalist, the client, and reference sources.
The most labor-intensive steps were long list research and candidate outreach, which accounted for about half the total hours. Interview coordination and feedback capture also took significant time, as did reference calls. The recruiter logged all communication and feedback for transparency with the client.
Fee structure
The retained fee followed a common structure: one-third at the start, one-third upon presentation of the initial slate, and one-third at offer acceptance. This structure kept both parties committed to the process and helped the recruiter dedicate significant up-front time to sourcing and vetting the slate. The client appreciated the predictability and the sense of partnership it created, rather than a contingent search dynamic.
Three process changes the firm made after the search closed
- Earlier compensation alignment: The recruiter now insists on reviewing current market compensation ranges during the intake, not after the scorecard is built, to avoid mismatched expectations.
- More deliberate calibration slate feedback: The firm formalized a process for the client to score each calibration slate candidate against the scorecard, ensuring feedback is specific and actionable. This reduced "gut feel" reactions and helped refine the search criteria sooner.
- Live shortlist tracking and feedback: During the search, email threads proved cumbersome for sharing candidate progress and capturing interview feedback. The firm adopted a client-facing live shortlist tool with real-time stage tracking and structured comment capture. This change improved transparency, kept everyone aligned, and reduced missed updates.
Each of these adjustments helped the firm shorten the cycle time and improve candidate experience on future searches. For boutique recruiters managing retained executive search, a shared live shortlist with stage tracking and feedback capture can make the process clearer for clients and keep placements on track.
