Types of Seaches/Fees
Contingency:
This type of search is best described as a
"pay by placement" search. It allows the company to make sure
that they have seen all there is to see before making their
hiring decision. This amount can either be a percentage of the
candidate's starting salary or a flat fee.
Partial Retainer (Mini-Retainer):
This is a hybrid of a contingency fee and a
full retainer. Typically, the company will identify a certain
number of positions to be filled and will advance a portion of
the total fee towards the front-end costs of the search. The
remaining balance will be paid upon hire or placement. This is
usually a flat fee agreement.
Mini-Retained: Partial deposit
required. This is a higher priority level placement type of
search.
Retainer:
This is the most effective search which
creates a partnership between the hiring authority and the
recruiting firm. This is like having the recruiting firm as an
extension of the hiring company's HR department. This type of
search usually creates the best communication and also has the
highest success rate.
Retained searches may be billed by a flat
monthly payment or a combination of a flat fee and a contingency
fee. |