When you’re in the market for a new executive, you must consider all your options. You might not have considered working with retained executive search firms. These firms can be great resources for finding top talent, but you should know a few things before you work with one.
What should I know about this?
A company retains these firms to act as its exclusive recruiters. They have access to an extensive database of potential candidates, and they identify the best talent for a particular position. The retained firm then negotiates all aspects of the hiring process on behalf of the employer, including salary, bonus, benefits, and relocation costs. Many firms also provide post-hire support services such as onboarding and transition assistance.
When working with retained executive search firms, you must understand that you will pay for their services upfront. This is known as a retainer fee and can range from 15-35% of the total compensation package offered to the candidate. In addition, retained searches typically take longer than contingency searches, as retained firms will use their contacts and resources to conduct a more thorough search process.
We hope this information has been useful to you.
