How We Conduct Business:
Our business is professional direct marketing, client-side representation, as opposed to contingency candidate brokering. We work on business development and recruiting assignments for client companies who need professional representation. We represent clients who are interested in having us source companies and people they need to grow their business. On our recruiting side, we also help them interview and hire the most experienced and talented candidates in their industry. Working under a Retained or Contract Search agreement, the Client receives a right of first refusal on all business opportunities or candidates who are identified during that search. If the Client is not interested in a particular candidate, we are then free to present that candidate to other companies at our discretion.
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Our Fee Structure:
Our fees are generally based on two components - active client-side representation and successfully completed assignments for specific sourcing of business opportunities that might include investors, venture partners, and staffing as specific permanent or contract employees. When clients retain us, or hire us on contract, they want performance within a specified time period. This requires us to commit our time and resources to them exclusively on a daily basis. Contract Search for business development and Contract Search for recruiting, as committed client projects, both require an initial investment because time and material costs are associated with starting up and conducting any search assignment.
Generally, Retained or Contract Search pricing works as follows:
► Business Development Retained Search - An agreed upon success payment is our final fee. We require a retainer to start the project and bill monthly against an open invoice. After completion we bill the balance due. Business Development Retained Search is performed for companies looking for investment partners, joint ventures, strategic alliance partners and other business development services. We work until we complete the assignment successfully.
► Retained Recruiting Search - An agreed upon percentage of a candidate’s annual compensation as our final fee. We require a retainer to start the project and bill monthly against an open invoice. After placement we bill the balance due on the start date of a successful hire. Retained Search is usually reserved for time critical situations, a sudden important vacancy, the need to work confidentially to replace someone, or the Client has identified specific individuals they want us to attract for them. We guarantee right of first refusal for the Client on all candidates identified. We work until we complete the assignment successfully.
► Contract Recruiting Search - We designate a block of time daily to represent your company on a variety of open positions. Our assignment is to fill as many of these as possible, within the contract period. We require an initial deposit; the amount is dependent upon a variety of specifics tailored to your situation. We charge a flat rate success fee for completed placements.
► Contingency Placement - We present candidates to companies we have strong relationships with, where we recognize a candidate’s potential for strong career growth. We make recommendations to candidates and if interested, we contact these companies who have positions available that fit the candidate’s skills and background. No initial deposit is required but the candidates are submitted at our discretion. The contingency fee is only due upon start date of a successful hire.
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Guarantees We Offer:
We offer warranties on candidates only based upon the working relationship with the Client Company. Generally these run 30 days for unconditional replacement if a candidate leaves or must be terminated. We will warrant candidates longer only on a prorated fee basis and only based upon strong relationship with a client company. We also offer extended payment for a surcharge that effectively extends our usual warranty up to 180 days on a case-by-case basis.
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Average Completion Time On A Search Assignment:
We generally allow 30-60 days to produce finalists for a Retained Search, or Contract Search, for either business opportunities or staffing. If we are getting limited interest from our marketing efforts on behalf of a client for either business opportunities or candidates on a position we are recruiting for, we will engage the Client Company in discussions early on to debug the process. Contract Recruiting generally moves at a faster clip due to multiple positions offered. On a contingency basis, the amount of time to fill positions is strictly hit-or-miss. We are under no specific obligation to fill the positions and do not specifically represent any particular client. It is very much: “If the shoe fits, wear it.”
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