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Contingency Search

November 20, 2017

Description

This is an outside recruiting firm, hired to fill the search. Each firm offers minimal levels of research and client services in their efforts, but most of what they offer is to send resumes to you that they find in databases. It is difficult to gauge or control the level of service you receive, because the firm is not being paid until after they make a placement. Typically, you do not receive detailed status updates or market data, or in-depth transcribed interview reports.

What it Costs

Contingency firms work for you on a commissioned basis; the higher the position's salary, the higher the contingency fee. Fees vary among firms, but range from 20-33% of the candidate's first year's compensation. A $100,000 position may cost $20-33,000 in fees. You do not pay the fee until the candidate has been in your employ for 60-90 days. If, at any time, you feel that you are not seeing the types of resumes you hoped, or you feel that you are not being provided with the level of service you expected, you may cancel the contract, at no cost to you.

How Locke and KEY can Help:

We will aid you in working with the contingency firm; we do not compete with them, but rather aid you in hiring the candidates they have presented to you. Most contingency firms do not provide in-depth interviews or detailed records of market data, or of their search efforts, or in-depth references.

  • We will perform in-depth telephone interviews with the top five (or number of your choosing) candidates from the resumes presented to you. You will have input to the list of questions asked, and you will receive a transcription of the interview with evaluation comments. You will almost feel as if you were sitting in on the interview!
  • We will conduct a face-to-face interview with the very few best candidates from the phone interviews, and we will do this at your office, in your presence. You sit in on the interview, and you can be as active or passive as you like; all you have to do is pay attention to the responses, and not worry about anything else.
  • We will conduct thorough transcribed references and a background check, verify credentials, discuss and negotiate compensation with the chosen candidate and present the offer.

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