Retained Executive Search
This is an outside recruiting firm, hired to fill the search. Each firm offers different levels of research and pre-described client services in their efforts. Retained firms work for you on scaled fee basis; the more you pay in candidate compensation, the higher the retained fee. Typical retained firms work on executive level positions only, often Director and VP level and above.
What it Costs
Standard fees are one third of the candidate's first year's cash compensation, including any guaranteed perks and bonuses. A $150,000 position with bonus of 20%, plus $500 car allowance ($246k annual salary) would cost $62,000 in fees. A recent poll of highly regarded executive search firms with offices in the bay area, notes that minimum fees for the searches are $60-75,000. If you change direction in the search, there is usually an additional fee.
How Locke and KEY can Help:
Our associates have many years of experience in retained executive search, and we provide all of the equivalent services, with a more affordable and flexible pricing structure, and a more extensive and flexible choice of services, allowing you to change direction any time you need, with no extra charge. We also help you hire all at levels, not just executives. We have no minimum fees. Because our principals are the ones providing you with our services, we can operate more efficiently and closely with you than the larger companies.
Our full menu of services makes it easy to have your hiring needs met. We look forward to working with you!