Retained Search

We suggest retained search only when we genuinely believe that it is the right approach for the specific role. This would typically be for roles with a basic salary above £100,000, or for highly specialised and/or confidential jobs when we know that success will likely come from proactively headhunting rather than assume that the ideal candidates are sitting on our database or actively looking.

We take a slightly different approach to retained search.

I have long held the belief that with traditional retained search fee structures, as the client, you can have paid 66% of the overall fee without having seen or interviewed a candidate. We believe there should be much more emphasis on our ability to find you what you want.

Therefore, we structure our retained fees as follows;

25% of the fee at initial stage when we start the process,

25% after first interviews to ensure we have presented you the calibre of candidates that you want to take further through your hiring process.

50% balance is due on start date.

In that way, we believe we are sharing the risk equally with you.

The following is an example of how we approach a retained search and what to expect from us;

Scoping of the Role and Discovery Session;

In conjunction with the key stakeholders from the client, through a detailed briefing meeting or call, we will define a role profile, with a job description, cultural oversight and key competencies required. This will build the candidate profile for the search.

Proactive Search;

Working with you to identify search parameters and then using my detailed knowledge of the specialist markets I cover, including cards and payments, consumer and retail finance, professions finance, asset finance, fleet and motor finance, fintech and alternative lenders, I will identify and headhunt qualified individuals who have the skills to undertake the role.

In addition, my internal database built up over the past 20 years will be explored to underpin this search.

This search can be unrestricted geographically within the UK.

As part of the process, I will:

Work with my client to provide job descriptions, additional relevant information and any NDA’s as required.
Provide weekly updates on progress via a WIP spreadsheet and video or phone call.
Present my client with my qualified short-list of candidates, to include CV and detailed candidate summary. I propose this is done via a meeting/video call where I talk through each candidate and reason for inclusion.
Provide my client with details of all candidates approached for the role and reasons for candidates not being included on the shortlist. This will also include valuable feedback about perception of your company and role from the market.
Maintain confidentiality at all times.

Screening Process

I will commit to:

Interview all candidates before CV’s are forwarded to you. This will be face-to-face or via video where possible.
Provide a detailed candidate summary, including current remuneration package and future expectations.
Brief candidates in full on the opportunity.
If required, be present during your interviews with the candidates.
Give you timely candidate feedback post any interviews.

Closing the Assignment

In order to ensure a seamless close to the process I will also:

Maintain involvement at all stages.
Undertake to negotiate all offers on your behalf.
Manage candidate’s expectations to ensure positive closure.
Proactively manage the candidate’s resignation process and subsequent on-boarding with you.

Post Placement:

We schedule a follow up call at the end of month one and month three with both with you and with the candidate to discuss progress in the role and to ensure a seamless introduction into your company,

Process Timetable

The following is provided for guidance purposes and is based on my experience. Variances may be experienced depending on interview availability and your hiring process.

Proactive search and weekly update Weeks 1-4
Presentation of Short List End of week 4
Initial interviews Weeks 5-6
Second interviews Weeks 7-8
Offer negotiation Weeks 8-9

Fee Overview

For retained search assignments the fee is 25%. This is calculated against the successful candidate’s guaranteed first year remuneration (including golden hellos and guaranteed bonus payments).

The payment schedule for retained search assignments is structured as follows.

25% payable on commencement of assignment

25% payable after 1st interviews

50% balance payable on first day of employment

I will base the fee around an agreed expected base salary.

We have a very strong track record when using retained search having successfully completed 100% of all roles undertaken.

If you would like more information about our retained search services, please contact us on 020 3096 9802 or email steve.webster@hunterreid.com