If you’re looking for help with your executive search in the USA, Canada, or elsewhere globally, you’ve landed on the right page. If you are hoping to learn more about the retained executive search process or retained search fees, you are also in the right place!
As a Managing Partner at Boyden Executive Search, I have 25+ years of experience in retained executive search. So, I will first help you understand the standard process a retained executive search has at my firm, Boyden, which is one of the easier to understand and less complicated in the industry, and the standard fees in a retained search.
What is a Retained Executive Search?
Retained Executive Search is an executive search carried out by executive search consultants, who charge an upfront retainer sum to carry out the search for your business. In most cases, this is accomplished through the use of an exclusive agreement such that the search firm is the only one allowed to conduct the search.
You need to be smart with the search firm you select, as many smaller retained search firms specialize in specific roles in niche industries. This can be beneficial for filling a single role; however, their capacity to do more significant searches with multiple positions in complex businesses or to help build entire leadership teams will be limited. That is why many of our clients at Boyden rely on us. With teams specialized in all industries across our 75 global offices, we can be relied on whatever your next business or role may be, as we have an expert in that field on hand.
Finding a search firm to partner with you is prudent because as your relationship grows, your partnered retained search firm will understand your needs better and will be able to find you better talent faster as they get to know you better. Want to learn more? Read what does a search firm do? Or learn about the executive search process.
What is the Retained Executive Search Fee Structure?
Retained search firms normally charge 33-38% of 1st-year compensation or a flat fee. The compensation normally includes the projected salary and bonuses of the position. Expenses for the purpose of travelling to interview candidates are charged separately. Some of the larger retained search firms also charge an administrative fee of 10-15% to save the time and costs associated will invoicing individually for these items.
Other Search Firm Fee Structures:
Contingent search firms’ fees – it’s standard for contingency search firms to charge roughly 20-30% of the candidate’s first-year salary. ‘Contingent’ search means they only get paid once the search is complete and the position is filled. These agreements are rarely exclusive and often compete with the company’s internal team to fill the positions.
Hybrid (Container) Search Firm Fees – contingency firms typically charge an initial retainer of around 8-12 thousand dollars, as well as 20-25% of First Year Salary on filling the position. Search firms following this model also usually work exclusively to be the only people filling the position.
Retained Executive Search In the USA
Looking for a retained executive search firm in the USA? or a US-based search firm that offers a range of services for businesses in the USA or elsewhere in the world to establish a new team or office in the USA? Please contact me. Based in the USA, I have filled over 400+ positions for businesses. Helping local US businesses and assisting foreign companies in establishing entire teams in the United States. I can also connect you to the best person at Boyden to serve your personal business needs.
Contact a Search firm in the USA: CONTACT NOW
Retained Executive Search in Canada
Looking for a retained executive search firm in Canada? or a Canadian search firm that offers a range of services for businesses in Canada or elsewhere in the world to establish a new team or office in Canada? Please contact me. Being a Canadian citizen and having lived in Canada for a large portion of my life, I understand the nuances of recruiting talent in Canada. I have filled over 400+ positions for businesses. Helping local Canadian businesses and assisting foreign companies in establishing entire teams in Canada.
Contact a Search firm in Canada: CONTACT NOW
I also have access to my complete network at Boyden and our 75 global offices. With my help, I can connect you to the search consultant or team in our firm in your regional Boyden office, who will best help you achieve your executive search goals.