Part of reinventing the retained executive search experience goes beyond enhancements such as the integrated behavioral assessments and interviews to the standard fee structure used by most firms. While retained search fees have historically been set at one-third of the candidate's total anticipated first-year compensation, no one has given a rational explanation as to why.
In our desire to be industry leaders, Maitland Partners reevaluated the search model and its cost structure, enhanced the process where we could, and created a Tiered Flat-Fee structure that meets our clients' needs—while protecting them from unanticipated costs when the "right" candidate requires a higher compensation plan than anticipated.
Maitland Partners works on a performance-based retainer. Our initial invoice (1/3 of the fee) is due when the Engagement Letter is signed, the second invoice is issued only after the client has interviewed three candidates, and the final invoice is issued when the candidate accepts the offer. Regardless of what the final candidate offer is, the client never pays more then the initially negotiated fee.
One additional differentiator of Maitland Partners is that we bill only actual/approved expenses. Many firms have monthly "general expense" charges that can amount to thousands of dollars in addition to the fee. While Maitland Partners acknowledges there are circumstances that create expenses billable to the client (travel, video conferencing, etc.), they will be discussed up front and itemized on the invoice.
While we always lead with integrity, we feel it is worthwhile to put two guarantees in writing.
While we pride ourselves in assisting our clients in making the right choice, should a candidate leave or be terminated within one year of the completion of the search, we will recruit another candidate for no additional fee.
We will never recruit any candidate from a client company if we have worked with that company in the past two years. Additionally, we will never recruit any candidate from a company if we placed that candidate.