Reinventing the retained executive search experience.
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 Executive Search reevaluated the search model and its cost structure, enhanced the process where possible, and created a tiered flat-fee structure (based on the role's anticipated "all-in" comp level) 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. Importantly, regardless of the final candidate offer, the client never pays more than 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, etc.), they will be discussed up front and itemized on the invoice.
We will always lead with integrity, and 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 within the past two years of collaboration. Furthermore, we will never recruit any candidate from a company if we were responsible for placing that candidate.