Fee Structure

Dedicated (Retained) Search Service

Dedicated search is our premium recruitment service; Reid & Associates has redesigned the terms of a traditional retained search based upon feedback from our clients over the years and created our “Dedicated Search”.

Our Dedicated Search is highly recommended for time-sensitive positions, and/or those at a higher level, such as Senior to Executive management, where there are fewer qualified candidates. Our Account Executive works closely with the client to assess the needs of each organization. Retained searches take priority over all other searches, and the Account Executive carefully conducts and executes a recruiting plan that will produce results. The client is given exclusivity with each qualified candidate presented, and each candidate will have screening completed prior to the first interview. A weekly search report is provided at the close of each week, containing market feedback, number of calls, number of connects/presentations, and number of interviewees currently in our process.

There are 3 main differences from your traditional retained search when compared with our Dedicated Search, and these are found in the contract/terms, not the approach and application of resources:

Traditional Retained Search

  1. During the search, should the perfect match walk through your door or apply online on their own or via an internal referral, you would still owe the retained firm the balance of the fee if you hired that person.

  2. The client pays for the process, and the results of the hire are not guaranteed. For example, the firm may find the top 2 candidates in the area and present those to you, but if they are not an exact fit for you following a full interview, you pay the remaining balance to the firm and still have a vacancy.

  3. With your traditional retained search, 1/3 is due upfront, 1/3 upon presentation of the shortlist (top 2-3 candidates), and the final 1/3 payable upon hire or final interviews EVEN IF no hire is made from that group

vs.

Our Dedicated Search

  1. With our Dedicated Search, the client is open to hiring that candidate and no remaining service fee required.

  2. With our Dedicated Search, we would expand the search and work to present another 2-3 top candidates for consideration, and continue on that path until you are satisfied you have the right match and have made a hire.

  3. 1/3 is due upfront, and the remaining 2/3 is due only if you hire a candidate presented by us.

Fees

Requires 1/3 start-up fee (based on candidate's first year compensation) to initiate the recruitment process. When a placement is made from a candidate we presented, the client pays the final 2/3 fee within 10 days from the candidate's start date. We provide a 90 day full replacement warranty & the industry's only 100% Satisfaction Guarantee.

Contingent Search Service

Contingency search requires no up-front fee to initiate a search. This is a commitment-free alternative when a priority or retained search may not be appropriate. It's successful when there is a lower urgency in the client’s hiring needs. The Account Executives spend a portion of their time conducting searches. Each qualified candidate can be presented to other clients simultaneously. A reference check can be completed if requested. There are no guarantees to the number of candidates presented.

Fees

The client agrees to pay the total invoice upon placement. We provide a 30-day replacement guarantee. The service charge is 30% of the first year's compensation.

Interim / Temporary Leadership Placement

Every company has experienced the loss of a Leader and in today's market, it is unfortunately a frequent occurrence. Some costs created by a vacancy can be clearly seen early on, such as decreases in productivity or recruitment expenses, while others are not so visible and are often not apparent until months or years later, such as loss of market share. In most cases, especially for Senior Leadership positions, the one vacancy can snowball out of control, impacting recruitment and retention numbers for other positions associated with the vacancy, and further driving costs.

Interim Leaders have become a proven strategy to fill the gap created by a vacancy and to turn that vacancy into an opportunity for improvement, and bring about a return on your investment. An Interim Leader can bring viewpoints and best practices from some of the top hospitals in the Nation, and leverage those experiences along with their leadership style to be a stabilizing force during a time of transition. This helps to maintain recruitment and retention, as well as perform operational assessments to identify areas for change, resulting in improvements in outcomes and financials.

Fees

Reid & Associates offers flexible terms including employer of record services, a company of record services, corp to corp, and 1099 contractors.

Recruitment Process Outsourcing (RPO)

RPO is for our clients with a multitude of critical and time-sensitive openings. A search expert is assigned to you and their time and resources are dedicated solely to your recruitment needs. We take on program management, ensure process excellence, provide a process for continuous assessment, performance improvement, as well as technical systems and data management. A weekly search report is provided at the close of each week, containing market feedback, number of calls, number of connects/presentations, and number of interviewees currently in our process.

Fees

Requires start-up fee to initiate the RPO process, monthly Administrative fee, and placement fee(s) due within 10 days from candidate's start date(s). We provide a 30-day replacement warranty.