Engagement Fee Recruiting Projects
We work with many firms that need quality talent, need to hire quickly but don't have internal recruiting capacity. Quite often, their Human Resources staff may be Generalists who cover all HR issues, and don't specialize in talent acquisition alone. We work with companies that need to compete for the most in-demand talent, but can't afford to pay premium recruiting fees. They also may not have enough recruiting activity to justify a volume-based discount on fees.
In other words, they want the best possible Quality, at the fastest Speed and best Price.
I don't care what business you are in: generally you can pick 2 out of those 3 options, and compromise on the third.
We've found a recruiting solution for this type of scenario.
Engagement Fee recruiting project.
By guaranteeing an agency working on an otherwise contingency (pay-for-performance) basis a partial fee on a single placement in exchange for an overall fee discount, hiring firms will get a greater commitment, and faster time-to-hire along with the usual high-quality candidates that J. Patrick provides. Essentially the Agency receives a small commitment fee to offset the discount, and to limit the downside risk of no placement occurring for reasons beyond its control.
Here's how it works:
Client identifies its crucial, time-sensitive hires that fit the agency's areas of specialization.
Agency sizes the scale and complexity of the recruiting project, and chances for placement success.
Depending on potential fees to be earned, the Agency and hiring firm will negotiate an Engagement fee, at minimum one-third of a single estimated placement fee.
Service Level Agreements (SLAs) are agreed upon. Usually this mean number of resumes submissions per contracted position.
This Engagement fee will be credited towards the first fee earned on the project.
If no placement occurs due to reasons beyond the control of the Agency (layoff, budget change, hiring freeze, hiring made through another source, etc.) then the Engagement fee will be credited to any fee, for one year.
We've had a lot of success with this recruiting model for firms on the fast track to hyper-growth. Each project is unique and the parameters can be customized to you particular circumstances.
Let us know how we can help!