New to the Retained Executive search process or perhaps new to KMR? We are sure you have questions on how the process works! We’ve identified some Frequently Asked Questions (FAQs) below. Of course, if you didn’t find what you are looking for, don’t hesitate to contact us!
Looking for answers?
FAQs...Because you might be curious!
What level positions does KMR work on?
We get this question a lot, and the answer is “It depends!” We aren’t held to a strict salary level or title when we accept new clients. We base the decision on “Is KMR the right fit for this company?” We can tell you that firms will typically bring on a retained search firm when salaries are $100,000 and above.
What is my role as the employer during the search process?
A perfect marriage for us is working with a client who is committed to hiring into their culture. They give us access to decision makers and give us the time to interact with their staff and really get to know what makes them tick. Although we handle the search process completely from beginning to end, we do need to spend time with key people within your company.
Who will be conducting the search?
Unlike many executive search firms, at KMR we do not hand off the execution of a search to a junior employee. For every client engagement, a principal of KMR will conduct all phases of the search process – from candidate research through compensation negotiation. We believe that this is has significant positive impact on the quality and effectiveness of the search.
What is the difference between Retained Search & Contingent Search?
Glad you asked! Retained search is just as the name states – we are retained by the client to be the exclusive search firm, and for that we are paid a retainer up front to start the process. So all of the “in-house” recruiting stops as do ads on various job posting sites. We handle it all for you. Contingent search is different as they are often an add-on to in house endeavors and are paid upon the position in question being filled.
Can we track the status of the search?
Absolutely. We want to keep you informed and involved in the search process. KMR provides regularly scheduled written updates based upon our client’s requirements. You determine when these updates are provided and to whom they are sent. Additionally, KMR will provide you with login access to our executive search management system, allowing you and your associates real-time access to candidate information and search status.
What is the Fee Structure?
KMR is a Retained Executive Search firm. We are paid a percentage of the candidates first year cash compensation which includes base salary and any anticipated bonuses. We typically are reimbursed with a third upon signing our agreement with the client, a third once we present candidates for interviews and the final third when the candidate is hired.
Are there additional administrative fees?
No. Unlike other retained search firms which may assess an additional charge of 10-12% for items such as research tools, communication systems, postage, and printing, KMR does not charge our clients an administrative fee in addition to our professional fee.
Does KMR guarantee a candidate placement?
Yes. KMR stands behind our work by guaranteeing the successful placement of an executive introduced to your organization for a period of one-year, commencing from his/her date of hire. If a candidate voluntarily leaves or is released by the company for performance-related issues during the first twelve months of his/her employment, we will conduct the search to replace the individual at no additional fee, charging expenses only.