Schedule of Client Services
LyonsHeart International provides executive search and recruitment services under the three following alternatives;
Retained Search
Retained Searches are negotiated individually, and employ a unique discovery process in developing a contract.
The primary advantage to a Retained Search is that it guarantees your company that a position will be filled with the very best available candidate within a specified period of time. This option will provide your company with a dedicated team of researchers who contact every potentially qualified candidate to discuss your opportunity, as well as seasoned Consultants who then screen the available pool of talent and interview them to determine their ultimate fit with your company.
Retained Search tends to be best for the most senior-level positions, mission-critical positions, and confidential searches.
Typically, LyonsHeart International retained searches are contracted under one-time advanced payment of $5K to $10K against a total fee of 25% of the successful candidate's first year total compensation
Contingency Search
Using Contingency Search, no fees will be charged to the client until a placement is made. Our fees for contingency recruitment services range from 20% to 25% of the successful candidate's first year compensation. Under certain contingency agreements, LyonsHeart International will only engage under an exclusive relationship.
There are several obvious advantages that this offers our clients:
1) Contingency Search allows for open competition among search firms, and can thereby result in a broader selection of candidates from which to choose.
2) Up-front costs are lower, as there are no fees to initiate a search.
As most hiring professionals know, however, there can be problems and pitfalls associated with Contingency work as well:
1) If the search becomes protracted or difficult, many Contingency firms can simply stop submitting candidates and focus their attention elsewhere. The company cannot expect or demand performance.
2) Many Contingency firms don’t offer significant pre-screening services; if a candidate has the necessary qualifications, they are immediately presented to prevent another firm from presenting them first. This “race for the SEND button” can waste a client company’s time.
3) Managing a Contingency Search can be difficult, time-consuming and risky.
4) And finally, when recruiters call potential candidates, they become (in effect) the agent of your company; whatever presentation or representation they make will affect the way that your company is perceived in the broader market.
LyonsHeart International tries to maximize the advantage of Contingency Search for our clients, and minimize its problems. We spend longer with the client taking a job order, and only submit candidates that are a true fit for the job – the whole job. As for sticking with a client through tough searches, we are happiest when we’ve built a relationship with a repeat client – if they tell us they really need our help, we’ll see it through. And there are many Contingency Searches we’ve worked with clients who use us exclusively, minimizing their exposure and management difficulties.
In general, we find that Contingency Search is often most effective for placing lower and mid-level positions – usually entry-level through middle management. The exceptions to this would be extremely technical or hard-to-fill positions, as well as senior management.
Contract Search
LyonsHeart International developed Contract Search to help solve some of the staffing requirements of Start-up companies and clients in a phase of rapid growth & expansion. Essentially, it involves several simultaneously conducted Contingency Searches that are supported by a small monthly retainer.
When a company has five or more hard-to-fill openings, they need a firm that will make a plan for recruiting from all of their preset targets, learn more detail about the relevant technologies involved, and fill most if not all of those positions within 3-6 months. With the payment of a monthly retainer, our client gives us the latitude to assign research assistants to this particular project. A member of our Executive Team will take the lead on the account, and will pre-screen every candidate before presentation to the client.
When placements are made, they are billed as though on Contingency Search – less any Retainers that have been paid. Because this method is carefully tailored to the client’s needs, every Contract Search is individually negotiated; however, they are predicated on our typical Contingency Fee schedule.
