Our fees are structured differently than most search firms. We operate on a “success basis” with a modest retainer up front. Most retained firms charge their entire fee regardless of success. Contingency firms charge no retainer, but are often hoping to “get lucky” with an in-house candidate. Without financial commitment, they are unable to devote the time and resources that a search merits. We strike a balance. To initiate a search, we charge a S$10,000 upfront retainer to cover our out-of-pocket expense, and limit our exposure given the tremendous amount of time and resources that go into a search. In return we are able to offer our undivided attention and dedication to the search, and have a strong financial incentive to produce. Upon offer and acceptance, flat fee schedule applies. The $10,000 retainer gets credited towards the placement fee.
1) The fee for executive search is done on a flat fee basis. The amount will be agreed at the beginning of the search.
2) Billing: The employer will be billed for the placement when there is
an offer and acceptance. All fees are to be paid in Singapore dollars.
3) Terms: Net 30 days.
4) Guarantee: Providing our client respects the terms of payment as outlined in our Schedule of Fees—payment within 30 days of offer and acceptance—we guarantee that: if our candidate, for any reason whatever, terminates or is terminated from employment within one year from date of commencement of employment, then McGregor Stevens will use its best efforts to find an equally attractive replacement candidate (as long as it’s the same function) with no fee for the replacement search.