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Our Terms and Conditions
Foundation Networks offers three different approaches to the talent acquisition process. These three options are listed below:
Retained: By retaining Foundation Networks, you guarantee that you will be getting our undivided attention as we will be your exclusive recruiter on your search. In a retained search we guarantee that we will provide 4 qualified pre-screened and interviewed candidates to your search committee. This search process is best utilized for very high level placements (C-level and SVP). For this the fee is 33% of total compensation. Payment terms are 1/3rd of estimated fee due at start of search campaign, 1/3rd of the fee when 4 candidates have been identified and are in the interview process. The final 1/3rd is due when the position has been filled. Should the candidate be hired through another channel or the position be cancelled or redefined, the first 2/3rd's of the estimated fee are non-refundable.
Engagement: Have a hard to fill position and feel like your normal sources aren't giving you the quantity or quality of candidate that you seek? Engagement might be the right course for you. In an engagement search, you will get more attention to your search than in a standard contingency arrangement. In an engagement search, a non-refundable deposit of 25% of the estimated fee is paid at of the start of the search. The final 75% of the fee will be due when Foundation Networks successfully fills the position. Fees are 25% of the candidates first year starting salary. We offer a full 90 day pro-rated guarantee and payment of the final installment is due 30 days after the candidate starts work.
Contingency: Perhaps the most standard search model, contingency searches give you the most flexibility. In a contingency search you only pay for the search if Foundation Networks successfully places your candidate. The fees are 25% of first year annual salary of the hired candidate. We offer a 30 day pro-rated guarantee and payment is due in net 10 days.