THE BONDMORAN WAY
A SIMPLE SOLUTION
Although every recruitment partnership that we form is bespoke and we offer various additional consultancy services, (ask about our free workshops!), we have broken our recruitment approach into three main structures.
• Retained Light
• Fully Retained
With ALL of the above routes, we consult and offer a range of support that involves a market-leading approach, smart technology, expertise and clear, regular communication.
We do not charge any more for our Retained or Retained-Light offering, and as with our approach from day one, we operate at a flat percentage of 20% which does not increase with salary.
We discuss each situation before recommending our suggested solution, as different scenarios will clearly require different solutions and there is no ‘one size fits all’ approach.
The main difference with our retained offerings are the time investment in sourcing, qualifying, meeting potential applicants (face-to-face where possible), the level of pro-active headhunting and sourcing of ‘passive’ candidates including the use of advanced methods, stronger advertising mediums, the level of brand management that we carry out etc.
This is the traditional method used for transaction recruitment
This approach involves a database search (both ours and numerous, relevant additional ‘CV boards’), tapping into our network and securing referrals, advertising in a number of relevant job boards and social media with well structured, appealing adverts, ALL applicants receiving responses with long-listed candidates receiving telephone interviews, short-listed candidates being video interviewed (unless previously met), a final short-list being provided, interview management, offer management and on-going consultancy including our ‘touchpoint plan’ to minimise counter-offers and such challenges.
There are numerous other techniques and areas of consultancy included that apply to all of our approaches.
Where the recruitment is for a more senior, confidential or niche skill-set role, we generally tend to operate a fully Retained or Retained Light approach.
This approach is often used when a role is confidential, senior and/or niche skills are required, or when industry knowledge or experience are required. Given this, the time investment required to provide a high service to all involved is obviously far greater.
Our retained solution involves a great deal of additional sourcing This includes identifying target companies and sectors and actively approaching relevant candidates, face-to-face meetings to discuss the opportunity with potential applicants, and as a result we provide greater interview notes/profiles.
We also offer an extended guarantee period to 14 weeks as we feel that there is a greater onus on us to work with you on suitability. To this end, we assist with planning inductions and also have an advanced aftercare plan that involves a full 360 review after twelve months. We carry out 8 and 26 week meetings, and whilst there is a nominal cost for the 360 process after 12 months, we charge cost price for the consultant (i.e. there’s no profit element for BondMoran).
Given that candidates often need to sign NDA’s, we manage the entire confidentiality process which can be especially important with candidates who have been unsuccessful as they often become less guarded. We also monitor and report on the brand engagement of the applicants who have been through the interview process, something that has proven to be highly valuable, especially where they operate at a senior level within the same sector.
Again, there are other benefits, however these are some of the key differences between a contingent and retained solution:
The payment structure is typically 30% of the anticipated fee on instruction
20% upon the start of second interviews (thereby proving we have sources suitable applicants)
The final 50% (with any relevant adjustments) is paid upon completion.
Therefore our fee is weighted on success, (unlike traditional retainers where the structure is three equal charges with the second being issued on production of a short-list). As candidates at the senior level often have 3 month notice periods, we invest a good deal of time into ensuring that the process runs smoothly and communicate will all involved at length throughout this period. We also arrange social ‘get togethers’ to ensure engagement is maintained throughout.
Most consultancies will offer the above options. However, we felt that there was a gap for senior, niche or confidential recruits, where the relevant candidates are not in as short supply as they might be when opting for a fully retained campaign.
Although it may sound cliché, it’s essential for us to act as a partner and a true extension of our client’s business, for the benefit of both parties. We obviously need to commit to each other to ensure this happens. You require a consultancy who will actually consult and represent your business in the same manner as you/your team would, and we need to be confident that the process is a productive use of the time and knowledge that we always invest.
Therefore Retained Light was born!
Invariably, we offer most of the retained process however we don’t work to a staged payment schedule.
We operate on an initial charge of 25% of the anticipated fee to be paid upfront, and the balance is paid upon completion. There are also no cancellation fees.
As with our fully retained offering, we offer you a greater level of protection with our Retained Light approach as there’s more onus on us sharing the responsibility than we would have with a standard database search. Therefore there is an 10 week guarantee period.
We’d love to develop our partnership with you, share our experience, knowledge and be part of your success.
Let us know if you are happy to meet to discuss the market, provide advice or even just shoot the breeze!
In line with our transparent approach, we are happy to have our charges and some key points visible
- Everything we do for our clients is with the aim of building a long-term relationship and not simply about a one-off placement. To ensure that is the case, our advice and consultancy side is always free.
Flat Rate Fees
- We charge a flat rate of annualised remuneration for permanent recruitment and offer highly competitive charges for interim assignments. Our introductory rate doesn’t increase with salary levels and whilst most agencies will do this, we have never felt this to be a fair approach. You should always receive the same, high quality service regardless of the seniority of the role.
- We offer a FREE replacement service for all permanent recruitment.