Contingency Search
30% of base salary due upon successful hire. Telephone interview with client to evaluate need and establish candidate criteria. Meet or phone interview client to develop:
- Accurate job description.
- Selling features of position and company.
- A targeted recruitment plan.
Consultants begin recruitment plan:
- Contact potential candidates already known.
- Contact network of people to source out likely prospects.
- Use extensive database to uncover new possibilities and make contact.
Potential candidates are uncovered, screened, evaluated. Present qualified candidates, as they are uncovered via phone and with resume and descriptive letter.
Communication remains close and constant throughout the interview process between all parties. During the final selection and offer stage, our input is offered and expected.
Dedicated Search
25% of base salary as final fee with an up front Deposit (deducted from final fee)
- In addition to the Contingency Search formula – one or two well experienced recruiters is assigned to the client’s particular need. Much greater time is dedicated to the particular search.
- In person meeting at client site.
Retained Search
25% of first year annual income as final fee, 1/3 up-front deposit of estimated income and 1/3 of estimated income when 3 interviews or 1 offer have occurred (deducted from final fee)- All of the above including the personal time and expertise of Scott Rollins, the owner, and one or more of the recruiters who’s experience range from 8 to 23 years. They will personally taking on very selective client searches in need of expert recruitment talent. All of their time and energy will be spent on these few search assignments (no more than 3 at a time). With over 30 years in recruiting, 20+ of which being in support of actuarial and employee benefits consulting, there is no one with greater potential for success.
The Process
Seller Driven
This is the traditional role that business brokers have worked over the years. Our client is the Seller. Our main role is to secure appropriate buyers for the operation. This is the best solution when an owner is actively looking to sell.
Buyer Driven
This turns the process on its head. We are working for the Buyer who is looking at aggressively growing their company through acquisition. We go out and research potential targets for acquisition where it would make good business sense for that company to sell for strategic purposes. Why does this process work? Growing a consulting business through traditional means is highly challenging. Quite often you are waiting around for the competitor to drop the ball, creating a weakness for you to get in for an RFP. Corporate clients can be extremely loyal to their actuaries and third party administrators, especially, in niche areas such as Public Sector or Taft-Hartley consulting. When you acquire a consulting firm or TPA, you are actually acquiring the relationships of the owner. We are looking at the selling owner staying on board long enough for an orderly transition of these relationships.
Hiring Initially
A third option may be to secure as an employee the next generation of owners to work into an equity role and carry the company forward. This has always been part of our traditional executive search process.
Fees
In all cases our contracts and fees are contingent and non-exclusive. We receive no fee unless we are the referring party bringing buyer and seller together.
Confidentiality
Confidentiality is of key importance. We understand this. You do not want word leaking out to your competitors that you are considering selling which could cost the loss of clients to these competitors. This makes it difficult for you to conduct your own sale. The advantage we have is that we can speak with quite a number of companies and no one will know who our client is until we have the right match lined up.
You may also have a limited regional coverage in terms of whom you know. We are actively working with West Coast companies moving East and East Coast companies moving west. There are quite a number of regional operations that are looking at growing and expanding into new locations, or opening new locations closer to their existing clients.
If you have questions on this topic, we would be interested in hearing from you. As with most owners being concerned about having these conversations during working hours with employees around, we can make arrangements for off-hours conversations.Jerry Krecek
Acquisitions Manager and Recruiting Consultant
krecek@scint.com
630-963-3033