We have established client-friendly pricing and terms
for our retained search services. Our general terms
are detailed below. If you are interested in learning
more or discussing a search opportunity with us, please
email our Client Services Team
or call us at (312) 207-1190, ext. 102.
You will provide us with a complete and accurate job
description, a target compensation package, and benefits
information. You agree to make key personnel available
for candidate interviews.
Our fee for retained searches (the “Search Fee”) is
typically 33 1/3 percent of the first year targeted
compensation of the placed candidate. We offer discounted
rates if we are conducting multiple searches on your
behalf. We also offer a significant discount on your
fee if an offer is made within ten days of your conducting
The Search Fee is paid in three installments. Prior
to engaging our services, we establish an Estimated
Search Fee, based on the estimated salary. You then
remit a non-refundable retainer that is equivalent
to one-third of the Estimated Search Fee. After you
have interviewed one or more candidates, you remit
a second non-refundable third of the Estimated Search
Fee. The final non-refundable payment, due upon acceptance
of an employment offer by a candidate, shall be the
difference between the Search Fee, less any discounts,
and the amounts remitted to date.
In addition to the Search Fee, you will reimburse
Grand Roads for reasonable expenses associated with
the search. Expense detail will be provided on a monthly
basis and is payable on receipt. Expenses will include
such items as travel, food, lodging, long distance
telephone calls, and background checks. We shall undertake
certain expenses, such as travel, only if pre-authorized
For a period of 120 days (€The Exclusive Period”),
you agree not to give the assignment to another executive
search firm. If, during the course of the Exclusive
Period, you hire a candidate on your own or from another
source, then you will be obligated to pay Grand Roads
the full Search Fee. The Exclusive Period commences
when you have signed the Executive Search Agreement,
made the first retainer payment, and instructed Grand
Roads Executive Search to begin the search. If necessary,
at the end of the Exclusive Period, it can extended.
Your satisfaction is guaranteed. For a period of six
months after the candidate's start date, Grand Roads
Executive Search guarantees that the candidate you
hire will not voluntarily terminate employment or
be terminated for reasonable cause. In the unlikely
event that the candidate quits or is terminated for
cause, Grand Roads will repeat the entire search process
with no additional Search Fee (except for continued
reimbursement of reasonable expenses). This guarantee
is contingent on timely payment of fees in accordance
with the terms of our agreement and notification within
ten business days of employee termination.
Many search firms will agree not to recruit employees
they have placed with you for a period of one year.
We take this a step further. We will not actively
or inactively recruit any of your employees for a
period of two years (following the employment date
of the last executive recruited by you as a result
of our direct involvement). This includes employees
at any subsidiary, affiliate or related company.
Additional Fee Triggers
If the search is not completed during the Exclusive
Period and you subsequently hire a candidate that
we presented to you (within two years of the date
we advised you of the candidate's availability), you
shall remit a payment equal to the difference between
the Search Fee, less any discounts, and the amounts
remitted to date. In addition, should you hire one
or more of our candidates for a different position
(within two years of the date we advised you of the
candidate's availability), you agree to pay us the
Search Fee for each of those positions upon acceptance
of your employment offer by the candidate.
The Performance Guarantee is your exclusvie remedy.
You will not be entitled to any refund of fees or
reimbursed expenses. Grand Roads shall not be liable
for any compensatory, or other, damages resulting
from employment of the candidate.