The industry standard fee for a retained search is typically 30-33% of the hired candidate's first-year total cash compensation (base salary + guaranteed bonus). This fee is paid in three installments: one-third to initiate the search, one-third upon presentation of the candidate shortlist, and the final third upon successful completion of the search.

While timelines vary based on the complexity of the role, a typical retained search for an executive-level position takes between 90 to 120 days from the initial kickoff to the candidate's acceptance of the offer. The search firm should provide you with a detailed timeline at the beginning of the engagement.

This is a common and healthy situation. A retained search firm can and should include your internal candidate(s) in the process. They will assess them against the same rigorous criteria as external candidates. This provides an objective, third-party validation and ensures that you are truly hiring the best possible person for the role, whether internal or external.

For senior, critical, or confidential roles, a contingency model is often insufficient. Contingency recruiters work on multiple roles at once and are incentivized by speed, often presenting only active candidates. A retained firm is a dedicated partner, committed exclusively to your search, and specializes in uncovering the best passive talent who are not on the open market. The process is far more rigorous and consultative.

Confidentiality is a cornerstone of retained search. The search firm will never reveal the client's name until a candidate has been thoroughly vetted and has signed a non-disclosure agreement (NDA). This allows the client to explore the market discreetly, which is crucial when replacing an incumbent or creating a new strategic role.

Most reputable retained search firms offer a guarantee. If the candidate they place leaves or is terminated for performance-related reasons within a specified period (typically 12 months), the firm will conduct a new search for the same position for no additional professional service fee.