ABSTRACT

Depending on the size and scope of network, we may be casting our net too narrowly. Be careful with particularly important positions that we do not miss opportunities to reach beyond our network to bring in new talent. Typically the use of a third-party retained search is used for high-level employees such as the CEO, president, CFO, or any of our vice presidents. The search firm will likely manage the majority of the process from finding candidates to initial screenings to setting up interviews with the company. The placement fee will be negotiated, but expect between 25% and 50% of the budgeted amount of the employee’s first year salary and bonus. Some search firms do not work with startup or emerging companies. Be certain that any organization we work with has experience with emerging companies and in our industry. Hiring employees implicates a number of practical considerations from payroll and taxes to confidentiality and invention assignment.