Policies and Methodologies for Hiring Interim Executives

PMC's policies and methodologies are based on providing the best possible service at a very competitive price.

 

Interim Executive Placement is completely success based: If the client hires someone PMC sends to them, then PMC gets paid per the formula below. If we fail to find a candidate, or the client does not choose to hire anyone that we do send, then the client owes nothing, no matter how much work we may have done in our search. Our process gives the client immediate relief, and also possibly augments their search for a permanent employee (when applicable) at absolutely no risk. We only get paid upon successfully placing a candidate with a client.

Our procedure works like this:

  1. The client will be asked to sign a short (1-2 page) contract agreeing to the process described below.  Note that no monies have been committed to change hands at this point.  Once signed, a lead PMC associate will be assigned to the client.

  2. The lead PMC associate has a series of conversations with various members of the organization. The purpose will be to understand the key needs of the organization and to learn more details about the opening (responsibilities, location, why the position is open, the pay range, etc.). We also try to get a feel for the culture of the company so we can find a good fit. This is not as important for temporary employees, but we find it is still very useful.  It is not uncommon to have a series of short conversations over the first few days as we begin to narrow choices.

  3. The PMC associate will develop a short description of the assignment to be approved by the client prior to commencement of the search.  This is to ensure there is a clear understanding of the skills and qualities needed for the assignment.

  4. PMC will reach out through our network to look for suitable candidates and we will screen them to find the ones that we feel are most likely to be a good fit. We do not tell the candidates the name of the client at this point.

  5. Once qualified candidates are identified, we will forward a few selected resumes (generally without names and contact information) to the client for review, along with notes and information gained through the interview process. For those the client feels are a good fit, we will send the complete resumes and notify the applicant of the client's interest.

  6. At this point, the process turns over to the client. The client does the remainder of the interviewing and the client's HR department does any reference and/or fact checking the client feels is necessary.

  7. When the client is ready to hire, they will negotiate directly with the candidate in regards to terms. Clients should keep in mind that temporary executives are almost always more expensive on a monthly basis than long-term executives (see more on this below).

  8. Portablemanagers.com receives a fee equal to 18% of gross period salary, payable at the same time as each period paycheck to the employee. There are no credit terms.

  9. When the assignment ends, the payments to PMC end as well.

  10. If the client decides to hire the employee on a long-term basis, there is a one-time fee equal to 9% of annual salary due upon hire. The 18% per paycheck fee will end at that time.

 

Notes about hiring portable managers:

 

  • Temporary executives get fewer benefits than long-term executives (generally no stock options, bonuses, company cars, etc.) and are foregoing longer term opportunities.  As such, they normally work at a premium over standard salary.  If there is a possibility that the candidate might be converted to a full time employee, it is often best to negotiate both salary levels at time of original hire (although this is not required).
     
  • Unless otherwise specified by the client, UMR will look both inside and outside the client geographic work location to find the best candidate.  Candidates who must travel to the worksite are normally given travel expenses in addition to salary.  Our recommendation would be to set a fixed price travel allowance rather than reimburse expenses as it cuts down on misunderstandings.  UMR does not collect a fee on travel expenses/allowances and depends upon the client's integrity not to negotiate a deal which is 10% salary and 90% travel expenses.

  • Clients may specify local candidates only, but that may put a limit on the total number of candidates offered.



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