CHARLOTTE, NC - October 31, 2023 - Creative Talent Endeavors (CTE), a retained executive search and HR advisory agency working with Fortune 500 companies and growth startups, is launching Fairantee™, an innovative algorithm that uses AI and data to allow companies to understand how much they should be paying for an executive search before they sign a contract.
“Traditional executive search firms charge the same price for a search without taking into account how difficult it is to fill the role, meaning you pay just as much for an easily sourced hire as for a more complex one,” said Kyle Samuels, CTE founder and CEO. “That model has been used to boost the profit margins of search firms for too long and is, quite simply, highway robbery. With Fairantee™, we will bring transparency to our industry for the first time and give companies actionable insight into the price of every unique hire.”
The technology behind Fairantee™ will take into account the difficulty or ease of each search assignment by measuring how factors including total compensation, location, workplace environment, and title of the role impact how much effort will be required to fill the role, and for the first time in the search industry, that data will determine a fair price for the client. Fairantee™ allows companies to get a quote for their search upfront, and keep that quote for five days as they make the best decision for their company.
Fairantee™ is available for free starting today. The quote companies receive from the tool can be used to retain CTE, but it can also be used by CEOs, and procurement and HR departments to understand more broadly what a fair price should be for an executive search.
“Businesses need to start understanding that just like in Vegas, the house always wins, and search firms are the house. A percentage-based fee structure helps firms make a fortune because they are incentivized to present the most highly paid candidate possible, to increase their income,” said Samuels. “Right now, the one-price-fits-all approach is not equitable - why should a company pay thousands of dollars more than it costs to source a hire? Fairantee™ won’t always be the lowest price, but it will always use real data to determine a fair price for executive search.”
To learn more about Fairantee™ and try the tool today, visit hirecte.com.
Creative Talent Endeavors (CTE) is an executive search agency and advisory firm based in Charlotte, North Carolina. CTE is Changing the Face of Talent© by creating an inclusive community for its employees and clients and has helped Fortune 500 companies such as Lowes, Yum! Brands, Kroger, Anheuser-Busch, and Chipotle, as well as high-growth startups and technology companies such as Strava and Klaviyo. Learn more at hirecte.com.