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Retained Search Invoicing Techniques
Retained Search Invoicing Techniques
Learn the best practices for tracking your invoices in Loxo
Mara Green avatar
Written by Mara Green
Updated over a week ago

As a Retained Executive Search firm, payments are typically paid in three installments.

  1. First, when the contract is signed

  2. Then, when a shortlist of candidates is created

  3. Lastly, once the role has been filed and everything is now closed

In Loxo, within the job pipeline, when a candidate is placed into the hired stage we generate just one placement card to track the details. So, for users working in a Retained Executive Search environment, we recommend creating two additional candidate placeholder profiles to capture the additional two payments:

  1. One for the first retainer (contract signed)

  2. Then a second profile for the second retainer (shortlist creation)

The third and final payment will generate once the candidate is finally hired! This placement will live on the candidate's profile. Payment placeholder profiles can be labeled to represent the installment it is representing.

For example, if I am running a retained search for Apple's CEO I will have three profiles for this search:

  1. The first profile is named "First Retainer" and I will place this profile in the hired stage for this job pipeline and populate and fill in the placement card to track this first retainer once I have accepted this search:

  2. The second profile is named "Second Retainer", again this profile will also live in the job pipeline and go into the hired stage so that I can generate and fill in the placement card to track the second retainer once it has been received:

  3. The third profile will not be a mock profile, but it will be the actual candidate profile that we end up hiring once this search is complete and the candidate has been placed into the hired stage. The placement card will be generated and filled out and will represent the third and final retainer!

Once these placement cards are completed they will be stored in the Contracts/Placements report and will be easily identifiable for future reference thanks to the titles. Now you can easily track this data in your Bookings report!

For any other questions on this workflow please reach out to

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