Pierre Coupet

I need the wisdom of the crowd, however, before I begin,  it's  important that I give you a quick overview of my background so we can keep our comments focused on the question itself.

I have over 28 years of recruitment experience---15 years as a third-party recruiter and 13 as a corporate recruiter. Wanted to make sure everyone understood I am not a newbie.

So let me get started with my question:  

Our organization VOMI is currently recruiting for over 240 senior and middle management level positions (sales, marketing, human resources, web development, etc.)  for 2009 and I was approached by a recruiting firm who offered to find us the candidates we need based on the following terms:  

1.  For each placement made, the agency would charge the CANDIDATE a fee of 10% of their first month salary. 

2.  The agency would make available to us a copy of a  signed agreement from the candidate which irrevocably authorizes their new employer to withhold the agreed upon 10% of their first month salary and pay it directly to the employment agency. 

3.  Our only requirement is that we would need to agree, prior to receiving any candidate referrals, to make payment of the fee [withheld from the candidate's paycheck] directly to the employment agency in the event we hire the candidate.  

4.  Payment of the fee is due within 45 days of placement. 

5.  Agency provides a 30 day guarantee.  If candidate does not last for at least 30 days on the job, then no fee will be withheld from the employee's paycheck and therefore none is due to the agency.    

As a veteran recruiter, I see plenty of pluses and minuses given the current state of the [global] economy.  However, I will refrain from giving my opinion at the present so it will not prejudice the pool of available ideas and opinions on this subject.

My question is:  

With respect to the above aforementioned, what is the wisdom of the crowd?   

Kind regards,

Pierre Coupet
Founder, CEO & Doctor of Virtual Organization Management
Virtual Organization Management Institute
http://www.virtualorganizationinstitute.com