Kris Dunn at Fistful of Talent raises an interesting point: How far would you go for a $3 million annual retainer?
Dunn is referring to a recent Wall Street Journal article that tells the story of “a whale client delivered by being on the inside.”
The whale, in this case, is Regions Financial Corp. Executive-recruitment firm Fiderion Group allegedly entertained Regions executives on luxury golf vacations annually from 2002 to 2008, with former Fiderion employees shelling out more than $100,000 on Regions officials at the outings.
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The sticky matter is that federal law prohibits bank employees from accepting anything “intended to influence business decisions,” yet the retained search firm has billed Regions — its biggest customer for high-level executive searches — close to $3 million annually.
Good work if you can get it? Or is this a firm that doesn’t know where to draw the line on delivering perks to keep clients happy?