Retained vs. Contingent Search
- The Client's View
"A retained recruiter does not have the same financial interest in the placement, as does a contingent recruiter, so therefore can more objectively represent the candidate's best interest as well as the clients'. The best fit is the goal, not closing the deal."
Retained Search Services
- Always an exclusive arrangement. Candidate management is handled by the search consultant.
- Search firm works on very few searches at any one time, and therefore devotes substantial effort to each clients' search.
- Intensive, focused research of related industries, companies, and individuals is undertaken to locate appropriate candidates.
- All candidates are thoroughly interviewed to the specific position competencies and referenced by the search consultant.
- Educational credentials are verified and references are contacted.
- Client sees only the top few candidates after thorough screening and in-person interviewing by search consultant.
- Search consultant continues to work on the search until a successful placement is achieved.
- Standard fee is paid in installments based on key search progress milestones.
Contingent Search Services
- Usually not an exclusive engagement; may have multiple contingent firms working on the search.
- Search firm must deal in higher volume to survive.
- Original research, specific to the position or industry, is usually not done for each new position.
- Client receives many resumes; client handles finer screening, interviewing and overall candidate management.
- Resumes received may be sent to multiple employers.
- Resumes received tend to be more generic; face-to-face interviewing by search consultant for each assignment is not customary.
- No fee is paid until placement is made.
Advantages of Working with a Retained Search Firm
"Retained Search is structured to provide more of a consulting relationship with both the corporate client and the candidate. A search consultant is able to spend more time with each candidate throughout the interview, negotiation and acceptance stages, facilitating the candidate's and the hiring company's decisions."
- Candidate is more thoroughly informed throughout the process.
- Candidate receives position specifications.
- Interviews with search consultant are specific to the competencies and critical success factors for the specific position and company.
- Candidate is able to get his/her questions addressed before interviewing with the company and is therefore well prepared.
- The candidate's "fit" for the position is thoroughly assessed prior to introducing the candidate to the hiring company, resulting in less risk that both the candidate and the client (hiring company) will be investing time in a non-productive process.