Why use a Retainer?
Retained search is not appropriate to all recruitment, especially where the skills or experience required is common in the market and you have a high expectation of candidate interest for the role.
So when should you use Retained Search?
- When the role is critical to your business interests and not getting the right person will have a severe impact on your ability to make money or save money, where the reputation of the business is at stake or even when the role is required to save the business.
- When you need to be able to predict when you will get the new hire to make ongoing plans for your business.
- Senior management positions, these roles are almost always critical.
- There are usually only a handful of senior managers who are actively available so in order to ensure that the market has been suitably explored it is necessary to make direct contact with sufficient number to ensure you get the right person for your business.
- Where the skills or experience required are in high demand and short supply in the Market, this is when you are targeting very specific skills or experience, perhaps in a new technology area or where there is a strong market trend toward a type of technology or solution (for example the current trend toward Cloud Services).
- When the reputation of your business would be adversely impacted by the apparent cheapening of the search, this can occur when multiple recruiters call the same candidates time after time. Retained and Exclusive searches ensure a methodical and controlled access to the market.
In short when you simply cannot afford to take a chance on getting the right person and where you need to be able to make firm plans for this person in your business.
As an important part of selecting retained business is to be as certain as possible you will make the hire you need for your business and be able to predict when this will happen. To you this confidence we offer a strong guarantee on the retainer agreement. Antal’s offer is that we will refund 125% of the retainer if we fail to deliver, against the requirement as compensation for wasting time. What Antal will deliver and the time scales will be agreed for each assignment, (as described above).
The guarantee is only valid if the retainer is fully paid within 14 days of the retainer invoice and if up to that point the client has fully followed Antal’s recruitment process as indicated in this proposal.
Contingency Search – This can be either exclusive or non-exclusive
When to use contingency search
- When you are looking to fill multiple roles with the same or similar function, ie volume recruitment.
- For less senior roles where the skills required are commonly available on the market
- When you can expect a suitably large active response to the position
- When you want to maintain an ongoing market watch for a specific role in your business (see below for more on this).
What Contingency search cannot provide:
The nature of contingency search is that the client business will only pay for candidates who are successfully placed into their business and they often engage multiple recruitment businesses. Therefore there is no guarantee from the client that the any one recruitment business will be paid for the work they do to perform the search.
Because there is inherently more risk for the recruitment business then there is a requirement for them to mitigate this risk by ensuring that they have a high volume of business so as to increase the chances of success.
Candidates sourced for one role can and will often be presented for other business the recruitment business is working at the time. Therefore there is no exclusivity of candidates.
Prioritisation of work will inevitably be given to the assignments with the greatest chance of success.
This often results in an initial high level of activity which then drops away as the recruitment business ensures that their best candidates are passed quickly to the client so as to avoid losing out to competition, this activity level then drops away as the recruitment business prioritises other areas.
Because there is no guaranteed fee there can be no guarantee of delivery, whilst we will make our best efforts to supply at least two or three high quality, qualified and motivated candidates for each assignment, these efforts will be set against higher priority business and as we will not knowingly offer candidates forward that are inappropriate to the role, we cannot commit to delivering any candidates.
Advantages of Contingency search:
By going out to two or three agencies with the search requirement there will be a rapid response ensuring that the active market place is explored quickly.
Specialist niche recruiters will often be working with a number of relevant candidates and may well be able to supply highly skilled candidates in short time that are not commonly available. Many of these candidates will have been worked for retained search but were not right for that search so these candidates can be made available to wider market.
Many of the candidates will be immediately available on the market and therefore can be in place quickly.
Contingency recruitment is often a cheaper option to retained search, but beware of buying on price alone, cheap recruiters are cheap for a reason.
Contingency search process
Much of our process for contingency search is the same as for Retained search with the following exceptions.
- Requirements capture will often be conducted by phone or video, whilst face to face is always better time and volume can preclude this. However there is still a need to take a full job order and not just work off a job description.
- Initiation and Candidate engagement; each of our consultants are specialist niche recruiters maintaining a high level of contact with top achievers in their niche market. In this way our consultants maintain ready pool of quality candidates that can be matched against your contingency requirements quickly. Often these candidates are passive candidates sourced for retained search assignments and therefore not available to the active market.
- Reference checks are not taken as a matter of course.
- Individual McQuaig psychometric profiling can be provided for each candidate at additional cost. (This is provided as standard for retained search)
- In addition we can also include a full job profiling which is provided at the same cost as for retained search.
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