Choosing the Right Recruitment Strategy

Explore Retained, Contingent, & Fractional Methodologies

You're gearing up for organizational growth and aiming to attract top-tier talent. Have you considered which approach to recruitment makes the most sense for you and your team? Understanding the intricacies of each methodology is crucial in selecting the one that best aligns with your organizational goals. In this article, we’ll explore the fundamental principles behind retained, contingent, and fractional recruitment, illuminating why retained recruitment frequently stands out as the optimal choice for securing top-tier talent.

Retained Recruitment:?

• Retained recruitment involves a partnership between the hiring organization and a recruiting firm. In this arrangement, the recruiting firm is exclusively retained to fill a specific position or positions within the organization. A portion of the fee is typically paid upfront, with the remainder paid upon successful placement of a candidate. Retained recruiters dedicate significant time and resources to understand the client's needs, conduct comprehensive searches, and present highly qualified candidates who align with the organization's requirements and culture.?
• In this case, the recruiters are often embedded in the industry they serve and have significant depth to their networks which they leverage on behalf of their clients. This method fosters a collaborative and advisory relationship between the recruiter and the client, resulting in a focused and tailored recruitment process.

Contingent Recruitment:

• Contingent recruitment operates on a "no win, no fee" basis, meaning the recruiting firm is only compensated upon successful placement of a candidate. Unlike retained recruitment, contingent recruiters work with multiple clients simultaneously, aiming to swiftly fill numerous positions by distributing candidates across multiple clients, often pitting them against each other and creating competition. While contingent recruitment offers flexibility and cost-effectiveness, it may lead to a less thorough candidate search and a lower level of commitment from the recruiter – especially upfront –? as they prioritize filling positions where they are most likely to earn a fee.

Fractional Recruitment:

• Fractional recruitment, also known as project-based recruitment, involves hiring a recruiter on a part-time or temporary basis to assist with specific recruitment projects or tasks. Organizations may opt for fractional recruitment to supplement their internal recruitment efforts or to address short-term hiring needs without committing to a long-term engagement with a recruiting firm. Fractional recruiters typically work remotely and may specialize in certain industries or skill sets, providing expertise and support as needed.

Why is retained recruitment often considered the most strategic option among these methodologies??

Retained recruitment offers several distinct advantages:

• Exclusivity and Dedication: By retaining a recruiting firm exclusively, organizations ensure that recruiters dedicate their full attention and resources to the search. This results in a more focused and thorough candidate evaluation process, ultimately leading to higher-quality hires.
• Partnership and Collaboration: Retained recruiters function as strategic partners, working closely with the hiring organization to understand its unique needs, culture, and long-term goals. This collaborative approach enables recruiters to identify candidates who not only possess the required skills and experience but also fit seamlessly into the organization's culture and contribute to its success.
• Quality over Quantity: Retained recruitment prioritizes quality over quantity. Recruiters invest time in thoroughly vetting candidates, conducting in-depth interviews, and assessing cultural fit, ensuring that only the most qualified candidates are presented to the client. This results in a more efficient and effective recruitment process, with a higher likelihood of successful placements.

Both Hall Williams Executive Search and the gr8, our brand for all things PropTech, practice retained recruitment strategies. We offer executive search, executive coaching, organizational design services, strategic onboarding and outplacement guidance, market intelligence, and more.

Our approach hinges on authentic collaboration, transparency, and trust while consistently delivering results.?

Each facet of the recruiting process is a reflection of your brand identity. No matter which recruitment option you choose, the agency becomes an ad hoc brand ambassador for your company. Knowing an agency is retained means the hiring company takes the process seriously and trusts the agency to be an advisor, not just a recruiter. Alternatively as contingent agencies race against the clock candidates my experience a rushed vetting process that can erode the brand.

Through exclusivity, dedication, and a steadfast focus on quality, retained recruiters empower organizations to pinpoint and nurture high-potential teams that drive success and growth in a talent-constrained market. Make no mistake: contingency firms have their place in the recruitment field, particularly in positions where a client needs multiple hires of the same role. That presents a better economic opportunity for the contingency recruiter to stick it out and invest time to find candidates when multiple positions are open. If you go that route, you should at least consider some form of payment to reimburse their time and effort if you think they’re working hard. Might not be as much as a “retainer”, but let’s face it– no one likes to work for free.

Learn more about what sets us apart at Hall-Williams Executive Search and reach out to us to start a conversation.