Retained recruitment really is the way to go:

Why you need to consider partnering with a recruiter on a retained basis instead of the contingent route.

If you’ve decided to commence an external search of the market to bring fresh talent into your business you will have various options in terms of recruitment solutions, the most common of which being the contingent (aka ‘success only’) approach.

Take a moment to consider the variety of advantages available to you simply by engaging with a recruitment partner on a retained basis.?

Commitment, focus, incentivized

First and foremost, it is worth taking a moment to think about just how little the contingent approach incentivizes your recruitment partner, a partner who is fighting over a small pool of talent with numerous other companies.

When working on a contingent basis the recruiters focus is 100% on speed, they have no choice. The race is on to see who can get the candidate’s CV into the client first.

Do they dare take the time needed to undertake an extensive and detailed discussion with their candidate, or are they far too worried about a competitor beating them to it?

Do they take the time to tap some passive candidates on the shoulder and ask if they’d like to discuss an exciting new opportunity over coffee? Or do they just contact the active candidates who are nigh on desperate for a new role?

The retained approach, which is an exclusive arrangement, incentivizes your recruitment partner, allowing them to do what they do best, and to do it thoroughly. You now have the undivided attention of your recruitment partner, their focus, and their total commitment.

Speed to hire

They say many hands often make light work, but when it comes to recruitment nothing could be further from the truth, and more often than not the retained approach will result in a much faster hiring process.

A retained assignment becomes a priority for any recruitment company, and whilst their focus is now on quality (rather than speed), the targeted nature of the search will result in a streamlined candidate selection and evaluation process.

And given we’re talking about speed and time, a hiring company should also consider how much easier it would be working with a single partner, rather than managing a multitude of messages and updates coming in from multiple partners.

Broad pool of talent

Arguably the key difference to your recruiter is the time the retained solution affords them to do their job properly, thoroughly, and without the need to cut corners simply with a view to being the first to present a candidate or candidates.

They are able to sell the opportunity to a broader and more diverse range of candidates. It stands to reason some of the most suitable candidates in the market will not be looking for another opportunity and these ‘passive’ candidates are those who take time to consider making a move, but your recruiter now has the time to engage with them.

As a result the search is much broader and ultimately means your recruiter has had the time to connect and talk to a far higher number of potential candidates, not simply active candidates, thus increasing both the long list, though more importantly, the short list of suitably aligned candidates.

Thorough/detailed candidate evaluations

The retained approach gives your recruiter the time and space they need to conduct in-depth interviews, gathering all relevant associated information in the process. They have the time needed to revisit any question marks, and/or any areas of concern before making a final decision on suitability and alignment to what their client is seeking in a candidate.

As such they can present thorough and detailed candidate evaluations with all the relevant information any self-respecting hiring company will want, indeed need to understand about the candidate(s).

Partner with an expert

Your retained recruitment partner is your strategic partner, your market expert, and they will act as an advisor through the process, with a commitment to remain alongside from cradle to grave.

They will have market intel and insights across a range of issues and can advise and guide you on industry trends, salary benchmarking and best practices, after all this is their job, this is what they are doing every day of the week.

Forging a collaborative partnership with your recruitment company will ensure informed decisions are made and long-term hiring success is achieved.

The dedicated focus, access to a wide talent pool, comprehensive candidate evaluation, faster time-to-hire, and strategic partnership provided by retained recruiters contribute to a more targeted, efficient, and successful hiring process.

By partnering with a retained recruiter, companies can benefit from their expertise, industry knowledge, and commitment to delivering top-quality candidates.

In summary

?·?????? Dedicated commitment and focus, an incentivised partner

·?????? Access to a much broader range of talent

·?????? Speed to hire maximised

·?????? Thorough/detailed candidate evaluation reports

·?????? Single message/voice in the market

·?????? Single recruitment partner for you to manage

·?????? Benefit from the market expertise and local knowledge of a strategic partner.

?The difference?

The only other difference to you is that your recruitment partner will be asking for a % of the estimated fee in advance, but think about what you’re getting for that.

Your recruitment partner is going to put notable time and effort into this, and by taking the retained approach you have incentivized them to do so properly.

They now own the problem, you can concentrate on your day job.

The author

I am a seasoned recruiter specialising in senior/executive leadership level assignments in the BPO/shared services/outsourcing industry in the Philippines. I come with a wealth of knowledge and expertise, a deep network, and a thorough process driven approach to my work that has been warmly received by both my clients and my candidates.

You would be most welcome to contact me [email protected]