Retainer or Contingent: Which type of search meets your needs? | This or That?
Hiring talent is straightforward, however, it could be a lengthy process. Our article on Talent Acquisition vs Agency gives firms like yours an idea of when to leverage the expertise of an agency. Now that you have decided that engaging an agency works best for you, which type of search is in your best interest?
*The above information is based on our 15 years of experience understanding which option works the best for our clients.
Retainer: For that perfect fit.
Hard to fill jobs, specified roles, suitable candidates are scarce
A retained search is paid in advance to the agency to conduct a search that is either confidential, a specific profile, or to simply search for the best candidate in the pool. Retained searches are typically long, exhaustive, and involve a very close working relationship with the client.
Contingent: For the fast results.
Multiple similar positions to fill, and candidates are needed quickly
Conduct a contingent search for non-critical roles in a firm – this allows you and your recruiter to explore different avenues of sourcing potential candidates that can do the job. Contingent searches are great when you require fast results especially during mass hirings for entry to junior level positions, or temporary headcounts. The quick turnaround timeframe will work best when you work with specialist agencies in their market. Contingency searches are paid only when your organisation decides to hire the candidate presented by the agency.
Can you meet me halfway? Right at the borderline.
Feeling the pinch? Do you want the best aspects from each search but know that you are unable to give in to the drawbacks?
What if there is a plausible solution to engaging an agency and having your role prioritized without money upfront? Let’s meet everyone halfway: