The benefits of retained search are that you can hire the best talent in the industry. You get access to candidates carefully chosen and vetted by a consultant with specific knowledge in your field. Your consultant will also know how to work with you to find the right candidate for your business and ensure that the person fits well into your culture. Retained search firms are different than contingency recruiters because they only get paid when they bring on a new employee—not before. That means they have an incentive to fill open positions quickly and ensure those hires are successful and stay with your company long-term!
The benefits of retained search
Retained search is a way to hire professional talent to achieve your business's specific goals. It's the most effective way to hire the best candidate for your company and an exclusive process. You can choose which candidates will be interviewed (versus other recruiting methods where many candidates are presented).
Retained search is a process that involves hiring a firm to find, screen, and present qualified candidates for your company. The recruiter will work with you to determine what type of candidate you need and then begin the search. Once a potential candidate is found, they will be screened by both the employer and the recruiter for fit with the position and culture of your company. From there, if all parties agree that this person would be an excellent match for your business.
Retained search versus contingency search
Contingent search provides no commitment by either the search firm or the client.
Contingent search primarily deals with active candidates looking for a new job and not passive candidates who are not looking.
Contingent search creates an environment where candidates are sent to multiple clients with a mixed message about both companies and positions in the marketplace, confusing both parties involved (candidates & employers).
Contingency searches can result in lost opportunities for everyone involved and missed deadlines due to overloading recruiters' schedules with additional interviews scheduled outside regular working hours.
Retained search is when a recruiter works for the candidate and the client.
Retained search creates a mutually committed partnership where all stakeholders are involved in completing a search.
Retained search focuses on vetting all candidates to find the best and not the most available.
Retained search can reduce the time to fill a vacant position.
Retained search is also an excellent fit for companies seeking highly specialized or industry-specific candidates. The retained search firm will work closely with the client to identify and attract top talent while providing valuable insight into the company culture, work environment, and available career opportunities. This type of recruitment service is ideal for businesses that want to hire someone who will be an asset to their organization in terms of experience and personal fit.
How to work with retained search recruiters
The first step in working with a retained search recruiter is a clear idea of your goal. Suppose you're hiring for an executive position, for example. In that case, the recruiter must understand what makes someone qualified for the job and whether they can realistically find candidates who fit that criteria.
The next step is knowing your business and industry inside-out--you'll need this knowledge when discussing candidate profiles with potential new hires and making offers of employment. It also helps when deciding whether someone would suit your company culture (which can sometimes take time).
Be realistic about how long it will take to get the right candidate. If there are too many requirements on either side (you don't have time/money), then perhaps reconsider whether or not this position needs to be filled immediately. You may find that waiting until later when resources are available could save both parties from wasting valuable resources unnecessarily early into negotiations; however, if both parties agree, go ahead!
Hiring a candidate is a big decision for both parties. Ensure you know what you're looking for and what it will take to get the best person for the job. This will save time and money in the long run!
Retained search is a way to hire professional talent to achieve your business's specific goals.
Retained search is a way to hire professional talent to achieve your business's specific goals. It's an exclusive process, which means only the best candidates are considered, and there's no competition from other companies. A retained search gives you more control over the candidate selection process because it's more personalized than traditional outsourcing or recruitment advertising.
Retained searches reduce the cost of vacant positions by eliminating unnecessary costs associated with recruitment advertising, interviews, and assessments (e.g., psychometric tests). The time and expenses spent filling an open position are also reduced because retained searches remove multiple steps in the hiring cycle, such as sourcing new candidates, interviewing them face-to-face, etc.
A retained search is the way to go if you're looking for the ideal candidate for your business. This approach is more personalized and gives you a selection of pre-screened candidates, all of whom have been vetted by an expert team and are perfect for the job.
Conclusion
Now that you know the benefits of retained search, it's time to start! If you have any questions or concerns about working with a retained search recruiter, please get in touch with us at [email address]. We would love to hear from you and help in any way we can. We are experts in retained search and can provide the best advice on hiring a suitable candidate for your business. We have worked with many clients across various industries and sectors, including healthcare, pharmaceuticals, and academics.