Recruiters
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Remember when you could find candidates without spending tens of thousands of dollars buying access to multiple job boards?
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Remember when HR personnel weren’t pressed into being recruiters, something they were often ill equipped for?
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Remember when HR or the owner of a company realized the benefits of outsourcing the recruiting function to the experts?
What is the difference between a Retained Search and a Contingent Search?
Like most industries executive search has various types of companies performing similar work but with different methods and results.
Retained firms are paid by the client for performing the search process in a thorough and professional manner. Typically, the relationship is exclusive with only one firm working the search. Retained firms are compensated on a progress basis as the search is performed. Most executive and upper management level opportunities will be handled on a retained basis.
Contingent firms are most similar to the real estate industry; the search firm earns a placement fee (commission) when the person begins working. Typically, the commitment between the client and the search firm is not very deep and the company may be using multiple recruiters to fill the same position. Some contingent firms have been known to mail resumes to literally hundreds of companies in hope of placing someone. This can actually be a detriment to someone who is actively conducting a job search as companies may receive duplicate resumes and lose interest.
