Why Retained Search (Part 1)
Retained Search vs. Contingency Search
Does your company have plans to bring on new talent in 2022?
I’ll be releasing a series of videos outlining the reasons why a company should choose a retained search model for their next executive search.
In this first video, I will outline reason #1:
Retained Search affords you a dedicated partner
In the Retained Search model, part of the fee is paid upfront. And as a result, the recruiting firm can afford to dedicate sufficient time and resources to your search, and continue to do so until a hire is made.
This is not the case with the “Contingency Search” model where the firm has no skin in the game and only gets paid upon completion of the search assignment.
Arguably the most important factor to look for when selecting an executive search partner: will they stay committed to you until the job is done?
I have seen countless examples where the hiring manager was very specific in the candidate he was looking for, or the company had a challenge to tracking the talent they wanted at the compensation range, budgeted for the position. Or the position was based in a rural location that most candidates did not want to relocate to and with no local talent available. The list goes on.
In each case, the positions were filled because the company had a dedicated, retained search partner willing to continue to dig in and find more candidates as long as it took until the job was done.
At DSC we embody this. On an average search we conduct, we reach out to over 300 candidates. I once had contacted over 1200 candidates on the particularly challenging search, but the position was filled, and the client was happy.
Hopefully this shed some light on why a Retained Search may be right for you. Stay tuned for my next video highlighting reason #2.