Thinking about working with a recruiting firm, but not sure what search method to choose? The structure of retained, engaged, and contingency searches varies by company, but it is generally similar across the board. Our firm offers three search methods—here’s how we define retained search recruitment.
Retained vs. Contingency vs. Engaged Search
When deciding whether to use retained search recruitment, consider the type of role you need to fill, how quickly you need to fill it, and how many candidates you’re looking for.
A contingent search doesn’t require any up-front fees and allows you to work with multiple recruiting firms simultaneously to get as many candidates as possible. It usually works best for non-leadership roles that don’t need to be filled urgently.
As the name suggests, a retained search starts with a retainer fee. This method gives your search high priority and dedicates resources to it. It’s most effective for finding candidates for high-stakes leadership roles like C-Suite executives. This method also provides confidentiality when you need to fill a position discreetly.
Engaged search is a less common but powerful hybrid between contingent and retained search. If you’re considering a retained search, but don’t want the commitment of an upfront retainer fee, an engaged search may be the right choice for you. It provides a high-priority search for a partial upfront fee, which is fully refundable if no placements are made.
Retained Search Recruitment for Non-Executive Roles
At Journey Search Partners, our executive searches are always retained. We also offer retained search as an option for our other direct hire searches. Here are a few ways this may benefit your company:
- Filling a role that’s currently occupied: the confidentiality offered by the retained method can keep any search confidential.
- Creating an exclusive partnership with a recruiting firm: whether you’re hiring for a leadership role or not, a retained search holds a single firm accountable for the success of your search. This puts their reputation on the line, giving you peace of mind that they will find the best possible talent.
- Working with a dedicated search manager: at most firms, a retained search provides your company with a dedicated point of contact. This individual leads the search and stays in constant communication to provide you with a smooth experience that leads to a successful hire.
Need Help Choosing a Search Method?
If you have questions or need help deciding whether retained search recruitment is right for your company, we are here to help. Contact our executive and direct hire recruiters or call us at 651-383-2020, and let’s plan your recruitment search together.
