Retained Vs Contingency Search

Lucy Highton
August 23 2024

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WHAT IS RETAINED SEARCH AND WHY CONSIDER IT?
The key difference between contingency recruitment and a retained search is the lengths a recruiter will go to to map the market to identify, approach and convert professionals with the level of experience or expertise the client requires.

Retained recruitment offers a much deeper search including headhunting, targeting competitors and persuading the most passive of candidates. If you are struggling with hard-to-fill roles, are seeking discreet hires or would benefit from more a more strategic approach, a retained search can be transformative.

Often clients assume retained search to be a more expensive offering and are surprised when we tell them it is the same cost as a contingent search.

HOW DOES CONTINGENCY SEARCH DIFFER?
Contingency search (traditionally seen as the standard recruitment model) can work for a quick, non-strategic hire when there are plenty of suitable candidates in the marketplace.

Clients tend to think of it first, in part because they only pay once a placement is made so it has that ‘no win-no fee’ element. However, it can be a chaotic way to work, with in-house talent teams reaching out to the same candidates as multiple recruitment agencies – wasting time, not creating a great first impression for those potential candidates and adding stress to the process with duplicate CVs.

Contingency search is a reactive way of working, with the role only reaching professionals who are actively seeking a new opportunity.

WHAT ARE THE BENEFITS OF USING A RETAINED SEARCH?

  • The client saves time - while reducing confusion and stress - as they only work with one recruiter who takes time to get to know them, their brand and their culture.
     
  • The organisation is more likely to get the best person in the role (first time) thanks to the deep-dive nature of the search which can include extensive market-mapping and the headhunting of target companies or individuals.
     
  • The brand gets represented in the most positive way, with employer branding and EVP advice as well as just one point of contact managing potential candidates.
     
  • Payments are spread across three or four stages - from initial search to successful placement - helping companies manage cash flow.
     
  • Retained recruitment is a pro-active way of working, unearthing and persuading even the most passive of candidates.


COMMON RETAINED SEARCH MISCONCEPTIONS DEMYSTIFIED

“Retained search is more expensive”
Fiction! At Premier Resourcing, we charge the same percentage of salary for a retained search as we do for contingency search. What does differ is the payment structure; due to the increased time our recruiters spend focusing on your organisation and on the role, we stagger the payments across three stages between launching the search and the successful professional starting with you. We also offer a cooling-off period and a six-month guarantee for added peace of mind.

“It’s better if I widen the net with multiple recruiters”
This is possible, especially for a non-strategic hire when there are plenty of suitable candidates in the marketplace. Do be aware that sharing a vacancy with multiple recruiters can create speed but not always quality – think duplicate CVs, quickly thrown together shortlists and time wasted screening candidates that don’t match your requirements.

“Retained search is only for Senior roles”
Fiction! Traditionally, retained search (or headhunting) has been used mostly for Director and C-suite roles - and it’s ideal for this - but the methodical and targeted retained approach proves successful at all levels. Companies requiring a discreet hire, a more strategic hire, or those with a difficult-to-fill role also see the benefits to having a more focused, strategic search.

HOW WE SUPPORT YOUR SEARCH
As specialist PR, Marketing and Creative recruiters our Gold-level Retained Search has a dozen exclusive benefits, including:

  • Extensive market-mapping Headhunting of target organisations or individuals
  • Your search overseen by our MD and most senior consultants
  • Commitment to a 4-week turnaround if needed
  • Candidates presented are exclusive within Premier
  • Video screening of candidates
  • Extended guarantee period of six-months
  • Employer branding and EVP advice


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About Louise Hannant
With more than 20 years of expertise in PR, Marketing and Creative recruitment, Louise adds her Little Black Book of contacts – and her powers of persuasion – to ensure the most passive of candidates are targeted. Since setting up Premier Resourcing in 2010, Louise has grown the team to ten consultants but still ensures she oversees the priority accounts of all Retained clients.

For an introductory chat about how a retained recruitment service can help your organisation thrive, talk to Louise on 020 3984 1080 or lhannant@premierresourcing.co.uk


Sources: *PR Moment, April 2024. **Recruitment and Employment Confederation (REC) Survey 2024.

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