Retained Executive Search vs. Contingency

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Retained Executive Search vs. Contingency

Investing in quality leadership is one of the best ways to foster your organization’s success. On the flip side, hiring inadequate management personnel is a recipe for disaster. If you want to increase your likelihood of hiring individuals that provide quality leadership, you need to work with an effective search model.

The two primary search models that organizations use for management hiring include executive search consulting firms and contingency executive recruiters.

A Summary of Executive Search Consulting Firms

Executive search consulting firms adopt a client-centric approach and limit the number of assignments they take on at once. Limiting their number of clients allows retained search consultants to conduct a more thorough hunt for candidates.

The rigorous scouting process that retained executive search firms conduct covers you every step of the way—from defining the search to candidate integration.

A Summary of Contingent Recruiters

The approach of contingent recruiters differs from a retained search firm. Contingent recruiters will place as many candidates as they can in the smallest amount of time. Unlike executive search consulting firms, contingent recruiters work on many assignments at one time.

While contingent recruiters charge smaller fees, their lower rates reflect that their search’s lack depth compared to an executive search.

Since investing in human capital is essential, companies will benefit more from thorough retained search services.

How Do Retainers Work for Consultants?

Executive search firms will charge a consulting fee that’s congruent with the in-depth research that they conduct. One factor that makes retained consultants more appealing than contingent recruiters is that some contingent recruiters attempt to charge the same amount of money that executive search firms cost. You shouldn’t be paying more money for lower quality results.

During an exclusive retained search, a firm will get to know your industry at current needs. Afterward, a retained executive search firm utilizes competency-based interviewing techniques and modern assessment tools to identify ideal candidates.

What Does Retained Mean in Retained Executive Search Consulting?

The word “retained” within the phrase “retained executive search” refers to a firm working exclusively on mandate after the hiring organization pays the executive search firm a fee in advance. This consulting fee is often referred to as a “retainer.”

Once the fee is paid upfront, the search consultant will work for the allotted amount of time.

Highlighting the Effectiveness of Retained Search

If you’re looking for an exclusive talent search that values attention to detail, look no further than retained executive search. The philosophy, practices, and timing that a retained executive search provides reflect your organization’s personal needs.

Unlike a contingency search, retained search recruitment isn’t racing against time. You won’t have to sift through endless mountains of resumes either. Ultimately, an executive search provides you with quality over quantity.

Find Out Why ExeQfind Group Is a Forbes Top 50 Executive Search Firm

The ExeQfind Group works to go above and beyond with our retained search services. For more than twenty years, we’ve been building market relationships based on trust and results.

Transactional relationships aren’t something that we’re interested in. Instead, we work to develop a thorough understanding of what success will look like for your business. By understanding your needs, we can point you toward individuals that will positively impact your organization.

Contact the ExeQfind Group today to learn more about the ways in which we’ll provide your business with top-tier, senior-level talent.