Why should you use retained recruitment?
Written by Richard Taylor
Richard Taylor is an accomplished domestic and international Legal Recruitment Consultant. He works exclusively on specialist hiring briefs with top Law firms across London, Europe, the US, and the UAE.
What is the main difference between contingency hiring & retained search?
Retained recruitment, often called search & selection or executive search refers to recruitment agencies that work exclusively on specialised roles and dedicate all of their attention and resources to filling one requirement at a time. The recruiter is paid an upfront fee compared to contingency recruitment where the recruiter earns a fee based on the individual success of placing a candidate.
So, what are the main benefits of retained recruitment?
1. No competing agendas.
Compared to traditional contingency recruiters, retained recruitment consultants work together for the client rather than competing in the same talent pool for the same clients. This makes for a much more collaborative approach and often higher success rates.
2. Higher priority placements.
Whether you are looking to build a niche team or develop your senior leadership team; retained search is better suited to executive level hiring and for sourcing more specialist candidates.
The push for Partner level candidates means the candidates presented to the client tend to be well-vetted and highly experienced.
3. 100% dedication and a high conversion guarantee.
Because retained recruitment involves slightly trickier to fill briefs, consultants who work on a retained basis are often highly skilled and experienced.
Expert knowledge of their market is a must and consultants often specialise for years, accumulating a vast and diverse network of stellar candidates.
4. Feedback & market intelligence.
Retained search works on a cooperative basis between client and consultant. Regular meetings and touchpoints to provide feedback about the brief can be crucial and conducive to finding the right candidates and getting results.
With retained search, you get additional advantageous services like market mapping. Good search and selection firms will provide detailed market research and talent forecasts before a search at no extra cost.
5. Positioning your brand in the market.
Retained search places your company and your brand in the markets you want to disrupt. With retained search, the priority is identifying and selling your company’s USPs to the candidate.
This can be a huge asset to your firm in terms of growing awareness of your brand specifically within your target audience and your ideal candidate pool.
What are the benefits of working with us on a retained basis?
William James Recruitment are uniquely placed in our market at the intersection between recruitment and executive search. We already have the market knowledge and connections at our disposal. Where other retained search firms may be starting from scratch – we have a solid base and candidate network.
Another advantage of using our services is that we operate on a global basis. Now more than ever firms are struggling with domestic talent, with remote working and traveling back in full swing there is the potential for the UK to tap into the international talent pool. We work with candidates overseas as well as ex-patriots who are looking to return. Our global research team is in one location, rather than multi-site allowing us to work collaboratively on retainers without blockers or delays.
As a part of our services, we offer both retained and contingency recruitment on a case by case basis. We tailor our services depending on the brief, your hiring needs, geography and the areas that you’re expanding in.
Find out how retained search can transform your hiring strategy.
Contact us on 0333 242 3900 for a confidential conversation or reach out below.
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