How do you do a retained search?

However, before we get into the nuances, you first must learn the basic steps of the retained search process.

Step 1: Engaging the Retained Firm.
Step 2: Holding Launch Meetings.
Step 3: Creating Position and Candidate Specification.
Step 4: Setting Research Strategy.
Step 5: Conducting Original Research.

What is retained search recruitment?

In retained recruitment, the recruiter is paid an upfront or scheduled fee and works on an exclusive basis, meaning they, and only they, will be looking for a candidate. Multiple recruiters are invited to look for the right talent. If one finds and places a candidate, they get paid.

What does a retained basis mean?

Working on a retained basis means the dedicated head-hunter will charge an upfront fee to the client in order to conduct an Executive Search. They will operate on an exclusive basis meaning the job will only be filled through this search company.

What is a retained executive search?

A retained executive search means the recruiter or headhunters charges an upfront sum in order to carry out the executive search. Additionally, retained recruiters operate on an exclusive basis, which means the job is exclusive to that specific retained executive search firm.

What are the benefits of retained executive search?

obviously it is critical not to make hiring mistakes.

Wider Reach. Retained search firms have a wider reach of potential employees than other resources.

companies are often looking for very specific talent in extremely narrow fields.

Communication.

Cost.

Time.

What does a retained search consultant do?

A retained search consultant, on the other hand, is paid in advance to conduct a search that usually results in a hiring-but not always. But that difference, when you think about it, dictates two completely different methods of searching for the person you need – and usually ends in two quite different result scenarios. The retained search firm is being paid to conduct the search. They therefore undertake a much more exhaustive process.

What is a contingent search firm?

A contingency search by definition means that the search firm will only collect a fee if they find and place a suitable candidate for the position in question. This type of search may or may not be structured contractually with the client company and it is 100% “back end” loaded.

What is a recruiting retainer?

Retained recruitment is a type of recruitment performed for a company by a recruitment agency on a retained, ongoing basis.