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Differences Between Retained and Contingent Recruitment

Laying hands on top talent and securing it is a demanding task. There is a need for a deep understanding of the culture of the company and expertise in assessing the candidates. This is even more prominent in the executive level since the new employee will impact the culture and decisions of the company. For this reason, many companies have opted to engage executive recruitment firms to get the right talent. The contract between a search firm and a client can be either a retained search agreement or a contingent search agreement. Both of them have advantages and disadvantages which are related to the stage of growth of the company and the vacant positions. This article will help you know more about these agreements and guide you in choosing the best for your company at https://www.slonepartners.com/life-sciences-executive-search/.

Retained search is the most prominent research model, and thus demands the industry to have time dedication and high-end expertise. Normally, they source candidates through off-limits agreement. This model is preferred by clients with vacancies in senior-level roles. This is because senior-level employees are important decision-makers who have a major impact on the culture of the company. This model is reliable when looking for the best possible leader for your company since it can access a large database of highly qualified candidates.

Retained recruitment firms on the hand are preferred by clients who have vacancies on mid-level to lower-level positions. Just from the name, you can be able to predict that the firm gets compensated only if the candidate is placed. Clients usually hire multiple contingency search firms so as to increase the number of resumes received. This model is quite cost-effective for clients that need lower-level employees. In comparison to the retained searches, the required charges for contingent searches are of a lower percentage of the entire yearly compensation. This might also vary depending on the industry and the difficulty faced.

The various advantages of the models vary depending on situations. You should acknowledge the fact that every company has its own unique mission, culture, and vacancies. It is therefore important to find a retained search firm which is located in your industry so that it can access the relevant people. Getting the right retained search firm will guarantee you the long-term success of executive-level placements.

It is important to choose a premier executive firm that has specialized in the entire concept of recruitment and has offices within your accessibility. For more information on such firms, please visit our homepage. Visit this website at http://edition.cnn.com/2010/LIVING/worklife/02/15/cb.fake.job.reference.help/index.html for more info about jobs.

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