Retained recruitment and contingency recruitment are both effective methods for finding and attracting the right candidates for a role. However, there are several benefits to using a retained recruitment approach over a contingency recruitment approach. In this blog post, we will discuss some of the benefits of retained recruitment over contingency recruitment.
- Specialized Industry Knowledge
Retained recruitment agencies often have specialized industry knowledge, which can help them identify and attract the right talent for a specific role. They have a deep understanding of the industry they are recruiting for and can provide valuable insights on market trends, compensation packages, and the current talent landscape. This expertise can help ensure that the right candidates are sourced and hired, leading to a more successful recruitment outcome.
- Exclusive Focus
Retained recruitment agencies work exclusively on a single search at a time, which allows them to dedicate all their time and resources to finding the right candidate for the role. This exclusive focus on a specific role enables them to identify and attract top talent from within the industry, who may not be actively looking for new opportunities. This approach can increase the chances of finding the right candidate, as opposed to contingency recruitment where the agency may be working on multiple searches at the same time.
- Better Candidate Screening and Selection
Retained recruitment agencies generally have a more extensive candidate screening and selection process. They conduct in-depth interviews and assessments, perform extensive reference checks, and use other screening tools to ensure that they identify the best possible candidates for the role. This thorough vetting process can result in a higher-quality candidate pool and a more successful hire.
- Higher-Level Roles
Retained recruitment is generally used for higher-level or executive roles, where there is a smaller pool of potential candidates. These roles require specific skill sets and experiences, which can be difficult to find through contingency recruitment. Retained recruitment can attract candidates who are not actively looking for new opportunities, but who may be interested in a new challenge if the right role becomes available.
- Partnership Approach
Retained recruitment agencies often take a partnership approach with their clients. They work closely with the hiring team to understand their needs, culture, and vision for the role. This collaborative approach ensures that the agency is aligned with the client’s objectives and can deliver a successful hire that meets their needs.
Retained recruitment can offer several benefits over contingency recruitment, including specialised industry knowledge, exclusive focus, better candidate screening and selection, a focus on higher-level roles, and a partnership approach. These benefits can result in a more successful recruitment outcome and a better candidate fit for the role. While retained recruitment may have a higher upfront cost, the long-term benefits can far outweigh the initial investment.
For a more in-depth conversation regarding your current needs and challenges contact one of our Management Consultants to discuss your Talent Acquisition needs.
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