15 May When to Use Technology Retained Search vs Contingent Recruitment
Posted at 16:18h
in Best Practices, Trends, retained search, contingent search, technology staffing, technology trends
When searching for top talent for your open tech and IT roles, it’s no secret that you are inundated with options. Job boards, LinkedIn, and more can be reputable avenues to capture talent. If you, like many leaders and internal HR teams, have little time to dedicate to your searches or perhaps are looking for the resources and network that a search firm can provide, then you may be asking what is the best option for my open role, a retained search or contingent?
We’re so glad you asked.
Below we are diving into the minutia that differentiates a technology retained search vs contingent. You will walk away knowing exactly what to engage with for your slate of open roles when partnering with executive search firms or contingency search firms to get the very best talent on the market.
Technology Contingent Search
Contingent search, or the contingent recruiting model is a scaled-down search model that includes the recruitment of three to five prospective quality candidates from our network, interview scheduling, and reference verification. This form of recruitment solution is where the search firm will present a handful of qualified candidates for the position that could be a match from their network. This time of search does not traditionally include search consulting, position refinement, using your company’s name in networking, or the full commitment to all of their recruitment resources.
Fee Arrangement
While the fee percentage is equal to a retained search cost, contingent search fees are not due until an individual is selected for a role and begins their first day of work.
Speed to Fill
While a contingent search can absolutely be the best choice for your open roles, it is important to note that contingency recruitment firms do not guarantee talent delivery, nor do they provide you with an expert recruiter to oversee the search process and ensure correct alignment. Thus, the success rates for retained searches for all entities are significantly higher, and the speed-to-fill time length can vary and also be significantly lengthened depending on outside factors. Generally, a recruiting firm will complete a contingent search within 90 days (depending on the role and your employment timeline needs.)
Your Recruiters
Contingent searches can certainly be a very viable pathway for identifying top talent for your open positions and roles. That being said, all Director and senior-level management roles should always be led as retained searches. For all entities seeking a proven and reliable pathway to ensure critical roles are filled successfully- retained search is the right choice. Contingent recruiters will utilize their tools, technology, and network to properly present you (and your hiring team) with a handful of viable candidate options and assist throughout the entire interviewing process to ensure it is efficient and effective. A contingent search recruiter will provide an overview of salary expectations, reference verifications, and assistance with the delivery of your offer to ensure success.
Time and Attention
With any contingent search, there is more of a limited time approach allocated to the work. Your assigned recruiting consultant is not responsible for addressing hiring concerns, overcoming client challenges, and/or providing a fully committed recruiting process to ensure successful hiring results. While they are certainly a partner in your search, the variation of support that you will receive will be less than in a retained search partnership, and with some roles, that is exactly what you need. Should you know that you and your team will need additional support for your open roles, let’s take a look below to understand what a retained search firm partnership provides.
Technology Retained Search
A retained search is a full-service recruitment solution with your search partner that includes support and leadership from your expert search firm partner for each and every stage of the recruitment process. From meeting with your hiring team to refining the position description, building your talent pipeline, and managing each stage of the process. The retained search process will include strategic search leadership support, consulting time to ensure the hire is a success, reporting, and ongoing support provided to answer questions and aid in the structure of the strategic growth of your organization.
Fee Arrangement
While the retainer fee percentage is equal to a contingent search, retained search fees are paid in three installments. The first becomes due at the launch of the search, the second is due 30 days after and the final payment is made when the candidate selected for the role, begins work. Some firms will require some sort of fee upfront, but it depends on each individual firm.
Speed to Fill
Retained searches can be completed in a comprehensive manner with great focus. Thus, a client’s timeline for securing a successful candidate is expedited with retained searches and frankly, much more reliable. Full, comprehensive dedicated recruitment and HR support to address your hiring questions, provide salary structure guidance, and assist in the maximization of the structure and alignment of your organization. From the moment the search starts, we take care of each detail to ensure your success! 100% commitment of significant consulting time from the outset of your search.
Your Recruiters
Retained search services provide deep local and national networking and outbound tailored recruiting to deliver you the best talent on the market. Recruiters who provide retained search services are often extremely well-networked and have deep tenure within the industry. Your recruiting consultant is there to listen to you as a client to fully understand your objectives, address any potential challenges you’ve experienced for the role and search as well as fully understand the vision of your team and organization to ensure the best possible candidate fit.
As stated previously, retained search recruiters have an incredible slate of tech candidates within their network, and more often than not, the best candidates are used to working with retained search firms, thus it can look less professional to have a contingent recruiter working on important positions. Retained recruiters have the ability to reach the 85% of passive candidates; potential candidates who are not actively searching on job boards. Additionally, your retained recruitment team will do extensive research to uncover the candidates who are currently working that you would not reach otherwise.
Time and Attention
100% commitment of significant consulting time from the outset of your search. Your recruiting consultant listens to you as a client to fully understand your objectives, address any potential challenges you’ve experienced, and fully understand the culture of your organization to ensure the best possible candidate fit.
Work with Scion Technology to find the best talent.
Finding a recruitment firm to partner with can make an incredible impact on your hiring process as well as your bottom line. When you have the right players on your team, you can feel confident that your organization is moving forward with ease. What better way to gain time back and work with experts than to partner with a search firm like Scion today? An expert technology recruiting partner is essential in today’s competitive technology market in order to find high-quality candidates. Our team actively networks, recruits, and has completed numerous successful searches of exceptional IT talent for a variety of verticals and specialized teams with an extensive pool of talent to select from.
To learn more about our services (both retained executive search and contingent search), contact our expert team today to launch your search.
