Retained Recruiting in DC
If you’re searching for a recruitment firm that specialises in retained recruitment then we highly recommend Marshall Brown & Associates LLC. You can out more information here:
Retained Recruitment 101
What is retained recruitment? Well, it is completely different contingency recruitment. With retained recruitment a fee is paid to retain a recruiter to help you and in return they receive both exclusivity and income once they have located a candidate that is stumble for the role (hence why it is called ‘retained’ recruitment!). Granted, a portion of control over the entire process may be given up, but this isn’t always something that should be viewed as detrimental.
In most instances jobs that involve retained recruitment are typically top-end roles, i.e. where the number of candidates that are suitable for a role is low and where the income for the role is high. It is common to hear this form of recruiting referred to as ‘headhunting’ or ‘executive search’, simply because the roles that are involved are more often than not extremely difficult to fill and certainly won’t be filled quickly.
What are the advantages of retained recruitment? There are several pros to retained recruitment. The one that is probably obvious is the fact that the recruiter is motivated to work hard(er) to find you a suitable a candidate (due to the fact that they have had a retainer fee paid up front) than if they hadn’t received that fee. In addition to this, because this form of recruitment has a guarantee of exclusivity, you can be rest assured that the recruiter will perform sufficient due diligence and consideration when finding and vetting candidates. Where big salaries and top-end jobs are concerned recruiters will often go out of their way to ensure confidentiality (which isn’t always the case in contingency recruitment). Recruiters within this sphere also tend to have a larger network, which although may be more informal, is still sizeable and extremely valuable to both yourselves and them. Once they have done their work you can concentrate your time and efforts on interviewing the suitable candidates.
What are the disadvantages of retained recruitment? As mentioned above, when using retained recruitment you do lose some control and will be placing both more trust and resources in the recruiter to find candidates (rather than doing it yourself). If you are the type of person that likes to be involved all the way through the process then it is unlikely that retained recruiting is going to suit you well, if at all. The cost of retained recruitment is not necessarily higher than contingency, but a fee will need to be paid up front before any candidates have been found and shown to you. As well as this, the process is also slower. This isn’t surprising due to the fact that it will take time for the recruiter to find candidates that tick all of the boxes required (which is certainly necessary when top-end jobs are involved).
What is the pricing structure of retained recruitment? As you have probably ascertained from the above information, retained recruiting involves a fee being paid to the recruiter up front before they begin work on sourcing appropriate candidates; some may even expect a fee to be paid when they have a small shortlist of candidates available for you to interview. Once the process has been completed and the role has been filled a further fee will also need to be paid. How much the fees will amount to will depend on the salary and the agree fee structure, but it can be as much as 50% of the salary. In retained recruitment the percentage does tend to be higher than normal.
For retained recruitment services in DC please see the link at the beginning of the article.
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