Contingent recruitment is still by far the most common method of supply for external hiring in the UK. Similar to a no win, no fee situation. Multiple recruiters are instructed to search for talent. The agency to find and place the candidate obtains the fee.
But is there a better way?
Retained recruitment involves a retainer fee paid upfront and works on an exclusive basis with just one chosen agency.
Your role will have the full attention of the recruiter as retained agencies limit the amount of searches they perform at any one time in order to guarantee high quality and focused candidate delivery. You work with a recruiter dedicated to your role and result, rather than an agency working on multiple roles to ‘hedge their bets’.
While paying a sole recruitment agency up front to fill a role might seem like a daunting prospect, those hard to fill or senior level appointments are where the retained model really adds value to your recruitment process. It’s a consultative approach which delivers you with only candidates that closely match your criteria from both a skills and cultural perspective.
Dealing with multiple recruiters on a contingency (no win, no fee basis) might feel like you are casting the net far and wide and thus increasing your chances of success, but in fact it can do more harm than good. Not only does working with multiple agencies eat into your time, but it can cause mixed messages within the market. One candidate may be put forward by more than one agency and find themselves in the centre of a tussle over “candidate ownership”.
As retained recruiter, Beagle Talent will work from the outset in partnership with you to truly understand your organisation, the brief and the skillset required. We serve as your brand ambassador, ensuring that your company and the opportunity are actively promoted amongst the target audience.
Where the contingency approach will typically bring you candidates that are actively on the market, the retained model will also target passive candidates to bring you the best in the market. You don’t just get who is available, you get the best available. Via a thorough research process top talent is identified and market intelligence gathered. As well as getting the all-important candidate, you gain insight into what your competitors are doing, or perhaps paying for similar roles.
Making a bad hire can be a costly mistake. With a retained process this risk is lowered. Candidates are thoroughly vetted by the recruiter, matching their experience and aspirations to your detailed brief. Getting it right the first time by paying a retained fee is the more cost-effective approach.
Retained search isn’t just reserved for executive level appointments, it can work where a niche skillset is required or where discretion is key. If you would like to learn more about how Beagle Talent can partner with your organisation, please get in touch today.
