Contingency Search Firm Versus Retained Search Firm - WalkWater Talent Advisors

Contingency Search Firm Versus Retained Search Firm? - WalkWater Talent Advisors Selecting the right search firm is important if you want to get the right candidates working in your organization. There are two main different types of search firm models – contingency search firm and retained search firm, each significantly differing from the other. To be able to choose the right search firm you need to understand each type, and also the search firm type that your business needs.

What is a contingency search firm?

Contingency search firms are those that are paid only when they find a fitting candidate and have him placed in the organization.

These firms primarily focus on individual contributor and mid-level roles. Now, when a contingency search firm is hired, it is likely that many firms are hired at a single time, working on the same search, with the best recruiter winning away. Thus, contingency is a business of volume and speed. As a result, contingency firms are

only focused on bringing candidates faster to the organization. This may lower the focus they put on quality. Contingency search firms may not put in efforts to get in touch with hard-to-recruit passive candidates who aren’t actively looking. Instead, they will just want to grab unemployed candidates who are willing to catch an opportunity of being placed in an organization. So, while you get a candidate, you can't be sure of the quality of performance that will be delivered. There’s just one benefit of hiring contingency firms – they are less expensive and guarantee a candidate placement.

What is a retained search firm?

Retained search firms are those that are paid for the work of recruiting that they do, whether or not they are able to place one or more candidates in an organization or not. Although the goal of such a firm is to fill the opening, their fee is not dependent on making a placement. Undoubtedly, these firms are also expensive, which is why they are hired to recruit senior-level executive professionals.

This is because these firms are more professional and focus on the quality of the candidate they bring to you. When you hire a retained search firm, you hire just one firm, meaning there is no competition as to who will bring a candidate to the organization first. This brings retained search firms enough time to focus on the quality of the candidates. They do enough research and find only the most fitting candidate for the job. Thus, when you get an applicant from a retained search firm, you can be sure that you are receiving quality and performance. WalkWater Talent Advisors is one of the best

executive search firms in India, who you can hire if you are expecting such quality performance results.

Which is the right choice for you?

So now, which is the better choice of the two? Do you wish to hire multiple firms at a cheaper rate, but compromise on quality? Or, do you wish to spend some more, but higher a single firm that will deliver results; however, unsure of whether or not the results will be achieved within the time frame you require?

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