All That You Should Know about the Contingency and the Retained Recruitment.
The recruitment process is tough, but the alternative choice, which is leaving the position unfilled id even worse. Employers take few days to snap up the great talents in the candidate job market that we have today, and no longer therefore have the luxury to run the recruitment process as they please. This has made the recruiters to make their processes faster and better, in order to avoid missing out on the few chances. There are two types of recruiter, the contingency and the retained recruiters and many people think only differs with the fee but this is not true. Here is all you need to know about working with the recruitment services when hiring.
The contingency recruitment is the one that you only pay when you accept a candidate that the recruiter puts forward. With the contingency, you only pay when you hire the candidate that the recruiter puts forward. For the first one you pay when you hire the candidate that the contingency recruiters puts forwards. These ones usually are independent or part of an agency, and can either submit their applications or get hired by the HR team. They also are usually competing with other external recruiters of the internal hiring team, and therefore puts forwards a lot of the candidates and fats to increase their chances of hire and getting the fee. With the retained recruitment on the other hand, there is a fee to pay before they can get started with the talent hunt. There is no competition for these ones and they therefore work until the task is complete, alongside the onboarding and the HR team. Unlike the contingency recruiters, these operators usually take their tome and have some pre-determined and agreed upon methodology that gives the list more control but at a cost. They usually are also socialized in particular niche or senior positions.
You get more of the candidates and the liberty to choose whether to interviews them or not and you don’t pay for that, or upfront which usually saves you a few dollars. These ones are ideal for the general and the specialized positions. When you have some specific position to fill then the retained recruiters will be bets here. There is a very high chance that they already have one in their rolodex.
The contingency recruited work from the outside and the retained ones from the inside and therefore have inside Intel on the job detailers. The positions that you want to fill, the state of the job market where you are located and the industry that you are in, are among the things that will determine the best recruiters type for you. Choosing the right one is also very important implying that you have to compare recruiters well in advance.
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