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WHAT IS A RETAINED SEARCH AND HOW IS IT BENEFICIAL TO YOUR COMPANY?

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As a company owner or human resource manager, you may have tried all your internal inquiries and external searches in finding the perfect candidate for a specific high role position in your company and failed. You may also have tried reaching out to different recruiters, but the right candidate doesn't seem to come by. So what next? The truth is, your perfect candidate may be working in a top-ranking position in a renowned company, but you can still hire them. However, you need the resources, skills, and expertise to find them. A retained search facilitates that and offers better results in recruiting. 

A retained executive search firm invests their time and applies a more systematic search to find you the perfect candidate. They work on an exclusive basis meaning that the position will only be filled through them. They become your eyes and ears in the industry and the first contact point in acquiring the ideal executive candidate for the job position. Here is how a retained search can benefit your company.

A more systematic search process

Since the recruiter specializes in filling out special job vacancies with top-level candidates, their dedication to the work allows them to carry out a more systematic and intense search to find the right candidates. It can include headhunting, paid for target marketing, and other market mapping techniques to attract highly qualified candidates. On the other hand, general recruiters may not have the time to dedicate to such intense searches.

A guaranteed commitment level

A retained executive search firm engages with you to understand the importance of your company's job opening, and you pay them the fees upfront. That way, you both lock in a commitment level to mutually collaborate in ensuring that the vacancy is filled within the agreed timeline. The fact that the recruitment firm is the only one charged with filling up the vacancy allows them to prioritize your search and obtain the ideal candidates within the given time.

Agreed timelines

When agreeing with the recruiter on a retained search, time is always part of the deal. You agree with the recruiter on deadlines at the start of the process and include it in the contract. This ensures the recruiter dedicates enough time to work on the search and deliver the right candidates in the given time. That also allows you to schedule your time to facilitate the interview and boarding process. That way, the recruiter doesn't switch focus and concentrates on your search only.

Lower risks of a poor hire

With retained search, you are exposed to lower risks of a poor hire. This is because a retained search focuses on finding quality or a top-level candidate for the job. This is especially important in more specialized high role jobs, senior or executive positions that require highly skilled candidates.

Finding rare skills

A retained search recruiter will look into passive candidates as well. Passive candidates are those who are working in other companies but have the potential to fill in your job opening. That ensures you get the exact right candidate with the rare skills to change your company.

The bottom line

A retained search does not involve a one shoe fits all approach. It is a custom search whereby the recruiter takes more time to understand the role and what the ideal candidate should possess. It is suitable for filling in unique, senior, executive, or high role positions.

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