Discover the difference between what is retained search and contingent recruitment in the technology industry. Learn when to utilize these services to find top tech talent for your organization. Partner with Scion Technical, a trusted tech recruiting firm, to streamline your hiring process and access a pool of exceptional IT candidates.
In the quest to find top tech talent, businesses have an array of options available, from job boards to LinkedIn. However, if you're short on time or seeking the expertise and network of a search firm, you may wonder which option is best for your open tech and IT roles: retained search or contingent recruitment. In this article, we will delve into the nuances that differentiate technology retained search from contingent recruitment. By the end, you will have a clear understanding of which approach to engage when partnering with executive search firms or contingency search firms to attract the very best talent in the market.
Technology Contingent Search:
When it comes to contingent search or the contingent recruiting model, it involves a scaled-down approach. Typically, a contingent search entails the recruitment of three to five prospective quality candidates from the search firm's network, along with interview scheduling and reference verification. However, it does not usually include search consulting, position refinement, leveraging your company's name in networking, or a full commitment to utilizing all recruitment resources.
In contrast to retained search, contingent search fees are not due until an individual is selected for a role and begins their first day of work. Although the fee percentage may be equivalent to that of a retained search cost, the payment is contingent upon successful placement.
Speed to Fill:
While a contingent search can be a suitable choice for open roles, it's important to note that contingency recruitment firms do not guarantee talent delivery or provide an expert recruiter to oversee the search process and ensure alignment. Retained searches, on the other hand, boast significantly higher success rates across the board. The speed-to-fill time can vary and be extended depending on external factors. Generally, a contingent search is completed within 90 days, taking into account the role and employment timeline requirements.
Contingent searches can be a viable pathway for identifying top talent, particularly for non-director and non-senior-level management roles. However, for critical positions and those requiring proven and reliable pathways to successful hiring, retained search is the recommended choice. Contingent recruiters utilize their tools, technology, and network to present you and your hiring team with a handful of viable candidate options and assist throughout the interviewing process. They provide salary expectation overviews, reference verifications, and aid in delivering your offer to ensure success.
Time and Attention:
With contingent searches, the level of support provided is typically limited. The assigned recruiting consultant is not fully responsible for addressing hiring concerns, overcoming client challenges, or providing a fully committed recruiting process. While they are indeed partners in the search, the extent of support may be less than in a retained search partnership. This limited support may suit certain roles, but if additional assistance is required, a retained search firm may be the better choice.
Technology Retained Search:
Retained search represents a comprehensive, full-service recruitment solution. It involves a close partnership with your search firm throughout every stage of the recruitment process. This includes meeting with your hiring team, refining position descriptions, building a talent pipeline, and managing each stage of the process.
Retained search fees are paid in three installments: the first at the search launch, the second 30 days after, and the final payment when the selected candidate begins work. Some firms may require an upfront fee, although this varies.
Speed to Fill:
Retained searches offer a comprehensive and focused approach, expediting the client's timeline for securing a successful candidate. The commitment of significant consulting time from the outset ensures attention to detail and maximizes the alignment of your organization. Retained search provides dedicated recruitment and HR support, addressing hiring questions, providing salary structure guidance, and assisting in the strategic growth of your organization.
Retained search services provide deep local and national networking, as well as tailored outbound recruiting to access the best talent on the market. Retained recruiters are highly networked professionals with extensive industry experience. They take the time to understand your objectives, address challenges, and fully comprehend your team's vision to ensure the best possible candidate fit. Retained search firms excel at reaching passive candidates who may not be actively searching on job boards. Their thorough research uncovers candidates currently employed, widening the talent pool for your consideration.
Time and Attention:
Retained search guarantees 100% commitment of significant consulting time from the beginning. Your recruiting consultant listens to your objectives, addresses challenges, and understands the culture of your organization to ensure an optimal candidate fit.
Partnering with a recruitment firm can significantly impact your hiring process and bottom line. When you have the right team in place, you can confidently move your organization forward. By engaging the services of a trusted search firm like Scion Technical, you gain the expertise and resources necessary to find high-quality tech candidates. Whether you opt for contingent vs retained search, Scion Technical's team actively networks, recruits, and successfully places exceptional IT talent across various verticals. To learn more about their services and launch your search, contact their expert team today.
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