The Difference between the Retained and the Contingency Recruitment.
The recruitment process is not an easy one, but leaving the position unfilled will be even more expensive. We live in world today where the employers no longer have the luxury to make the hiring decisions as they wish. This has made the recruiters to make their processes faster and better, in order to avoid missing out on the few chances. There are the contingency and the retained recruiters, and many people usually think that the difference is on the few alone which is not the case. There are two types of the recruitment, the contingency and the retained, that a good number of people usually think wrongly that they differ with the fee alone. 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. Most of these ones also specializes in the top position or particular niche.
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. Retained on the other hand are better for when you are looking for some specific candidate. There is a very high chance that they already have one in their rolodex.
The contingency work from outside and have less Intel, but their marketing skills are better for the job seekers, and the retainers on the other hand usually have more information. There are a number of things that will determine the best recruiters for you and among them is the position that you are looking to fill, the candidate availability and the industry too. Choosing the right one is also very important implying that you have to compare recruiters well in advance.