In the recruiting industry searches are typically conducted using retained, retingency ("container"), and contingency search models. Understanding the differences between these models is critical in determining which level of service is needed for a particular search.Personnel Strategies, Inc. engages in retained, "retingency"? , and contingency searches for both professional and executive level search assignments.
A Retained Search is preferable in cases where a company has a pressing executive level need that requires a candidate who will hold key leadership responsibilities and whose services are integral to overall organizational success.Given the strategic importance of these positions, there is often a degree of urgency and/or confidentiality that accompanies this type of search.Retained searches are given priority status with more resources dedicated to the search.
PSI takes great care in working with a client company to formulate a clear and objective outcome-driven job description.The advantages of a retained search are significant. First, retained searches take precedence over contingency assignments due to the mutual commitments that are involved in the search process.A client company is essentially securing a commitment from the search firm to prioritize the search.Second, initiating a retained search allows potential candidates to see how serious the hiring company is about filling the position, therefore giving credibility and legitimacy to the search firms consultants when discussing this position with potential applicants. Please contact us for more information.
A Retingency Search offers several benefits to both the client company and the search firm in that many of the strengths of the retained search model can be captured while at the same time reducing the financial risks for both parties.In a retingency search, the fee is typically divided into two parts. The first part ("container") is paid at the beginning of the search and is typically one fourth of the anticipated search fee.The last part (remaining three fourths of the search fee) is paid when the search has been successfully completed. Please contact us for further information.
A Contingency Search by definition means that the search firm will only collect a fee if they find and place a suitable candidate for the position in question.This type of search may or may not be structured contractually with the client company and it is 100% "back end"? loaded.This arrangement begs the question as to whether the search firm actually has such a "client"? given the absence of any stated or written commitments for exclusivity.
In a contingent search, the search process is usually less structured and less about a precise candidate "fit" and more about getting potentially qualified candidates in front of the client so that the client can make his or her own final assessment.Often candidates in such searches are drawn from a search firm's existing database. While these methods can certainly uncover good candidates it is not as comprehensive as the 2 approaches above. Please contact us for more information.