Retained search is a specialised recruitment service used by companies to fill high-level or executive positions. Unlike traditional recruitment methods, retained search involves a more focused, in-depth process and is characterised by the following features:

In a retained search, the client (the hiring company) pays the search firm a portion of the fee upfront to begin the search process.

The fee is typically a percentage of the hired candidate's first-year total compensation (salary and bonuses) and is paid in installments (third on commencement of search, third on accepted offer, final third on commencement of employment).

Using retained search offers several advantages to a hiring company, particularly for high-level, specialised, or mission-critical roles. Here's why you might choose this approach:

 

1. Access to Top Talent

•Passive Candidates:A retained searchapproachspecialisesin reaching out to high-calibreprofessionals who are not actively seeking new roles. This expands the talent pool beyond those applying to job postings.

•Exclusive Candidates: Consultants often have access to exclusive networks, giving you, the hiring company an edge in identifying top-tier candidates.

2. Quality Over Quantity

•Retained search firms invest significant time in understanding the company’s culture, leadership needs, and strategic goals.

•They present only the most qualified candidates, ensuring a better fit for the position and organisation.

3. Thorough and Customised Process

•Comprehensive Analysis: The process includes detailed role and market analysis, benchmarking, and alignment with the company’s vision.

•Candidate Vetting: Retained firms conduct rigorous assessments, including in-depth interviews, background checks, and sometimes even psychometric testing.

4. Dedicated Resources

•Retained searchconsultantswork exclusively foryou,the hiring company on the role, ensuring focused and undivided attention.

•They typically assign experienced consultants or senior recruiters who specialise in the industry or function.

5. Confidentiality

•For sensitive roles, such as leadership positions, retained search ensures discretion, protecting the company’s reputation and business strategies.

6. Strategic Partnership

•Retained search firms act as trusted advisors, offering market insights, salary benchmarking, and talent trends. This helps the company make informed hiring decisions.

•They are invested in the company’s success and work to ensure the right cultural and organisational fit.

7. Guaranteed Outcome

•Many retained search firms offer a replacement guarantee if the hired candidate leaves within a specified timeframe.

•The search isn’t concluded until a suitable candidate is found, providing assurance toyouthe client.

8. Time and Cost Efficiency for Senior Roles

•While upfront fees may seem costly, retained search saves time by streamlining the hiring process for critical positions. It reduces the risk of a bad hire, which can be far more expensive in terms of lost productivity, morale, and reputation.

9. Focus on Long-Term Fit

•Retained firms emphasise alignment with the company’s long-term goals, ensuring the selected candidate can drive strategic objectives and contribute meaningfully over time.

When Retained Search Makes Sense

Retained search is particularly advantageous for:

•Executive or C-suite roles.

•Highly specialised or niche technical positions and difficult to fill roles.

•Leadership roles where confidentiality is crucial.

•Companies seeking a strategic, consultative approach to hiring.

By ensuring a comprehensive, focused, and professional process, retained search minimises hiring risks and delivers top-tier talent tailored to the organisation’s unique needs.

Please contact us to discuss your company’s specific needs.