Everything you need to know about the Contingency Vs. The Retained Recruitments.
The recruitment process is tough, but the alternative choice, which is leaving the position unfilled id even worse. Employers take few days to snap up the great talents in the candidate job market that we have today, and no longer therefore have the luxury to run the recruitment process as they please. The recruiters are making the process quite fast to make sure that the do not miss on the chances. There are two types of recruiter, the contingency and the retained recruiters and many people think only differs with the fee but this is not true. If you are thinking of working with the recruiters then here is all you need to know.
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 can be working independently or as part of an agency, and can submit their application or get hired by the HR teams of the clients. The contingency recruiters usually are competing with other recruiters and the internal hiring team, and will bring forwards as any candidates as they can and fats so that they can increase their chances of 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. These ones work alongside the onboarding and the HR team, and also work alone until the task is complete. 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. These ones also specializes in some particular niche or senior position.
Among the advantages of contingency recruitment is that you save a lot upfront, and also get a verity of the candidates to vet. 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 recruited work from the outside and the retained ones from the inside and therefore have inside Intel on the job detailers. The positions that you want to fill, the state of the job market where you are located and the industry that you are in, are among the things that will determine the best recruiters type for you. Last but not least, make sure that you choose the right recruiters for whatever type that works for you.
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