All That You Should Know about the Contingency and the Retained Recruitment.
There is nothing easy or cheap about the recruitment and hiring process, but leaving the position unfilled is even worse. 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 two types of recruiter, the contingency and the retained recruiters and many people think only differs with the fee but this is not true. 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 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. 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. The retained recruiters on the other hand is the ones that you pay upfront, so that they can then hunt a candidate for you. These ones work alongside the onboarding and the HR team, and also work alone until the task is complete. Normally, this will cost to around fifty percent of the first yearly salary of the hire, but you get the advantage of the control over the process and they also take time. These ones also specializes in some particular niche or senior position.
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. They are therefore ideal for the specialized and general positions. When you have some specific position to fill then the retained recruiters will be bets here. 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. 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.
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