What is Retained Recruiter?
A Retained Recruiter is a professional hired by an organization to assist in identifying and hiring top talent for key positions. Unlike contingency recruiters who are paid only upon successful placement, retained recruiters work on a retainer basis, receiving payment regardless of the outcome.
Key Features of Retained Recruiter
- Exclusive Focus: Retained recruiters typically work exclusively for the client organization, dedicating their efforts solely to fulfilling their hiring needs.
- Customized Search: They tailor their search strategies to the specific requirements of the organization, focusing on finding candidates who align closely with the job description and organizational culture.
- Extensive Network: Retained recruiters often have a vast network of industry contacts and candidates, enabling them to access a broader pool of qualified individuals.
- High-Level Positions: They are commonly used for executive-level or specialized positions where finding the right candidate is critical to the success of the organization.
How Does It Work?
- Initial Consultation: The client organization meets with the retained recruiter to discuss their hiring needs, including job requirements, company culture, and timeline.
- Retainer Agreement: Upon mutual agreement, the client pays a retainer fee to secure the services of the recruiter.
- Search Process: The recruiter conducts a thorough search, utilizing various methods such as networking, direct sourcing, and advertising to identify potential candidates.
- Candidate Evaluation: They screen and assess candidates, conducting interviews and background checks to ensure they meet the client’s criteria.
- Candidate Presentation: The recruiter presents a shortlist of qualified candidates to the client, providing detailed profiles and recommendations.
- Interviews and Selection: The client interviews candidates and selects the most suitable individual for the position.
- Negotiation and Placement: The recruiter assists in negotiating terms of employment and facilitates the hiring process until the candidate is successfully onboarded.
Retained Recruiter Best Practices
- Clear Communication: Maintain open and transparent communication between the client organization and the recruiter to ensure alignment throughout the hiring process.
- Define Expectations: Clearly outline expectations regarding timelines, candidate qualifications, and the scope of the search.
- Provide Feedback: Offer timely feedback to the recruiter on presented candidates to refine the search criteria if necessary.
- Collaborate: Work collaboratively with the recruiter to leverage their expertise and insights in finding the best talent.
- Evaluate Results: Assess the effectiveness of the retained recruiter based on the quality of candidates presented and the success of placements.