What is Retained Search Recruitment?
Retained search recruitment is a comprehensive and targeted method used by organisations to fill critical leadership positions. One reason that this method is different to the rest is that the firm is exclusively engaged to find and secure the right candidate for a predetermined fee.
Amongst the various recruitment methodologies, retained search recruitment stands as a highly effective and specialised approach. In this blog post, we will explore why it is a powerful tool for identifying and securing the perfect fit for key leadership roles.
Benefits of Retained Search Recruitment for Employers
Access to Top Talent: One of the most significant advantages of retained search recruitment is the access it provides to a network of high-caliber candidates. It is likely that retained search firms have established relationships and connections with various industries. This provides the ability to tap into a pool of accomplished and talented individuals. These professionals might not be actively seeking new opportunities. However, this gives the recruitment firm the advantages as they will know they are the ideal person for the open position.
Customised Approach: Retained search is tailored to the unique needs of each client. The recruiting firm invests time to understand the company’s culture, values and strategic goals, ensuring that the candidates presented are aligned with these factors.
Reduced Hire Time: Retained search firms are dedicated to the task at hand, expediting the search process. This is particularly advantageous when time is of the essence, and a swift hiring decision is essential.
Comprehensive Evaluation: Retained search consultants utilise a rigorous assessment process to thoroughly evaluate candidates. This involves conducting in-depth interviews, reference checks, and skill assessments. As a result, employers can be confident that candidates presented have the correct skills, experience and cultural fit, as well as being qualified for the position.
Benefits of Retained Search Recruitment for Candidates
Confidentiality: For sensitive or high-profile positions, confidentiality is key. Retained search provides a discreet and controlled process, safeguarding both the client’s reputation and the candidate’s privacy. This discretion is particularly crucial for individuals seeking to transition seamlessly into new leadership roles.
Support and Guidance: Navigating the interview and negotiation process can bring some challenges. Therefore, retained search consultants provide candidates with the valuable support, guidance, and insight to help them succeed in every stage of the recruitment journey.
Tailored Match: Retained search firms take the necessary time to understand the individual candidates aspirations, strengths and career goals. This tailored approach ensures that candidates are matched with roles that align with their skills, values, and long-term objectives. This results in a mutually beneficial fit.
The Retained Search Process
Project Initiation: The retained search process begins with a comprehensive consultation between the recruiting firm and the client. This involves understanding the role, responsibilities, qualifications, and the company’s culture.
Candidate Identification: The recruiting firm utilises its industry knowledge and network to identify potential candidates. This step involves thorough research, networking, and leveraging both online and offline resources.
Candidate Evaluation: Identified candidates are rigorously assessed against the established criteria. This involves in-depth interviews, skills assessments, and reference checks.
Presentation: A shortlist of the most promising candidates is presented to the client, complete with detailed profiles outlining their qualifications, experience, and cultural fit.
Client Interviews: The client company then conducts interviews with the shortlisted candidates. The recruiting firm may provide guidance and support throughout this stage. You can find out more about how to perform well in an interview by reading our ‘8 Interview Tips from Recruiters.’
Offer and Negotiation: Once a suitable candidate is identified, the recruiting firm assists in the negotiation process, ensuring that both the client’s and the candidate’s expectations are met.
Onboarding and Follow-Up: The relationship between the recruiting firm and the client doesn’t end with the hiring decision. Successful retained search firms often follow up to ensure a smooth onboarding process and the candidate’s successful integration into the organisation.
Generally speaking, within the complex landscape of recruitment, the retained search process serves as a beacon. It guides organisations towards individuals who possess the necessary skills and passion required to lead with distinction.
At Visuna, we will work with you to agree the best solution for your business needs. Speak to the team today to find out more about our staffing services.
