Successful people are very discerning and need compelling motivations to move companies.
If you want to take talent away from your competition it’s essential that the people representing your business in the marketplace truly understand it. They need to be able to sell your brand. Articulate your vision. Outline your growth story. Paint a picture of your unique culture.
Contingency recruitment is simply not geared to this level of detail. It’s a model built on many plates spinning at once. By choosing a contingent model you introduce the risk of key talent being approached on multiple occasions by several different recruiters which undoubtedly has a detrimental impact upon your company’s brand and the overall perceived value of your vacancy.
The Talent FM retained search model includes a number of ‘value add services’ such as the creation of bespoke candidate briefing pack, specific to your vacancy and in line with your brand guidelines and brand message.
Reason #2 Depth of intelligence and insight
A simple fact is that you will learn far more about your business by engaging in a retained assignment over a contingent one.
There is a range of market intelligence that can be gathered over the course of a retained assignment including competitor analysis and organisation charts through to salary benchmarking information that can help shape a market leading talent acquisition strategy for years to come.
Choosing the retained option over contingent can get you invaluable consultative guidance on optimising your end to end hiring process. Gather essential candidate feedback of where first impressions could be improved. Understand the points in the process where your competitors ‘do it better’. Then optimise, optimise, optimise!
Reason #3 Level of dedicated resource
Retained search isn’t for everyone and isn’t for every hire; but if you are making a mid to senior level hire that has strategic importance going forwards then why would you not want to have complete confidence that you have allocated the appropriate resource to find the best talent, that’s also the best fit for the job and your business?
You’d want the full attention of a consultant that has deep experience of your industry and that has access to and the ability to present to you high quality passive candidates that you didn’t even know existed.
You would want that consultant to be transparent and accountable working to agreed milestones that add an extra degree of predictability to your search. These are all founding principles of the retained search model.
Reason #4 Casting the net a bit wider
To address the passive market you need access to a pre-built network of high quality candidates rather than relying on LinkedIn advertising and job boards. Opting for a retained search provider allows you to tap into a richer pool of high performers many of whom will work on an exclusive basis with that firm.
If you’re expanding across regional boundaries you may also want to assess the coverage that organisation has in a range of different territories enabling you to leverage the benefits of one simple process and one single point of contact as you need for talent increases.
It’s also important to note that when you work on a retained project your organisation holds exclusivity over candidates in the process throughout the engagement.
Reason#5 Avoiding false economies
Often hiring managers cite the cost of retained search as being a major factor in opting for it’s contingent cousin! The key piece of advice here is to be wary of false economies.
The cost of getting a hiring decision wrong and onboarding then managing an underperformer out of the business would more than justify the difference in the fee alone. Then consider the opportunity missed as headcount remains open for extended periods of time as contingent recruiters continue to repeatedly miss the mark.
Factor in the time wasted pondering over a large volume of CV’s that are wide of the brief and the lost business hours interviewing unsuitable candidates and you are staring to build a compelling case.
About Talent FM
Talent FM is a professional search firm with a passion for helping leaders achieve complete confidence that they have hired the right talent, first time and every time. We believe you should never have to make the choice between quality of candidate and time to hire.
As a result our business has been founded on the principle of offering a premier standard of search service delivered in vastly accelerated timescales that our competition simply cannot match. And our ‘industry-disrupting’ guarantee gives you the peace of mind you deserve. We are Talent FM. Search with Purpose.