I just returned from a several day conference with fellow members of irsa, the International Retained Search Associates. It was an intensive four days of discussing best practices with other retained search colleagues. We talked about trends in the recruiting industry and how we as a group and in our own practices, can continue to increase value to our clients. I left the meeting energized and excited to start utilizing some of the ideas that were presented.
One of the best takeaways from the meeting was a renewed understanding of the value of retained search. The retainer allows the recruiter to spend the appropriate amount of time talking with the client and learning the nuances of the position, the company culture and the near and longer term goals of the client. All of that adds up to a more precise understanding of what candidate experience, skills and personality will best fit in and contribute to our client for the long term.
That knowledge is fundamental in helping me understand whether a candidate can really flourish with the new opportunity. Successful placements that last for years, and where the new (placed) employee can grow both personally and professionally, while contributing their employer don't just "happen".
The irsa meetings that I attend twice a year are an outstanding opportunity for me to refine the recruiting process at every step of the way, from the initial call to a passive/employed candidate, to being the client representative delivering the final offer. From sourcing candidates, to the in depth interviewing and relationship development with candidates, every step of the way can be discussed openly with other irsa members, with any questions being answered by veteran, successful recruiters.
The value of the information gathered at irsa is immeasurable. There is no other forum or association I've heard of that so openly shares best practices. It's remarkable and exciting. I'm proud to be a member!
What does that have to do with my headline? It's this . . . many retained recruiters (including irsa members) are interested in delivering the absolute best quality and service to the client. There are many steps in the recruiting process. Ultimately, the thing that separates retained from contingency recruiters is the commitment to success through excellence and quality of hire.
I believe that there are quality contingency recruiters. The reality however, is that if the client is unwilling to provide that contingency recruiting firm an "exclusive" for the search, that search becomes a race to deliver candidates as quickly as possible . . . before another contingency firm can deliver another candidate (or the same candidate) first. That race leads to insufficient time spent with the client in the beginning and subsequently, insufficient time spent getting to know the candidate . . . really getting to know them. If another "easier" contingency search comes along, the non-exclusive contingency recruiter would likely drop a more difficult search for the "easier" one . . . the goal is to make money, after all.
Search is expensive. A failed search, or one providing marginal candidates is even more expensive! A a fellow recruiter, Geoff Votta wrote in a blog:
You can’t afford a rushed process and or no process at all. Retainers protect your investment. They are like insurance policies. You know that when a firm is retained, you have their undivided attention, or you should. If you don’t have that level of interaction, then you didn’t vet them properly. If a competent firm has the ability to truly screen candidates out of the process rather that screen them in, you will get a better product, and it will be guaranteed (another benefit of the retainer is a one-year replacement guarantee; why do you think contingency firms don’t make that promise?)"
A retained recruiter is relentless in the pursuit of the best candidates for the client. We don't give up when it's difficult to identify and/or recruit that candidate with the right personality and the ideal skill set. With the retainer (or engagement fee, as many of us call it), comes accountability and a commitment to the success of the search.