Principle Consultant Clare Fenwick from Exclusive explains the key differences in the Retained and Contingency search processes.

1. RETAINED AND CONTINGENCY
Our Executive Search and Selection service was Our Executive Search team work in partnership
launched in response to our clients’ needs to re- with our clients to attract and recruit the best per-
cruit the very best in senior talent. son for the role in the marketplace but the 2 meth-
ods produce very different results. In this article, I
will discuss the main differences between them, in
Principle Consultant Clare Fenwick explains the
the hope you can come to a more informed choice
key differences in the Retained and Contingency
between which Executive Search Consultant would
search processes.
benefit your recruitment process.

2. ment process is consultative, re- Additional Investment By The
search-based and solution orient- Client:
ed. The consultant spends consid-
A retained search consultant is
erable time getting to know the
engaged to save time and effort
client organisation and the role
on the part of senior management.
they are recruiting for, before initi-
They provides the client with com-
ating the search. The consultant
prehensive consulting and report-
provides regular feedback to man-
ing (CVs, references, interview,
agement on the market perception
The Type of Position: reports) and this in turn requires
of their organisation, on compen-
minimal HR and General Manage-
Retained Executive Search firms sation levels and other issues that ment time investment until the in-
assist all types of organisations in can affect their ability to recruit the terview process begins. Contin-
the recruitment of Senior Execu- best candidate.
gency methods are much differ-
tives for key positions focusing on Compare this to a Contingency ent, often flooding their client with
particular business strengths. Search process where the recruit- CVs and the challenging task of
These senior positions are seldom ment process is transactional and assessing them. This requires
advertised, hence the specialist placement orientated. With no considerable HR involvement in
nature of the consultant. Contin- guarantee of payment for services screening, interviewing and evalu-
gency Search firms assist organi- performed, the consultant cannot ating candidates presented.
sations in finding mostly middle afford to invest much time in a
level executives and profession- search beyond basic recruiting
als, often representing individuals and submission of CVs. Cost vs Risks:
seeking placement. The costs of retaining an Execu-
tive Search firm, although some-
Fee Payment:
Methodology: times higher than contingency,
Retained Consultants charge a should be weighed against the
When it comes to methodology, retainer fee which is assignment potential costs of a hiring mistake.
retained consultants are proactive rather than placement based. A bad appointment to a crucial
and systematic in their search, Successful completion may be position can have detrimental con-
finding and recruiting the best achieved even by internal appoint- sequences that can take much
possible executive candidates for ment and fees are normally a per- time and expenditure to recover
the position in question. The ob- centage of compensation or are from.
jective is to separate the excep- fixed in advance and are paid in
tional from the average performer Any decision to partner with an
instalments by the client during
and assess them against the Executive Search firm should be
the search process. Contingency
needs of the position and the cli- quality-motivated. As contingency
Consultants operate a “No cure,
ent organisation. The client ob- firms offer a service with no
no pay” system, whereby the fee
tains the consultants’ full commit- money up-front, they will often on-
is only paid upon successful
ment and can expect regular feed- ly work on those searches that
placement of a candidate. Fees
back and consultation throughout can be executed quickly, and do
are typically a percentage of com-
the whole search process. not have the time to focus on pas-
pensation and are paid on the
sive high-quality candidates. With
Compare this to the essentially successful placement of the can-
less time spent on securing a
reactive search methods of a con- didate.
clear job description and under-
tingency search, involving data- standing the client’s needs, the
base searching, internet job post- The Consultant’s Work: chance of a candidate and client
ings, advertising, the Contingency mismatch is significantly in-
Search consultant cannot afford to A Retained Consultant must know
creased. Such decisions to hire
be as structured and thorough as the client organisation and posi-
contingency firms are normally
in a retained search. The focus is tion requirements thoroughly be-
financially motivated.
less on a precise candidate “fit” fore initiating the search. Typically
and more about getting potentially investing 40-60 hours per month
qualified candidates in front of the per client, the key success factor
client so that the client can make in retained consultancy is quality.
their own final assessment. The contingency search consult-
ant often works concurrently with
a multitude of open job orders as
Nature of the collaboration: their primary aim is to present
The nature of each has marked CVs in the hope that one will be
differences. A Retained Recruit- successful, speed being the key
success factor.

3. What we do at Exclusive:
Our Executive Search service
was launched in response to our
clients’ needs to recruit the very
best senior talent across the
North of England (or from outside
of the region if appropriate).
Led by Principal Consultant, Clare
Fenwick and supported by a team
of researchers, we work in part-
nership with our clients to attract
and recruit the best person for the
role in the marketplace.
Our 21st Century approach to
Executive recruitment differs from
the traditional approach, where
organisations were happy to wait
several months to appoint the signments across a number of At Exclusive, we provide an unri-
right individual. Today’s market- industries, roles and sectors. valled bespoke recruitment ser-
place dictates that the majority of vice to clients and candidates
clients want a shortlist presented across the North East, Yorkshire
within weeks rather than months, and Scotland.
something Exclusive is dedicated To experience our
We recruit on behalf of clients of
to delivering. Exclusive, fresh approach all sizes and across all sectors,
Executive level candidates expect please call Clare Fenwick from FTSE 100 businesses to mi-
a high degree of professionalism, on 07896 190619 or cro-SMEs.
credibility, understanding and 01661 867730 for a With our innovative and exciting
confidentiality. They expect us to confidential discussion. approach, Exclusive is changing
be a seamless extension of our the face of Recruitment in the
recruiting clients’ business. North East, Yorkshire and Scot-
land.
Therefore, we work closely with
our clients to enable this — Find us at
understanding their industry, www.exclusiveltd.co.uk
business, culture, competitors,
future plans and objectives.
Often, the candidates we are
working with are not ‘actively’
seeking a new opportunity. How
we present Exclusive to them, as
well as how we market your brand
is vital to an assignment being
successful.
At Exclusive, we have an impres-
sive track record of delivering Ex-
ecutive Search and Selection as-