Recruiting - Retained Executive Search - Contingency Search
When Should Retained Searches Be Used and Why?
URGENCY: If it is urgent that you have a person by a certain date, retained is the type of search that should seriously be considered. In the past 3 years our organization has not fallen below 10 contingency searches at any given moment and have been as high as 61. Retained searches always receive top priority in front of contingency searches.
EXCLUSITIVITY: This benefit gives you the "right of first refusal" on any candidate that is recruited in your target market. Under contingency, we reserve the right to present the candidate to other clients who currently are under contingency search agreements.
RELATIONSHIP AND COMMITMENT: In retained searches the relationship is much deeper on the part of CFC and the client. A payment is required at the signing of the contract, hence the commitment on both sides is much stronger than "If you find the right person, we will hire them" which is really what contingency means.
GUARANTY PERIOD: The guaranty period is 3 times longer with Retained -vs- Contingency.
GUARANTEED PERFORMANCE: CFC has never failed to successful complete a retained assignment with our clients. 100% success rate. It is a record we are very pleased and intend to preserve.
A special note on the retained searches. We have a record of 100% fulfillment on Retained Searches and this option is not available to every client. It is only offered on a case by case basis after a determination is made it is a search we can bring to a successful completion.
When Should Contingency Search Be Used?
Contingency Search are used for ongoing openings, which are not urgent in nature. Our Contingency Search is available to companies that do not want a devoted search effort but want to see qualified candidates with whom we are currently working or are sourced as a result of another search and they fit your criteria. Under the contingency search, you pay for our services only if you hire one of our candidates. This option is selected when a critical need does not exist. Replacement guarantee is 30 days and exclusivity of candidates is not offered with this option.
RETAINED -vs- CONTINGENCY
| Services | Retained | Contingency |
| Level of Commitment | Highest Priority | As Time Permits |
| Relationship | Partnering | Transactional |
| Search Profile | Written & Approved | Written & Approved |
| Exclusivity of Candidates | 60 Days | Not Offered |
| Written Candidate Overview | Yes | Resume only |
| Project Team [Multiple Recruiters] | Yes | Not Offered |
| Written Reference Reports | Yes | Upon Request |
| Replacement Guarantee | 90 Days | 30 Days |
