Here are some musings from Redland Search HQ on some frustrations that we have about our own industry. We’re frustrated by misconceptions and some misrepresentations out there, so we put this together to clarify a few of our thoughts…
There’s a misconception that ‘retained search’ is more expensive than contingent, payment-on-delivery, recruitment services. We don’t charge more for ‘search’ than we do for contingent, but we do charge up front and that’s because we view retained search as a statement of intent by the client. There is a recognition that the role will be filled and the final amount will be the same, but the retained payment up front indicates that the client understands this will be more time-consuming and that they are happy to recognise that this will be a thorough, no-stone-unturned service that they are committed to.
We see retained search as a solution for senior staff or multiple (team) recruits only. They are crucial hires for any organisation, often come with long notice periods and will need to be tempted out of their current positions. As such, the salaries are high and the standard percentage we charge means increased revenue anyway.
Many clients have come to us having been quoted 50-100% higher for retained search and sometimes even higher if billable add-ons such as car and bonus are being included in the charge. We know there are firms out there who charge far more than Redland Search, but don’t get the same results. Maybe all the extra money goes into their branding?
We advise our clients to adopt retained search when the time is right, but we don’t change the charge rate, just the payment schedule. For any enquiries about what we charge, email us here.
When should you use a search?
We recommend executive search in the following situations:
Executive recruitment
Executive recruitment is ideal for mission-critical search. It protects businesses that don’t want to announce exec-level shake-ups publicly and it connects vacancies with senior candidates who aren’t actively searching for roles.
Unique skillsets
If there are very few candidates out there, they should only be approached by one appointed Search Consultant. It is discreet and more time can be taken to communicate those who should be interested in your role. Employing multiple consultants and each of them approaching the same candidates very quickly demeans the process and you can lose your shot with all of the candidates.
Unfilled positions
If your internal search functions have failed to fill a vacancy, it might be time to try executive search. Employing a consultant to look at a unique role with fresh eyes and ideas and allowing them to take their time on the role will help to maximise your pool and quickly identify suitable passive candidates.
What should I get from a Search Consultant?
Experience counts more than anything. When a consultant has been through 1000+ recruitment processes (like..ahem..we all have at Redland Search), then the lived experience enables the process to go smoothly.
Two-way process - You are in charge, but we need to communicate and be listened to when things are not quite right. It could be a delay in feedback, problems with something that was misunderstood in the interview, or a general feeling of discomfort from the candidate. We recognise these things immediately and work with you to resolve anything that could harm the process.
Hard work – the consultant needs to uncover all relevant candidates out there as efficiently and in as little time as possible. They need to recognise that each candidate could be here today and gone tomorrow.
Tools – they need to have access to all modern headhunting technologies.
Transparency – open, honest and competitive pricing.
Trust – not just someone you trust completely, but also someone you believe in
If you are considering engaging a firm for a retained mandate, get in touch with us here