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AEM SALARY REPORT 2020
Contingency Recruiting vs. Retained Recruiting
Founder & CEO | Focus Global Talent Solutions
Let’s start with what most people think a recruiter does! Funny enough, a lot of hiring managers think recruiters just post a job on LinkedIn and message random people to hopefully find a couple ‘good enough’ candidates that they can send over. For some, this may be the case. However, for the elite recruiters who work on a retained basis, this could not be further from the truth.
This is when a manager has multiple firms competing to send the best candidates over. A contingent recruiter knows that speed is the most important factor because they are competing with other firms to “cover the role” (meaning they have at least 3 candidates submitted).
Pros of contingency recruiting:
The recruiter will start working on the role quickly. In almost every case, contingent recruiters will take any role because it is an opportunity for them to hopefully fill a role.
Cons of contingency recruiting:
Elite Recruiters Prioritize Their Work/Time Based on How Fillable a Role Is.
If a really good recruiter knows that the candidate pool is already limited and that 5 other firms are all calling the same candidates, it slides further down the priority list. That means the recruiters who really knows the market, the candidates, the industry will not be motivated to work on your role.
It Can Damage your Company Brand.
Put yourself in candidate’s shoes who get 5 calls on the same day about the same role about the same company. What is going through your head?
Probably not “I really want that job!” That is not necessarily how you want the best candidates on the market to get a first impression of your company and team. You are going to get a lot of candidates who don’t line up with the criteria you have for the role.
This is the case for 2 reasons:
- You’re going to be dealing with more amateur recruiters who are not market specialists in any particular industry. They are a jack of all trades and a master of none (meaning they recruit Java Developer, Analytics, BI, and any other tech role they can get their hands on).
- Since they are not a specialist, they do not know the industry jargon. Meaning when they take a job spec from you and you start giving them specific skills that you want, they may not fully understand what you are talking about or what those skills are.
This is when the recruiter has a contractual agreement with the manager stating they will be working together exclusively. It is backed up by putting a ‘retainer’ forward as a commitment to the recruiter. This can range from $2500 to 1/3 of the first-year salary of the potential hire.