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Recruiting
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Training &
Commentary
by Bill Radin
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The
Recruiter's Digest
Recruiting
News, Training & Commentary by Bill Radin |
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May, 2006 |
Are You Retainer-Ready?
Every time a contingency recruiter asks me how to write a retained
search, I turn the question around and ask the recruiter, "Before I
say anything, first tell me why you think a retained search would be in
the best interest of your client."
In other words, forget about how much you'd like to write a search contract and
get some money up front. Put yourself in your client's shoes and consider
how a retained search would benefit whoever is writing the check.
Don't get me wrong. Cash, commitment and control are pretty nice perks.
But they do nothing to address your clients' needs. They're worried about
how they can fill key positions, not how they can fill your bank
account.
Don't Play Dr. Phil
What's really astonishing is how many contingency recruiters want to
write retained searches so they can controlor even punishcompanies they feel have mistreated them. Unfortunately, fancy contracts
and up-front fees can't improve a dysfunctional relationship, any more
than putting wallpaper over a bumpy surface will smooth out the
wall. The veneer may be new, but the imperfections will eventually show
through.
Effective consultants look first for the value they can add, then the
cash they'll receivenot the other way around. If you're thinking
about offering retained search services to your clients, the first step
is to understand the reasons why an organization might choose retained
search over contingency. These include:
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1. |
Tradition. Since most high-level searches have been done on a
retained basis for as long as anyone can remember, why try to reinvent
the wheel or fix something that isn't broken? |
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2. |
A proven track record. In general, retained search is considered
the best way to improve the quality of leadership in a timely and
cost-effective way. |
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3. |
Depth and breadth of service. Retained search is a multi-faceted
discipline that involves the type of research,
problem-solving and analysis that's beyond the scope of services
offered by many contingency recruiters. |
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4. |
Clarity of roles and responsibility. Given the importance of
filling a key position, the last thing a company wants is confusion over
who's doing what or who has the authority to refer qualified candidates. That's why 99 percent of
retained search contracts specify that the search firm that wins the
contract becomes the exclusive provider of services. |
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5. |
Partnership, not competition. Contingency recruiters often face
potential conflicts of interest, in that what benefits the recruiter may
not necessarily benefit the client.
For example, if you're a recruiter trying to fill the same position with three
different companies, two of the companies may lose their access to the
very best candidates.
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Or, if you're marketing a hot candidate, and two of your
clients are interested in hiring the person, it may set off a bidding war that artificially
drives up the price of talent.
Bear in mind that not every position will call for the services of a
retained executive recruiter. However, if you decide to offer retained
search, always put your clients' needs first. That way, you'll build
your reputation and your business at the same time.
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