When you’re looking to attract the best talent in a crowded and competitive marketplace, many financial firms will ask themselves the same question:
‘Should I use a retained search agency or contingency recruitment?’
While there are advantages to both approaches, a retained search agency should offer the most benefits, provided you partner with one that best suits your goals.
Here are just some of the pros of working exclusively with a trusted organisation in this area.
Trusted relationships
The temptation to use a contingency firm may look financially tempting on paper, as you won’t need to pay a fee unless you employ their candidate. The onus is on them to send you the best possible people to interview if they want to get paid.
This is a perfectly suitable way to fill positions in non-specialist markets, or lower paid roles, as it can save resources.
But the downside is that your available job(s) may be being competed for by several firms, all trying to get their candidates in place.
This can lead to poor decision making and research, by firms more concerned with fees than with building an understanding of your needs.
Diligence and discretion
Knowing they are the sole firm trusted by you to fill the most important positions in your organisation sharpens a recruiter’s focus.
Instead of solely being about money, the motivation instead becomes achieving the best result for your business.
And over time, a retained search agency will know better the key factors that can indicate potential success within your business.
Meaning that only the most suitable and highly vetted candidates will end up in front of you, following a duly discreet and considered process.
This specialist approach is especially effective when headhunting potential targets who may not even be actively seeking a new role.
Key contacts
The ‘bespoke’ capabilities of a retained recruitment agency are well suited to the finer points of recruitment in a sector with positions often offering:
● Substantial remuneration
● Generous benefits/bonuses
● High expectation/responsibility
With numbers of people suited to such positions being small, a consultant needs to retain (and continually refine) a network of key contacts.
This may include previously successfully placed people, outstanding graduates and managers they have existing relationships with.
All of which provides you with the peace-of-mind that you’ll be seeing the best people for the job without having to trawl through your own phone.
Ready to talk recruitment?
If you’re interested in talking to an established search agency with a proven track record and a truly global reach, we’d love to discuss your goals.
And by entering into an exclusive relationship you can look forward to lowering long-term expenditure and better return on investment.
To talk to a member of our experienced client services team or ask any questions, please contact us today.
.jpg)