The recruitment process is not an easy one, but leaving the position unfilled will be even more expensive. The today’s candidate pools are way too qualified, and the employers are even making extra effort to impress and entice those best job candidates. This has made the recruiters to make their processes faster and better, in order to avoid missing out on the few chances. There are two types of recruiter, the contingency and the retained recruiters and many people think only differs with the fee but this is not true. Here is all you need to know about working with the recruitment services when hiring.
The contingency recruitment is the one that you only pay when you accept a candidate that the recruiter puts forward. With the contingency, you only pay when you hire the candidate that the recruiter puts forward. For the first one you pay when you hire the candidate that the contingency recruiters puts forwards. These ones usually are independent or part of an agency, and can either submit their applications or get hired by the HR team. They also are usually competing with other external recruiters of the internal hiring team, and therefore puts forwards a lot of the candidates and fats to increase their chances of hire and getting the fee. The retained recruiters on the other hand is the ones that you pay upfront, so that they can then hunt a candidate for you. These ones usually have no competitions as they work exclusively until the task is complete, and alongside the onboarding and the HR team. Normally, this will cost to around fifty percent of the first yearly salary of the hire, but you get the advantage of the control over the process and they also take time. Most of these ones also specializes in the top position or particular niche.
With the contingency recruitment, you save a lot up front because you only pay the ones that you hired from or not at all if you happen to hire internally, and you also get a lot of the potential candidates. They are therefore ideal for the specialized and general positions. If on the other hand, you are looking for some specific candidate then a limited number if the recruiters of retained services will be better. They probably have the candidate that you are looking for on their rolodex and this makes the process even easier.
The contingency recruited work from the outside and the retained ones from the inside and therefore have inside Intel on the job detailers. There are a number of things that will determine the best recruiters for you and among them is the position that you are looking to fill, the candidate availability and the industry too. Last but not least, make sure that you choose the right recruiters for whatever type that works for you.