The Benefits of Retained Search Firms
Some companies believe that more recruiters searching for your talent equates to greater market coverage. But in the staffing world, quantity doesn’t equal quality. Retained search firms have demonstrated fill rates near and far above 90 percent. Contingent recruiting firms often have fill rates of less than 35%.
Why such a huge difference in fill rate? One reason is because retained search firms like Risch Results are 100 percent sure they will find the right person. We commit to our client that we will not stop a search until we have found a candidate they are happy with. At our firm, the only reason a recruiter would stop a search is if our client’s business need changes or if the client finds a candidate through a referral. A contingent recruiter isn’t going to work as hard since the odds of filling the position are dependent on how many recruiting firms the client has asked to work on the open position.
Retained Firms Search Deeper
Retained firms do more than consult a database. They conduct a deep dive into the market across information channels to find the potential right candidates. This comprehensive search may entail looking at candidates who’ve worked in non-traditional settings, or prioritizing a candidate’s natural or unique talents. Retained search firms can take this methodical, comprehensive approach because they aren’t worried about just getting a positioned filled so they can get paid.
While the reasons employees leave their positions makes for a long list, research shows that at the very top is cultural fit.
Retained search firms will undertake an in-depth search and interview process to focus on identifying a cultural fit. The greater the criteria, the fewer the candidates.
Retained search firms know that by understanding work dynamics and company culture, they can narrow the search to discover candidates who will not only succeed in the position — but also have the best chance of staying in it.
To find the great talent that fits both in skills and company culture, using a better search firm matters.