Attracting and retaining top talent is vital in today’s competitive business landscape. But sometimes, finding and hiring the right leaders who drive innovation, strategy, and results can be a challenging task.
The disruptions during the pandemic continue to reverberate throughout the workforce. Forbes reports that the Great Resignation still isn’t over, and employees at all levels are becoming more discerning. Further, the most qualified candidates are hired soon after entering the market, making it vital for employers to get as creative and strategic as possible. This is where retained search comes into the picture.
In this blog post, we’ll explore why retained search can help your company secure the top executive talent it needs to thrive!
What Is Retained Search?
Sometimes known as executive search, retained search is a specialized recruitment service enabling companies to secure top candidates for key positions. It’s a strategic recruitment approach where companies engage search firms and recruiters to identify, evaluate, and present highly qualified candidates for executive, senior, and other key or leadership positions.
The partnership between a business looking to hire and a retained search agency is exclusive and highly customized, providing you with unique insights into your talent needs and the ability to deliver.
How Is a Retained Search Firm Different from Other Recruiting Services?
A retained or executive search offers small businesses, startups, and even large organizations an opportunity to hire executives and other leaders while focusing on core competencies and pressing daily matters. But how does retained search differ from other available recruiting services?
Here are a few ways retained search offers a unique experience for clients to help companies secure top talent.
When a business and a retained search firm enter into an agreement, it’s an exclusive partnership. The executive search firm commits to dedicating expertise, resources, and networks solely to that specific business to conduct a thorough search.
Executive search firms approach each client and its needs with a highly personalized and tailored approach to every search assignment. Retained search firms invest time and effort in understanding the hiring company’s specific needs, culture, and requirements, allowing them to identify candidates who align with the company’s goals, vision, and values.
Extensive Research and Proactive Sourcing
A retained search involves comprehensive market research, tapping into extensive networks to proactively identify and approach potential candidates closely matched to the hiring company. This type of search goes far beyond job boards and advertisements. It targets active and passive candidates who may not be actively seeking new job opportunities. Such proactive and in-depth sourcing sets retained search apart from other recruiting services.
Thorough Candidate Assessment
Retained search firms prioritize thorough candidate assessment and evaluation, conducting in-depth interviews, competency assessments, and reference checks. This strategy thoroughly evaluates a candidate’s qualifications and their potential fit with the company’s culture and provides solid insights into the likelihood of long-term tenure potential. This rigorous evaluation process ensures that only the most qualified and suitable candidates are presented to the hiring company.
Strategic Partnership and Long-Term Relationships
Executive search firms focus on building and nurturing relationships with clients and talented candidates. They offer ongoing support, guidance, and consultation throughout the search process and far beyond. The partnership approach is ideal for understanding the company’s current and evolving needs, culture, and talent requirements.
In contrast, standard recruiting agencies often offer a more transactional approach in many cases, focusing on filling immediate positions without focusing on future engagements or building long-term relationships.
Higher Level of Expertise and Industry Knowledge
Retained search firms specialize in executive and leadership candidate searches. They work with companies requiring higher expertise and industry knowledge and understand market trends, talent dynamics, and the unique requirements for C-Suite positions.
This expertise allows executive search professionals to identify candidates with the necessary skills, experience, and leadership qualities crucial to the success of the hiring company.
Consider an Executive Search Firm like Insight Global
Retained search services offer an in-depth and exclusive engagement that fully focuses on helping you find the right professional at the right time. This makes retained search the ideal choice for companies seeking top-tier leadership talent critical to their company’s continued success.
If you need to hire a new executive, contact us today to learn more about our retained search services and what it can do for your company!
Hire an Executive with Insight Global
Contact us today to learn more about our retained search services and what it can do for your business!